Saudi Sovereign Wealth Fund Invests Over 800 Billion KRW in NCSoft Following Nexon Investment

[Asia Economy Reporter Kang Nahum] The Saudi Arabian sovereign wealth fund PIF (Public Investment Fund), known as 'oil money,' has made an investment of over 1 trillion won in Nexon, followed by an 800 billion won investment in NCSoft.

On the 9th, PIF disclosed through its legal representative in Korea, Kim & Chang, that it holds 1,468,845 shares of NCSoft. This amounts to a 6.69% stake in NCSoft, valued at approximately 800 billion won. The purpose of acquiring the shares was disclosed as 'simple investment.'

PIF began purchasing NCSoft shares on the 26th of last month, acquiring 1,092,891 shares, and continued to buy shares in six transactions up to the day before. With this investment, PIF has become the fourth largest shareholder of NCSoft.

Led by Crown Prince Mohammed bin Salman, PIF is known to manage a fund worth $500 billion (approximately 600 trillion won). Crown Prince Mohammed has shown great interest in the gaming industry. Since 2020, he has secured stakes in global renowned game companies, including the acquisition of the Japanese game company SNK, as well as shares in Activision Blizzard and Electronic Arts (EA).

Recently, PIF also acquired 1.0578 trillion won worth of Nexon shares listed on the Japanese stock market, becoming the fourth largest shareholder (5.02%). At that time, the acquisition purpose was also announced as 'simple investment.'

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