Cash hoard of Korean game companies shrinks 42% in H1
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
According to disclosures with the Financial Supervisory Service (FSS) and financial market tracker FnGuide on Thursday, cash and equivalent assets of 29 listed game companies in Korea shrank 42 percent to 4.29 trillion won ($3 billion) by the end of June from six months earlier.
Out of the top 10 largest market-cap game companies, DoubleU Games was the only company that saw an increase in its cash hoard over the last six months.
Krafton, industry No. 1 in terms of market cap, shaved cash reserves from 3.02 trillion won to 1.19 trillion. Of 4.3 trillion won raised from its IPO in August last year, it pledged to invest 70 percent in global M&As. It acquired U.S. game developer Unknown Worlds in October last year and E-Mart's headquarters building in the affluent Seongsu-dong area for 1 trillion won together with Mirae Asset Group. In the first half of this year, it spent about 10 billion won each to buy a figure design and manufacturing firm and a graphic novel studio.
Mid-tier game companies Pearl Abyss and Wemade were also eager about real estate investments. Pearl Abyss’s cash assets slimmed from 243.9 billion won at the end of last year to 199.2 billion won at the end of June after its purchase of a new head office building in Gwacheon, a city in Gyeonggi Province. Wemade made real estate investments in Pangyo, also in the Gyeonggi Province area, as well as Yeoksam in Seoul.
The game companies could be too short in cash to make timely investments for new games and strategic moves if much of their assets are piled in real estate properties, industry observers said.
Kakao Games and Com2uS mainly focused on investing in blockchain companies.
After acquiring a stake in Lionheart Studio, the game developer behind the blockbuster mobile game “Odin: Valhalla Rising,” Kakao made a strategic investment of around 18.5 billion won in U.S. game studio Playable Worlds that is due to release a cloud-based MMORPG and a metaverse service next year. Com2uS invested more than 10 billion won in Com2Verse, its metaverse subsidiary.
Big-name game companies such as NCSoft, Netmarble, and Nexon Games also lost a large amount of their cash from financial activities such as repaying corporate bonds and paying taxes from selling company stakes.
Cash reserves of NCSoft plunged from 255.9 billion won to 216.8 billion won, Netmarble from 1.35 trillion won to 706 billion won, and Nexon Games from 58.7 billion won to 41.1 billion won during the six months.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- Hyundai Mobis CEO elected as ISO president - Pulse by Maeil Business News Korea
- Bosung Group attracts $2 billion investment to build large data center in Korea - Pulse by Maeil Business News Korea
- Hanmi Pharm shares down on FDA panel’s disapproval of fast-tracking poziotinib - Pulse by Maeil Business News Korea
- Korea leveraging on US-led alliance to secure materials for batteries and high tech - Pulse by Maeil Business News Korea
- Kakao Games faces class action from Korean players of “Uma Musume Pretty Derby” - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- K방산 아킬레스건은 [K-방산 : New Dream]
- NCT 태일, 불미스러운 일로 팀 탈퇴…SM “엄중함 인지”[공식입장][전문] - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이