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Games & Commerce

Neowiz Q1 operating profit falls 32 percent, speeds development of \'Lies of P\' sequel and other titles

Neowiz posted double-digit sales growth in the first quarter on the strength of mobile game hits and stable performance from core intellectual property, but operating profit fell 32 percent to 7.0 billion won. First-quarter sales rose 14 percent to 101.4 billion won and net profit was 15.5 billion won on foreign exchange gains. The company plans events around key IP in the second quarter and is accelerating development of a \'Lies of P\' sequel and other projects.

Games & Commerce

Korean game makers seek breakthrough on consoles as mobile growth slows

South Korean game companies are increasingly turning to consoles as growth in mobile games slows. A Korea Creative Content Agency report showed console game exports rose 15.1 percent in 2024 to $213.76 million, the fastest growth among platforms, while PC game exports fell. Recent sales successes, including Pearl Abyss’ Crimson Desert, have reinforced the shift. Companies are expanding multi-platform lineups, though revenue structures and long development cycles pose challenges.

Games & Commerce

Pearl Abyss to launch Crimson Desert globally, targets console market after 7 years

Pearl Abyss will launch its open-world action-adventure game Crimson Desert globally on March 20 after seven years of development. The release is seen as a test of whether the company can reduce its reliance on the Black Desert IP and whether Korean games can compete in the console package market beyond mobile MMORPGs. Ahead of launch, the title topped Steam’s global best-seller ranking. Metacritic’s PC score was 78, with mixed reviews.