New NCsoft joint venture 'NCV Games' to launch Lineage2M in Southeast Asia

NCsoft formed a joint venture with VNGGames to expand into Southeast Asian market, starting with the debut of Lineage2M.

NCsoft founder and CEO Kim Taek-jin, left, and VNG Chairman and CEO Le Hong Minh attended a signing ceremony for the establishment of NCV Games in Ho Chi Minh City on Tuesday. [NCSOFT]

NCsoft established a Singapore-based joint venture with Vietnamese publisher VNGGames to aid its advancement in to the Southeast Asian market, the developer said Wednesday.

The joint venture, called “NCV Games,” will handle the service and operation of NCsoft’s game franchises in Southeast Asia, kicking off with the debut of Lineage2M in the latter half of this year in Vietnam, Thailand, Malaysia, Indonesia, Singapore and the Philippines.

The new venture aims to leverage VNGGames' experience to tailor new services to the Southeast Asian market.

The two companies have not disclosed the respective sizes of their investments or stakes.

VNGGames is a game subsidiary of Vietnamese tech giant VNG Corporation, which publishes more than 130 games in the Southeast Asian region. VNG became Vietnam's first-ever unicorn after reaching a $1 billion in 2014.

NCsoft founder and CEO Kim Taek-jin and VNG Chairman and CEO Le Hong Minh attended a signing ceremony for the establishment of NCV Games at VNG Games' office in Ho Chi Minh City on Tuesday.

“VNG is pushing ahead in various businesses other than games, such as in messaging and payment services as well, and is the best partner for NCsoft with successful game servicing capabilities deriving from a high understanding of local users in the six Southeast Asian countries,” Kim said in a statement. “NCV Games will be the basis for NCsoft to showcase new, innovative services in the region.”

NCsoft has been investing in both domestic and overseas companies as it struggles to diversify its portfolio outside of the cash cow Lineage franchise.

The company announced Monday that it had invested 37 billion won ($27 million) in Vic Game Studios, obtaining the global publishing rights to domestic developer’s upcoming title Breakers Unlock the World.

Last month, it also made a $3.5 million investment in Swedish developer Moon Rover Games, founded by former employees of DICE, the Electronic Arts subsidiary behind the acclaimed Battlefield franchise.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]