[Click eStock] "Webzen, Rising Expectations as New Release Becomes Visible"

Samsung Securities Issues 'Buy' Investment Opinion and Sets Target Price at 42,000 Won... Closing Price on 27th at 31,900 Won

Webzen's 'MU Archangel' (Photo by Asia Economy DB)

[Asia Economy Reporter Kum Bo-ryeong] Webzen is seeing rising expectations as the release of the new 'MU' title becomes more tangible, according to an analysis.

On the 28th, Samsung Securities reported that 'MU: Crimson Legend' in China is scheduled to undergo a closed beta test (CBT) with account retention starting from the 5th of next month, followed by an imminent release.

On the Chinese game portal 9Games, it was announced that after conducting an account deletion CBT on the 8th, 'MU: Crimson Legend' will begin an account retention CBT on the 5th of next month. Researcher Oh Dong-hwan from Samsung Securities explained, "The account retention CBT conducted in China is similar in nature to Korea's open beta test (OBT), and usually the game is officially released within one to two months after the account retention CBT." He added, "Considering this, the official release schedule for Crimson Legend in China is likely to take place in September."

'Quan Min Qi Ji 2', developed by Tianma Shigong and published by Tencent, is also expected to be released in China within this year. Researcher Oh said, "Although the exact release date has not been announced, considering that pre-registration started in June, it is highly likely to be released in the fourth quarter." He added, "Given the growth of the Chinese mobile game market compared to 2015, Quan Min Qi Ji 2 is expected to perform as well as its predecessor."

Samsung Securities has given Webzen a 'Buy' investment rating with a target price of 42,000 KRW. The closing price on the 27th was 31,900 KRW. Researcher Oh stated, "Reflecting the upward revision of sales estimates due to the clearer new release schedule and the rise in peer valuation, we raised Webzen's target price by 40% from the previous 30,000 KRW to 42,000 KRW." He analyzed, "This year, there is a high possibility that the cycle of simultaneous increases in operating profit and valuation seen before and after major releases such as Quan Min Qi Ji in 2015, Miracle Strongest and Miracle Awakening in 2018 will be reproduced."

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