Netmarble announced that it held its 14th annual general meeting of shareholders on the 31st at the G Tower Convention Hall located in Guro-gu, Seoul.
At this shareholders' meeting, it reported key management results for 2024, including consolidated revenue of 2.6638 trillion won and operating profit of 215.6 billion won. Additionally, six proposals, including approval of financial statements, some amendments to the articles of incorporation, appointment of directors and Commissioners, and approval of the limit on directors' compensation, were all passed as originally proposed.
In particular, following the resignation of Co-CEO Kwon Young-sik, Kim Byung-kyu has transitioned to the sole CEO system. Kwon will participate as a key decision-maker in the newly established "Management Strategy Commission" to contribute to strengthening the development capacity of Netmarble's subsidiaries and the game business strategy based on his extensive experience and know-how.
Kim Byung-kyu, who became sole representative after one year as Co-CEO, noted that he will focus on actively responding to rapidly changing external environments while strengthening the company's global competitiveness for a rebound. Additionally, Lina Chuan, head of business development at Tencent Games, has been newly appointed as a non-executive director, and Lee Chan-hee, whose term has expired as an outside director, has also been reappointed.
In his remarks at the shareholders' meeting, Kim Byung-kyu emphasized, "This year is a crucial turning point for Netmarble to achieve a rebound." He added that through the release of nine new titles, including "Game of Thrones: Kingsroad" and "The Seven Deadly Sins: Origin," they will establish a sustainable revenue generation foundation and further solidify their position in the global market.
The shareholders' meeting also included a Q&A session with shareholders. When asked about the listing plans for Netmarble Neo, Kim responded, "Netmarble Neo needs to have enough competitiveness to survive in the market, and its contributions to Netmarble must be clear for it to be reviewed in principle." He continued, "There are concerns that Netmarble Neo's listing is about Kwon Young-sik's equity; however, compared to Netmarble, it is minimal," and added, "It would be difficult to push for a listing decision that neglects shareholders' interests for the benefit of a specific employee or executive."
Regarding the sale of HYBE equity carried out last year, he explained, "We traded with consideration of potential additional profits and losses, depending on how HYBE's stock price moves after the sale," and noted, "If BTS performs as a complete group and positively influences HYBE's stock price, Netmarble will also benefit from it."
Concerns have also been raised about Netmarble's weak ownership of its own game intellectual property (IP) while focusing on the Lineage series of massively multiplayer online role-playing games (MMORPGs). In response, Kim stated, "Having popular external IP to develop long-lasting games can significantly reduce marketing expenses." He added, "In the case of 'RAY 2,' which was released last year, aside from 'Lineage 2 Revolution,' it was our first attempt at a Lineage-style game, and despite being a latecomer, it received a favorable response in the market. Following this, we've also launched 'RF Online Next.' There is a meaningful market for Lineage-style games in South Korea, and it is necessary to create new revenue."
Netmarble's 'RF Online Next,' released on the 20th, ranked first in sales on domestic Google Play and Apple App Store after its official service. Kim noted, "While I would like to boldly pursue triple-A (blockbuster level) console games, if it results in reckless outcomes, it would be a significant burden to shareholders, so I plan to sequentially challenge PC or consoles when I have confidence in success."