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Games & Commerce

Wemade chairman Park Kwan-ho says stake sale aims at bigger market push

Wemade Chairman Park Kwan-ho said a contract to sell all of his stake in the company was a decision to help it make a leap in bigger markets. Wemade said it signed a share purchase agreement for Park’s entire holding, worth about 920 billion won, led by global investment platform NeoPulse. Park said nothing changes immediately and he will continue to lead the company through the transition. He pointed to China and North America and Europe as key markets.

Games & Commerce

Wemade chairman Park Kwan-ho sells entire stake, signs 920 billion won deal with NeoPulse

Wemade said its largest shareholder, Chairman Park Kwan-ho (박관호), will sell all of his holdings to a global investment platform. The company said Park signed a share purchase agreement on June 30 for about 920 billion won. The acquisition is led by NeoPulse, an investment platform with close ties to Alibaba and major Chinese gaming companies. NeoPulse cited Wemade’s MMORPG capabilities and the Mir IP’s competitiveness in China.