gumi – Embezzlement case in South Korea confirmed by mobile studio

First announced back in March, an internal investigation was carried out to confirm the findings of a possible embezzlement. gumi has since released an official statement from its Japan headquarters, and will proceed to file a police report against the…

Nexon – Gaming giant purchases studio behind Darkness Reborn

Nexon Corporation, currently trading in the Tokyo Stock Exchange (3659.TO), just announced that its subsidiary, Nexon Korea, has entered into a definitive agreement to acquire all outstanding shares of mobile games developer Boolean Games. Terms and details of the transaction were not…

NCsoft – CEO extends office term for three years as Nexon looks on

A few days back, NCsoft held a shareholder meeting, and founder Kim Taek-jin’s term as CEO was extended for another three years. Nexon, NCsoft’s largest shareholder, had Executive Director Kim Jung-wook, and Chief Financial Officer Han Kyung-taek in attendance. This is the first time…

gumi – Brave Frontier publisher to lay off around 100 employees

Just around four months after an IPO which raised hundreds and millions of dollars, mobile games studio gumi has taken a dramatic turn in fortunes. The company announced plans to lay off about 11 percent (around 100) of its employees and that it…

gumi – South Korea office under investigation for embezzling funds

According to the head office in Japan, gumi has confirmed that the South Korea office is under internal investigation for embezzling more than USD 300,000 in company funds. Reports first pointed the finger at the South Korea office’s chairman, but gumi…

Tencent – Record year for IT giant in 2014 with USD 4 billion profits

When I first started researching the China market, a colleague joked with me about Tencent, claiming the company might just worth ten cents since it is from China. Today, Tencent announced that its profits increased 53% in 2014 from 2013 (year…

Tencent – China IT giant working with Microsoft to promote Windows 10

As an active gamer of Tencent Games, I experienced first hand the tortures when Windows 8 and 8.1 launched. Applications and games, including Blade & Soul back then, could not run in the first few months. Tencent has seen the…

Quest Drop – Singapore developer reveals new mobile games publisher

[Website] Daylight Studios, a Singapore-based games developer, has announced a new mobile games publishing arm, Quest Drop, for the Southeast Asia market. The studio will continue to develop mobile and PC games. Quest Drop will provide services such as operations,…

Nintendo – Game giant forms alliance with DeNA to develop mobile titles

[Source] After years of resistance in launching full-fledged mobile games on the reason that the move will hurt its hardware sales, Nintendo has formed an alliance today with mobile games developer DeNA. The deal aims at “the joint development and…

Project HON – NCsoft staff caught for embezzling development funds

According to various reports in South Korea, three employees from the development team of NCsoft’s Project HON were removed after being caught embezzling development funds. The scheme started with the hiring of a third party company they have intimate personal connections…

Fortune – Riot and Blizzard debuts on top companies to work for list

[Source] According to a new article by Fortune, the globally recognized business magazine, Riot Games and Activision Blizzard made their debuts in the “100 Best Companies to Work For” list. Riot Games is sky high, debuting at a lofty #13 position,…

Smilegate – CrossFire developer takes No.2 spot in 2014 gaming revenue

According to reports from the Korean media, Smilegate has taken over NCsoft in the No.2 spot for gaming revenue for the year 2014. Much of the revenue should derive from CrossFire, still the current No.1 online shooter in China published…

Tencent – Thousands queue to get red packet from company founder

After the week-long Lunar New Year (or Spring Festival) break, Chinese bosses usually give their employees a red packet to signal the starting of work. This is the same for Tencent, which is a majority shareholder of Epic Games, Riot Games,…

NCsoft – Game developer invests in drone maker and finance technology

Recently, it was announced that NCsoft has started diversifying away from its core gaming business. First, it has invested 1.6 billion Korean Won (around 1.35 million USD) in BYROBOT, in a deal struck late last year. BYROBOT has specialized in toy drone production…