Netmarble Transitions to Sole CEO Kim Byung-kyu System... "This Year Marks a Turning Point for Rebound"

Regular Shareholders' Meeting Held
Former CEO Kwon Young-sik Joins Management Strategy Committee

Netmarble announced on the 31st that it held the 14th regular general meeting of shareholders at the new headquarters G-Tower Convention Hall located in Guro-gu, Seoul.

At the shareholders' meeting, all six agenda items, including ▲approval of financial statements ▲partial amendment of the articles of incorporation ▲appointment of directors and audit committee members ▲approval of the director remuneration limit, were passed as originally proposed.

On the morning of the 31st, the 14th regular shareholders' meeting was held at Netmarble headquarters in Guro-gu, Seoul. Photo by Netmarble

Netmarble recorded consolidated sales of 2.6638 trillion KRW and operating profit of 215.6 billion KRW last year.

In particular, following the resignation of Co-CEO Kwon Young-sik, the company transitioned to a sole CEO system under Kim Byung-kyu. CEO Kwon will participate as a key decision-maker in the newly established Management Strategy Committee, contributing to strengthening the development capabilities of Netmarble's affiliated developers and the company's game business strategy.

Kim, who became sole CEO just one year after being appointed co-CEO, is focusing on responding to the rapidly changing external environment and enhancing global competitiveness.

Additionally, Lina Chuan, Head of Business Development at Tencent Games, was newly appointed as an outside director, and Lee Chan-hee, whose term had expired, was reappointed as an outside director.

In his greeting at the shareholders' meeting, Netmarble CEO Kim Byung-kyu reflected, "The year 2024 was a meaningful year that laid the foundation for sales growth and profitability recovery, with the successful launch of major new titles such as 'Solo Leveling: ARISE' and 'Raven 2,' as well as the full-scale effect of cost efficiency."

He continued, "This year marks an important turning point for Netmarble's leap forward," emphasizing, "We will establish a sustainable profit-generating foundation and further solidify our position in the global market through the release of a total of nine new titles, including 'Game of Thrones: King's Road' and 'The Seven Deadly Sins: Origin.'"

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