Wemade, a gaming company, is entering a new phase of investment following the sale of shares by its founder and largest shareholder, Park Kwan-ho. Park stated that expanding into larger markets is not just a choice but a necessity for survival in the industry.
On June 30, Wemade announced that Park has sold his entire 39.33% stake to Neopulse. Once the transaction is finalized, Neopulse will hold a 40.25% stake in Wemade, making it the largest shareholder.
Neopulse is an investment platform fully owned by Hong Kong-based investment firm Shengsong Investment, led by Chen Wei, who is reportedly connected to Alibaba.
This transaction marks a significant shift for Wemade, transitioning from a founder-led governance structure to one centered around external capital for the first time in 26 years.
In a message on the same day, Park emphasized the need for a realistic assessment of the company's position, stating, "The gaming industry can no longer be confined to a single country." He added that the era of planning the company's future solely based on the Korean market has passed, and that expansion into larger markets is essential for survival. "Now is the time to lay the groundwork for that leap," he said.
Highlighting strategies for the Chinese and global markets, Park noted that the Mir IP continues to hold significant value in China, while North America and Europe present important opportunities. He explained that to convert these two pillars into growth, appropriate partners and resources are necessary.
Park also underscored the changing paradigm in the industry, stating, "AI is transforming both the way games are created and enjoyed. We must become a company that leads the flow, not just follows it."
He concluded by expressing his deep connection to Wemade, saying, "Wemade has been like a child to me. After many years together, it is now time for the company to grow independently in a larger market."
* This article has been translated by AI.
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