Wemade's 'Coin Lobbying' Allegations Head to Appeal... "We Will Respond with Our Best Efforts"

Korea Game Society to Appeal:
"Scholar Terror by Coin Capital"
Wemade Gains Advantage After First Trial Victory,
Vows to Respond Actively

The legal battle surrounding Wemade's so-called "coin lobbying" allegations is expected to be prolonged. The Korea Game Society, which recently lost the first trial in a damages lawsuit filed by Wemade, has immediately decided to appeal and expressed its determination to see the case through to the end.

Wemade Headquarters, Seongnam-si, Gyeonggi Province. Photo by Yonhap News

According to the game industry on July 29, the Korea Game Society issued a statement the previous day, criticizing, "The first trial ruling failed to prevent a situation where academic criticism and freedom of conscience are threatened by coin capital." The society further emphasized, "We condemn the 'scholar terror by coin capital Wemade' and will pursue the truth to the end in the appellate court."

The controversy began in May 2023 when the president of the society raised suspicions regarding Wemade. The president has claimed in statements, media interviews, and forums that "Wemade engaged in lobbying activities by providing the virtual asset 'WEMIX' free of charge to members of the National Assembly and their aides to create a shared interest, thereby forming a WEMIX profit community."

He also stated, "Wemade is at the center of lobbying for play-to-earn (P2E) games," and insisted, "Wemade should reveal the truth about 'Coin Gate' and conduct a full investigation into whether National Assembly members and their aides hold WEMIX."

In response, Wemade filed a criminal complaint against the society president for defamation by spreading false information. Subsequently, in July of the same year, Wemade filed a civil lawsuit seeking 500 million won in damages, later reducing the claim to 50 million won. On July 24, the court ordered the society president to pay 30 million won in damages.

The society pointed out that this ruling could seriously undermine academic and expressive freedom. It reiterated its claim that Wemade had lobbied the National Assembly, citing a Facebook post by former People Power Party lawmaker Ha Taekyung at the time. Ha specifically named Wemade, stating that "there was P2E coin legislative lobbying." The society questioned, "Does Wemade deny this testimony? If not, why did they not sue former lawmaker Ha for spreading false information?"

The society also demanded an explanation for Wemade's 14 visits to the National Assembly between September 2020 and April 2023, including three visits to the office of former lawmaker Heo Euna. The 'Metaverse Industry Promotion Act' proposed by Heo Euna has been criticized as effectively legalizing P2E, and the society insisted that Wemade should clarify whether it exerted direct or indirect influence during the bill's proposal process.

After winning the first trial, Wemade stated that it "expects to restore its damaged corporate image and reputation," but did not issue a rebuttal, asserting only that the society's claims were not factual. A Wemade representative said, "We are waiting for the court's written ruling," and added, "Although it seems unlikely that the appellate court will overturn the decision, we will do our best to respond."

Meanwhile, industry insiders have criticized the society for fueling controversy based solely on suspicions. Previously, in June 2023, former lawmaker Heo Euna refuted allegations that she had proposed the bill after being lobbied by Wemade, stating, "That is not true. I suspect there may be other political motives behind the excessive media targeting me."

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