Game Company CEOs Set for Consecutive Terms... All-Out Efforts to Secure Growth Engines Like AI

Game Industry Chooses Leadership Continuity Over Change
Stabilizing Organizations and Accelerating New AI Businesses Amid Uncertainty

South Korean gaming companies are set to finalize the reappointment of key executives, including chief executive officers (CEOs), at their annual general meetings (AGMs) this March. As these companies pursue future growth engines powered by artificial intelligence (AI) technology, they plan to stabilize their organizations and drive new business initiatives under proven leadership.

According to the industry on March 17, Krafton will hold its AGM on the 24th, addressing the reappointment of Chairman Jang Byunggyu and CEO Kim Changhan. CEO Kim, who played a pivotal role in the success of "PUBG: Battlegrounds," is seeking a second consecutive term.

At the regular AGM in March 2023, when the company’s stock price had fallen to the 100,000 won range, he reassured shareholders by announcing a plan to repurchase and retire treasury shares. Before the vote, he stated, "If I am reappointed, I will do my utmost to ensure that the company’s and my own accumulated capabilities shine during my term. However, if I continue to be incompetent throughout the three-year term, I am prepared to retire even before then."

Although the stock price remains at about half its initial public offering price of 498,000 won, bold shareholder return policies recently announced and efforts to expand business into the AI sector are increasing the likelihood of his reappointment. Krafton aims to reduce its reliance on the "Battlegrounds" intellectual property (IP) and transform itself into a company driven by AI technology.

Nexon will decide on the reappointment of CEO Lee Jeongheon and the approval of Patrick Soderlund, the inaugural chairman of its Japanese subsidiary, as a board member at its AGM on the 25th. The establishment of the new chairman position and appointing a subsidiary head to this role is considered unusual, driven in part by the commercial success of "The Ark Raiders," developed by Embark Studios. Released globally on October 30 last year, the game has surpassed 14 million cumulative sales. Nexon plans to leverage Chairman Soderlund, who enjoys high recognition among gamers, to further its expansion into Western markets.

Kakao Games will also handle the reappointment of CEO Han Sangwoo at its AGM on the 26th. CEO Han, who previously served as Chief Strategy Officer (CSO), has led the company since 2024. Despite a turn to losses last year due to the absence of anticipated new titles, Kakao Games’ decision to retain Han is understood as a move to ensure leadership continuity and organizational stability. On the same day, NHN CEO Jung Woojin will seek his fourth consecutive term. CEO Jung has strengthened not only the gaming business but also the company's AI infrastructure and payment divisions via the cloud. Netmarble will discuss the reappointment of founder and board chairman Bang Junhyuk at its AGM on the 28th.

NCSoft plans to change its company name from "NCSoft" to "NC" at its AGM on the 26th. This marks the first name change since its founding in 1997 and is intended to unify the brand with the NC Cultural Foundation and its subsidiaries. Co-CEO Park Byungmoo recently expressed confidence at a business strategy meeting, declaring, "We aim to achieve annual sales of 5 trillion won by 2030," drawing attention to whether the new name will accompany a transformation of the company’s structure. NCSoft is also exploring a range of new business opportunities in the AI sector through its subsidiary, NC AI.

An industry official commented, "In a time of significant internal and external economic uncertainty, gaming companies are prioritizing stability over change. They will continue their efforts to secure growth, including actively leveraging AI technology."

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