Lotte Confectionery's In-house Venture 'Stand Egg,' Creator of the Game 'Goyangijeongwon,' Spins Off as an Independent Corporation

(From the right) Stand Egg CEO Kim Seong-gyun, CEO Go Young-woo, Lotte Confectionery New Business Manager Park Min-gyu. Photo by Lotte Confectionery

[Asia Economy Reporter Song Seung-yoon] Lotte Confectionery announced on the 26th that its first in-house venture, 'Stand Egg,' will spin off as an independent corporation. Stand Egg is Lotte Confectionery's first in-house venture, established in May last year with the purpose of entering the mobile game business.

The mobile game developed by Stand Egg, 'Goyang-i Jeongwon (Cat Garden),' officially launched last May and, as of last month, has about 140,000 users. Reflecting the tastes of the MZ (Millennial + Generation Z) generation who like cute and charming things, it utilizes the merge genre, a type of puzzle game. The in-game currency accumulated during gameplay can be exchanged for Lotte Confectionery products, considering synergy between businesses.

While in-house venture teams in companies generally pursue commercialization based on the company's existing business model, Stand Egg set mobile gaming as its main business model. Recognizing Stand Egg's business potential, Lotte Confectionery made a 500 million KRW equity investment following the spin-off. Stand Egg plans to use the investment to carry out various marketing activities for future business expansion.

They are also actively engaged in social contribution activities. Recently, they donated the sales proceeds from a 'Donation Package' sold together with users to Save the Children, and are conducting an 'RT Challenge' where they donate Pepero to Save the Children proportional to the target number of retweets.

Go Young-woo, CEO of Stand Egg, said, "We will strive to become a company that can deliver differentiated services to customers and create new value through activities such as collaborations between different industries."

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