“[Digital Daily, Moon Dae-chan] ‘This year is an important inflection point for Netmarble to achieve a resurgence.'”
Netmarble CEO Kim Byung-kyu stated at the 14th annual general meeting of shareholders, held at the new headquarters’ G-Tower convention hall in Guro-gu, Seoul on the 31st, “2024 was a meaningful year in which we laid the groundwork for revenue growth and profitability recovery through the successful launch of major new titles like ‘Solo Leveling: ARISE’ and ‘Raven 2’ and the effects of cost efficiency.”
He further noted, “We plan to establish a sustainable revenue generation base through the release of a total of nine new titles, including ‘Game of Thrones: Kingsroad’ and ‘The Seven Deadly Sins: Origin’, and to further solidify our presence in the global market.”
At the shareholder meeting that day, the company reported key financial results for 2024, including consolidated sales of 2.6638 trillion won and operating profit of 215.6 billion won. All six proposed agenda items, including approval of financial statements, partial amendment of articles of incorporation, appointment of directors and audit committee members, and approval of director compensation limits, were passed as originally proposed.
Particularly, with Kwon Young-sik stepping down as co-CEO, Kim Byung-kyu will transition to the sole CEO system. Kwon will participate as a major decision-maker in the newly established ‘Management Strategy Committee’ and contribute to enhancing the development capabilities of Netmarble’s subsidiaries and Netmarble’s game business strategy based on his extensive experience and know-how.
Kim Byung-kyu, who became the sole CEO just a year after being appointed co-CEO, focuses on enhancing the company’s global competitiveness to respond more proactively to the rapidly changing external environment and pursue a resurgence.
Additionally, Lena Chan, head of business development at Tencent Games, was newly appointed as a non-executive director, and external director Lee Chan-hee, whose term was expiring, was reappointed.
There was also mention of Netmarble Neo’s IPO plans that day. The industry speculated that Kwon stepping down might be to focus on the IPO of Netmarble Neo, which he also headed.
In response, Kim emphasized, “Kwon Young-sik’s stake in Netmarble Neo is minuscule compared to Netmarble’s. It’s difficult to push ahead with an IPO plan solely for the management’s benefit.”