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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

Devsisters Q1 operating loss widens to 17.4 billion won, seeks turnaround with overhaul and new titles

Devsisters reported a wider loss in the first quarter as its existing titles stabilised at lower levels and new releases underperformed. The company said preliminary revenue under K-IFRS fell 2 percent from the previous quarter to 58.5 billion won. It posted an operating loss of 17.4 billion won and a net loss of 15.1 billion won. Devsisters plans companywide management reforms and second-half game launches to seek a turnaround.

Games & Commerce

Devsisters announces optimisation and balance improvements for Cookierun: Ovensmash

Devsisters said it held a live broadcast on its official YouTube channel on April 2 and announced plans to optimise Cookierun: Ovensmash and improve character balance. Chief Executive Cho Gil-hyeon and co-producer Lee Won-young apologised for user inconvenience and pledged fixes. The company plans an update next week adding a new mode and cookies, along with patches to reduce loading times and improve controls, convenience and audio effects.