Kwon Young-sik, Netmarble CEO, "Strengthening Global Business Competitiveness by Pioneering Convergence Genres"

Chairman Bang Jun-hyuk's Reappointment Confirmed

[Asia Economy Reporter Jin-gyu Lee] Kwon Young-sik, CEO of Netmarble, expressed his determination on the 27th to strengthen global business competitiveness by pioneering various convergence genres.

Netmarble held a shareholders' meeting at the G-Valley Convention Center in Guro, Seoul on the same day. In his greeting, CEO Kwon stated, "This year, we will enhance competitiveness in both domestic and global businesses through pioneering various convergence genres, revitalizing game development based on our own intellectual property (IP), and launching high-quality well-made games."

CEO Kwon said, "To secure new growth engines, we acquired Coway, the number one company in the physical subscription economy last year, laying the foundation for long-term company development. We plan to apply our artificial intelligence (AI) and big data technologies to the home appliance rental business and evolve it into a smart home subscription economy business in the future."

He also mentioned, "Due to the COVID-19 pandemic, companies worldwide are facing difficulties, and we are taking this situation seriously. In the short term, we are conducting remote work to ensure that the launch of new games is not disrupted. However, if the situation prolongs, it could affect business plans and game development, so we are continuously considering and striving for systematic preparation and work efficiency."

Meanwhile, Netmarble also approved the extension of Chairman Bang Jun-hyuk's term by three years. Chairman Bang's reappointment term will last until 2023. As the founder of Netmarble who has led the company since 2014, Chairman Bang is expected to strengthen the global position of the core game business this year and seek new business synergies by combining Coway's subscription economy business with Netmarble's IT technology.

Netmarble purchased approximately 200 billion KRW worth of treasury shares for two consecutive years last year, following 2018, and announced plans to continue shareholder-friendly policies through dividends or treasury share purchases within up to 30% of the controlling shareholder's net profit. Additionally, the company reported key management performance for last year, including consolidated sales of 2.1755 trillion KRW and operating profit of 201.7 billion KRW.

This content was produced with the assistance of AI translation services.