Webtoon Entertainment, the parent of Naver Webtoon, said on Tuesday it made a strategic investment in game developer RI Games Holdings.

Webtoon Entertainment will secure a 60% stake in RI Games Holdings when the deal closes. The investment will allow Webtoon Entertainment to build a base for game development using its intellectual property.

RI Games Holdings was founded in 2022 and has two game development studios, including Grey Games and Offbeat. The two companies plan over the next 4 years to develop and release multiple new games based on major webtoon IPs.

The development lineup includes games based on the webtoons "Overgeared" with 1.3 billion global views, "Tushin Tansaenggi" with 590 million global views, and "Omniscient Reader's Viewpoint" with 3.05 billion global views.

The first new title is an action massively multiplayer online role-playing game based on "Overgeared." Grey Games will handle development and Nexon will publish it, with a global release planned for this year. The company plans to release the game within this year to align with an animation broadcast schedule set for October and strengthen IP linkages.

Junkoo Kim (김준구), chief executive officer of Webtoon Entertainment, said, "Games are one way to deliver immersion to fans, and turning beloved stories into games is a way to reach new users around the world." He added, "It will further solidify Webtoon's achievements in creating successful global franchises."

Taeil Han (한태일), founder of RI Games Holdings, said, "Based on our understanding of webtoon IP, we will provide highly immersive game experiences and expand fandom to present games that broaden the base of IP."