[Market Focus] Someage Shares Surge on News of Entry into Coin Business

As of 9:33 a.m. on August 4, the stock price of the game developer Someage on the KOSDAQ market was recorded at 275 KRW, up 17.52% from the previous trading day's closing price. This appears to be due to news of the company's entry into the coin business.

Someage is a company that develops and services a variety of games across genres such as MMORPG, RPG, strategy simulation games, and AR games for both online and mobile platforms. Last year, the company posted consolidated sales of 14 billion KRW and a net loss of 6.9 billion KRW. Someage also recorded large-scale net losses in 2022 (21.4 billion KRW) and 2023 (12.4 billion KRW).

At the end of June, Someage announced that it would hold an extraordinary general meeting of shareholders on August 5 to add the following new businesses to its articles of incorporation: blockchain-based cryptocurrency trading and brokerage, token issuance and token securities (STO) related businesses, development, distribution, and sales of digitized assets, issuance and supply of electronic money and gift certificates, and virtual currency investment business.