Mgame Reports 17.5 Billion KRW in Q3 Sales... Strong Performance of China’s Yeolhyeol Gangho Online

Mgame announced on the 14th that it recorded consolidated sales of 17.5 billion KRW, operating profit of 4.2 billion KRW, and net profit of 3.2 billion KRW for the third quarter of 2023.

Third-quarter sales increased by 11.8% compared to the same period last year, marking the highest sales ever recorded for a third quarter. Since the fourth quarter of 2022, quarterly sales have hit record highs for four consecutive quarters, continuing the growth trend.

Operating profit and net profit decreased by 32.2% and 40.8%, respectively, compared to last year due to marketing expenses for the idle mobile game "Queens Knights," which was launched in August.

The record-high third-quarter sales were driven by the continued strong overseas performance of the PC MMORPG "Yeolhyeol Gangho Online" in China and "Knight Online" in North America and Europe, along with the added effect of the new title "Queens Knights."

Next year, the global launch of the idle RPG "Queens Knights" is planned within the first quarter. In Korea, the strategy is to maintain long-term engagement through regular updates and interactive operations tailored to the idle RPG genre.

In the first half of the year, the company will release "GwihonM," an MMORPG for mobile that transfers the worldview and characters of its side-scrolling MMORPG "Gwihon" IP to mobile, in Korea. Following this, a global launch is planned, starting with Asian markets where the original "Gwihon" is popular.

Additionally, the Chinese game company Kingnet will provide domestic service for the mobile MMORPG "Jeonmin Gangho," developed based on the graphics of "Yeolhyeol Gangho Online," along with publishing services for new games. "Jeonmin Gangho" was released in China last August and reached number one on the App Store popularity rankings.

Kwon Yi-hyung, CEO of Mgame, said, "Next year, we will raise expectations for successful service through the release of mobile games based on strong IPs such as 'Gwihon' and 'Yeolhyeol Gangho Online,' and focus on discovering new publishing games that target niche markets."

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