Webzen Reports Operating Profit of 102.9 Billion KRW Last Year, Down 4.86% YoY

[Asia Economy Reporter Kang Nahum] Webzen announced on the 9th that it recorded sales of 284.7 billion KRW and operating profit of 102.9 billion KRW last year on a consolidated basis. These figures represent decreases of 3.17% and 4.86%, respectively, compared to the previous year.

Sales in the fourth quarter of last year amounted to 68.7 billion KRW, down 25.75% year-on-year, and operating profit was 26.1 billion KRW, down 32.56%.

A Webzen official explained, "The annual performance was somewhat affected by a decline in sales of ‘MU Archangel,’ released in 2020, but the launch of ‘MU Archangel 2’ in the second half helped recover sales and achieve stability."

Webzen plans to reverse the performance downturn with the release of ‘MU Origin 3,’ overseas launches of existing titles, and the results of new projects preparing for service launches in the second half of this year and next year.

‘MU Origin 3’ completed internal testing and will be released in the first quarter after a closed beta test. Unlike previous ‘MU’ intellectual property (IP) games, it is the first game developed using ‘Unreal Engine 4,’ significantly enhancing graphics, gameplay, and mass appeal. Webzen expects that based on the improved gameplay of ‘MU Origin 3,’ it will attract not only fans of the existing ‘MU Origin’ series but also a broader range of gamers.

Webzen is also accelerating the application of non-fungible tokens (NFTs) to newly launched overseas titles and overseas service games. The company is focusing on expanding overseas market share by promoting existing games overseas and concretizing business directions for blockchain and ‘NFT’ games, while additionally securing related technologies.

Since the end of last year, Webzen has begun research on integrating blockchain technology with games, and besides collaboration with Wemade, it is increasing its own blockchain technology and business model planning.

Since the second half of last year, the ‘Unicorn TF,’ which has actively pursued external investments, is expanding its publishing and investment partner companies. Currently, it is in the process of signing game development and technology cooperation contracts with numerous indie game companies and small to medium-sized enterprises.

Kim Taeyoung, CEO of Webzen, said, "We are achieving visible results in investment activities to secure ideas and future technologies, which we expect will greatly help business diversification and mid- to long-term growth," adding, "While focusing on projects to expand performance this year, such as new releases and development completion, we will continue to expand investments while considering risks."

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