[Yonhap Photo]
SEOUL -- South Korea's game industry was thrown into frustration and confusion on news that Nexon founder Kim Jung-ju and his wife put their entire stake in NXC, a holding company of the global game development and distribution company, up for sale.
There was no official comment from Nexon or Kim, but financial investment industry officials said Kim and related parts plan to sell a 98.64 percent stake in NXC. Kim owns 67.49 percent in NXC and his wife 29.43 percent. Kim also has 1.72 percent in NXC through his private company.
NXC controls 47.98 percent in Nexon listed in the Tokyo Stock Exchange and 100 percent in its South Korean branch. The market value of Nexon, founded by Kim in 1994, is estimated at some 13 trillion won ($1.15 billion).
The market's concern is whether Kim will sell all business segments together. Nexon launched the world’s first online graphic game "Kingdom of the Winds" and popular smartphone game "Hit". Kim, who pioneered South Korea's online game industry, has made diverse investments in startups.
NXC has stakes in other companies including Stokke, a Norwegian manufacturer of children's furniture and accessories, and BrickLink, the online marketplace for LEGO parts, Minifigs and sets, as well as two cryptocurrency exchanges -- Korbit and Bitstamp.
reporter
Lim Chang-won
cwlim34@ajunews.com
