Mgame Achieves Record High Performance Since Establishment... "Releasing 2 Self-Developed Games This Year"
[Asia Economy Reporter Hyungsoo Park] Mgame has achieved its highest sales and profits since its founding in 1999.
On the 23rd, Mgame announced that it recorded consolidated sales of 73.4 billion KRW, operating profit of 30 billion KRW, and net profit of 22.7 billion KRW last year. Sales increased by 31.8% compared to the previous year, and operating profit rose by 63.3%.
In the fourth quarter of last year, it achieved sales of 29.4 billion KRW, operating profit of 14.5 billion KRW, and net profit of 9 billion KRW. These represent increases of 67.2%, 145.1%, and 49.2% respectively compared to the previous year.
An Mgame official explained, "The PC MMORPGs 'Yeolhyeol Gangho Online' and 'Knight Online,' which are recording a reverse-running legend, are gaining popularity."
The popularity of Yeolhyeol Gangho Online was confirmed in the extension contract signed in August last year. The contract was signed for 18.16 million USD, which is 390% higher than the previous contract. Knight Online added new servers last year. In December, it achieved the largest monthly sales since its service began in 2005.
Mgame will release an idle mobile RPG (RPG) titled ‘M Project (tentative)’ in the first half of this year. It is being co-developed with Billionaire Games, the developer of the representative successful idle RPG ‘Blade Raising’.
They are developing the mobile MMORPG 'GwiHonM' based on the intellectual property (IP) of the popular online game 'GwiHon.' The release is targeted for the second half of this year.
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Mgame CEO Kwon Eui-hyung said, "Since 2019, we have achieved the greatest results since our founding thanks to the success of China’s ‘Yeolhyeol Gangho Online’ and North America and Europe’s ‘Knight Online,’ which are writing a reverse-running legend." He added, "This year, we plan to increase the possibility of success for new titles and add new sales through a strategy of selection and concentration." He continued, "We will also focus on developing technologies such as blockchain and artificial intelligence (AI) to prepare future growth engines."
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