Netmarble Transitions to Sole CEO Kim Byung-kyu System... Aims to Strengthen Global Competitiveness

Transition to Sole CEO System Following Kwon Young-sik's Resignation
Kim Byung-kyu, Expert in Legal Affairs and Corporate Strategy
CFO Do Gi-wook to Be Newly Appointed as Inside Director at This Month's Shareholders' Meeting

Netmarble announced on the 7th that it will transition from the existing dual CEO system to a sole CEO system under Kim Byung-kyu. This move follows the resignation of co-CEO Kwon Young-sik. Netmarble plans to finalize this agenda at the 14th regular shareholders' meeting to be held on the 31st at the G-Tower Convention Hall in Guro-gu, Seoul.

CEO Kim Byung-kyu graduated from Seoul National University with a degree in law and completed the 38th Judicial Research and Training Institute. After serving as head of the legal team at Samsung C&T, he joined Netmarble in 2015. He subsequently held positions as Senior Executive Director of Corporate Strategy, Executive Director of Legal Affairs, and in 2022, Executive Director overseeing Planning and Legal Affairs at Netmarble. Early last year, he was appointed co-CEO and Vice President. Through the transition to the Kim Byung-kyu CEO system, Netmarble plans to proactively respond to rapidly changing external environments and further strengthen its global competitiveness.

Meanwhile, Kwon Young-sik, who has overseen Netmarble's gaming business for 10 years, will participate as a key decision-maker in Netmarble's Management Strategy Committee following his resignation. Established earlier this year, the Management Strategy Committee will be responsible for strengthening the development capabilities of Netmarble's affiliated developers and formulating gaming business strategies.

Additionally, through the disclosure of the shareholders' meeting agenda, Netmarble announced plans to newly appoint Do Gi-wook, Chief Financial Officer (CFO), as an inside director, and Lina Chuan, Head of Business Development at Tencent Games, as an outside director. It is known that Piao Yanli, Vice President of Tencent Games, who previously participated in the board as an outside director of Netmarble, recently left Tencent.