Kakao Games' 'Odin' Hits Big, Now Targeting Taiwan (Comprehensive)

Namgoong Hoon and Jo Gye-hyun Co-CEOs of Kakao Games

[Asia Economy Reporter Buaeri] Kakao Games announced on the 4th that its new title, "Odin: Valhalla Rising," achieved cumulative sales of 100 billion KRW within 19 days of its release. Kakao Games is preparing to enter the Taiwanese market with Odin.

On the same day, Kak Jae-hyun, co-CEO of Kakao Games, revealed this information during a conference call following the Q2 earnings announcement.

Kakao Games recorded sales of 129.5 billion KRW and an operating profit of 8.1 billion KRW in Q2. Sales increased by 22% year-on-year, while operating profit decreased by 49.5%. The performance of "Odin," released on June 29, was not fully reflected. The company explained that once Odin's sales are included, the effect of driving sales in the second half of the year will be maximized.

In the mobile game sector, sales reached 84.3 billion KRW, driven by the launch of "Odin: Valhalla Rising," the global expansion of "Moonlight Sculptor," and content updates for existing mobile games such as "Guardian Tales."

The PC online game sector recorded sales of 18.8 billion KRW. Other revenues, led by subsidiary Kakao VX, increased by approximately 66% year-on-year to about 26.4 billion KRW, thanks to the booming golf industry and effective strategies utilizing the "Kakao Friends" intellectual property (IP).

Kakao Games plans to focus on content updates and improving service completeness to maintain the long-term performance of "Odin."

Kakao Games is also preparing for the domestic release of the new mobile game "Friends Shot: Anyone Golf" and the global launch of "World Flipper." Additionally, it plans to expand market competitiveness through overseas releases of PC online games.

Through the acquisitions of Senatechnology and AdX, Kakao Games aims to expand new businesses and strengthen its revenue base, leveraging business capabilities across various fields to build a foundation for mid- to long-term growth.

Kakao Games is also preparing for the overseas release of Odin in Taiwan. CEO Cho emphasized, "The Korean and Taiwanese markets have many similarities, so we plan to enter without major changes," adding, "Odin has excellent graphics and balance, so it will have sufficient competitiveness globally."

Kakao Games also hinted at a major new title. CEO Cho said, "There is a new title to be revealed next year that has not been disclosed at all yet," adding, "It is expected to be unveiled around the fourth quarter."

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