Wemade Reports Operating Profit of 3.2 Billion KRW in Q1... Successfully Returns to Profitability

Sales Increase Due to Expansion of 'Mir's Legend 2' IP Business

[Asia Economy Reporter Jin-gyu Lee] Wemade announced on the 13th that its first-quarter sales increased by 15.5% compared to the same period last year, reaching 31 billion KRW, and operating profit recorded 3.2 billion KRW.

The company explained that overall sales rose thanks to the expansion of the intellectual property (IP) business of "Legend of Mir (Mir) 2," driven by the release of licensed games and increased royalties. Additionally, it succeeded in turning a profit due to receiving compensation from a copyright lawsuit in China and gains from foreign currency translation. Wemade is focusing its capabilities on "Mir4," which is under development aiming for release in the second half of the year, and plans to achieve meaningful results in copyright disputes related to the Mir IP.

Recently, Wemade won an arbitration lawsuit filed by Lansha (formerly a subsidiary of Shanda Games) at the Singapore International Arbitration Centre (SIAC) regarding "Mir3," thereby having its IP rights recognized. The outcome of this lawsuit is expected to have a positive impact on major lawsuits such as the final trial for copyright infringement of 37Games' web game "Zhanqi Paie" and the arbitration of Mir2 involving Shengqu Games (formerly Shanda Games). Furthermore, the Chinese licensing business is expanding through strategic partnerships with partners in various forms and continuous cooperation.

Meanwhile, Wemade Tree, a blockchain-specialized affiliate company, is preparing for full-scale global service by securing a lineup of 10 new games across various genres.

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