Wemade Settles Legend of Mir IP Royalty Dispute With China’s Kingnet

Received Settlement Payment of 43 Billion Won

Wemade announced on April 29 that it has concluded its royalty dispute over the intellectual property (IP) of "Legend of Mir 2" with Chinese company Kingnet through a settlement agreement. Wemade received a settlement payment of approximately 43 billion won (198,643,893 yuan).

The dispute between Wemade and Kingnet began when Kingnet’s subsidiary, Zhejiang Huanyu, failed to pay royalties for the game "Namwoljeonki," which was serviced in China since 2016 based on the "Legend of Mir 2" IP. Wemade won both international arbitration and a lawsuit in a Chinese court, securing recognition of its rights as the original copyright holder and obtaining a judgment obligating Kingnet to pay damages for unpaid royalties. Subsequently, Wemade pursued enforcement procedures to collect the damages.

However, Wemade explained that the settlement agreement was reached to resolve the risks associated with the prolonged dispute and to stably advance the "Legend of Mir 2" IP business. As a result, both parties have withdrawn all related arbitration and litigation procedures.

Separately from this agreement, Wemade was recognized as the original copyright holder of "Legend of Mir 2" and its rights by the International Court of Arbitration of the International Chamber of Commerce (ICC) on March 21. The court completely dismissed Zhejiang Huanyu’s claim in 2023 seeking to invalidate the license agreement and demand damages from Wemade.

A Wemade representative stated, "This settlement agreement is a meaningful case in which we held those responsible for illegal copyright infringement fully accountable and restored the rights of the original copyright holder. We will continue to actively protect major IPs, including 'Legend of Mir 2,' and further enhance their value going forward."

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