Voluntary Retirement Applications Accepted Until the 11th
"If Remaining, Employment Will Be Transferred to Nexon Korea"
Nitro Studio, a subsidiary of Nexon, has begun a voluntary retirement program for all employees.
According to Nexon on August 5, Nitro Studio will accept voluntary retirement applications from its employees until August 11. Those who accept the voluntary retirement offer will receive severance pay along with up to two years' salary as compensation. Employees who do not wish to participate in the voluntary retirement program will be transferred to Nexon Korea starting next month.
Nitro Studio was established in 2020 as a joint venture between Nexon and Wonder Holdings, led by former Neople CEO Hur Min, with each company holding a 50% stake. In 2023, the studio released "KartRider: Drift." This game is a modern remake of the popular racing game "Crazyracing Kartrider," which Nexon originally launched in 2004, featuring updated graphics and gameplay.
However, the game failed to achieve commercial success, and Nitro Studio posted an operating loss of 18.2 billion KRW last year, making it difficult for the company to sustain itself. The development team implemented several system overhauls and focused exclusively on the PC version as a strategic move, but failed to increase the number of users. Ultimately, the game service was discontinued in June, just over two years after its release. As a result, Nexon has reportedly established a development and operations team for the sequel, "Kartrider Classic," within Nexon Korea.
Nexon explained that it decided to transfer Nitro Studio employees to Nexon Korea to ensure job security. A Nexon representative stated, "The transfer of employment will be carried out as an intra-group move starting from the first of next month, and those who do not wish to transfer may apply for voluntary retirement at their own discretion." The representative added, "We will do our utmost to support Nitro Studio members so that they can be assigned to new projects as soon as possible."
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