Media: Korean gaming companies are massively shedding non-core assets
KRAFTON, Nexon, and several other gaming companies from South Korea have undertaken business optimization, reports ChosunBiz. It is suggested that they have decided to focus more directly on games amid challenging market conditions.
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Journalists from ChosunBiz have noticed that in recent months Korean gaming companies have begun selling or shutting down non-core assets. Specifically, in mid-April, NXC, the holding company owning Nexon, announced the liquidation of its stakes in two pet food production companies: Whitebridge Pet Brands and Grizzly Pet Products. It also sold its share in the investment firm NX Pet Holdings.
Which other companies have disposed of parts of their non-gaming business:
- Smilegate — on April 14th, announced the sale of its shares in the educational platform Archipin;
- Kakao Games — in fall 2024, sold its stake in the headset manufacturer Sena Technologies, and in March of this year, announced plans to sell the golf service Kakao VX;
- KRAFTON — according to rumors, in January, shut down the company Thingsflow, known for the chat platform HelloBot.
However, it should be noted that the companies themselves have not made any statements about wanting to focus on games at the expense of other areas. Therefore, it is possible that the series of disposals of non-gaming assets is a coincidence driven by different factors.