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Games & Commerce

Retail shareholders unite amid weak game stocks, press for meetings and treasury share cancellations

Retail shareholders in South Korea\'s game industry are stepping up collective action as weak share prices persist and calls to boost shareholder value grow. Investors in Pearl Abyss, Devsisters and Wemade have demanded shareholder meetings, buybacks and cancellations of treasury shares, limits on executive pay and disclosure on new game development. Some companies have responded with shareholder return plans, meetings and cost-cutting steps, while broader pressure on the sector is spreading.

Games & Commerce

Wemade Max shifts to sole CEO Son Myeon-seok, reorganises around five key studios

Wemade Max said on March 24 it will switch to a sole CEO structure under Son Myeon-seok and reorganise around five key studios. The company said the move aims to strengthen execution of its 2026 global portfolio strategy and speed decision-making on key intellectual property and strategic projects. Co-CEO Lee Gil-hyeong will remain on the board and focus on subsidiary Lightcon. Wemade Next CEO Park Jung-soo will resign, with Seong Jeong-guk appointed as successor.

Games & Commerce

Wemade Max reorganises development structure around core projects

Wemade Max said on Wednesday it is reorganising its development system to strengthen game development competitiveness amid changes in the global market. It is reviewing the roles of development teams and project strategies and shifting resources to core projects such as Mir5 and Project T. The company also plans to bolster development and operations for the live-service title Mir4, expand staffing for PC and console projects including Midnight Walkers, and increase adoption of AI-based tools and automation.