Korea Game Society Criticizes Tencent's Attempt to Acquire Nexon as Undermining Industrial Sovereignty

The Game Industry Should Be Designated as a "National Strategic Industry"
and Protective Measures Must Be Established

The Korea Game Society criticized Tencent's attempt to acquire Nexon on June 16, stating that it is "an attempt to undermine industrial sovereignty that goes beyond the penetration of foreign capital into the Korean game industry."

In a statement released that day, the society asserted, "This is a matter of national security that the government cannot remain neutral about," and argued, "It is not simply a transaction between private companies, but an organized attempt to dominate a core industry of the Republic of Korea."

The society called on the government to designate the game industry as a "national strategic industry" and to establish institutional measures in response to the acquisition attempt. Wi Jung-hyun, president of the Korea Game Society and professor at Chung-Ang University's School of Business, emphasized, "This situation will serve as an important litmus test for how the Lee Jaemyung administration views the game industry. The government and the National Assembly must no longer ignore or evade the situation," adding, "Immediate regulatory measures and industry protection actions must be implemented."

Previously, Bloomberg News reported on June 12 that Tencent was considering acquiring Nexon for $15 billion (20 trillion won) and had contacted the family of the late founder Kim Jungju. However, on June 13, a Chinese IT media outlet reported that Tencent had never considered acquiring Nexon or discussed any deal with Kim's family. Nexon stated that it "cannot comment on market rumors and speculation" and did not provide an official position.

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