Pedestrians walk past Wemade's headquarters in Bundang-gu, Seongnam, Gyeonggi Province. [Herald DB]
Pedestrians walk past Wemade's headquarters in Bundang-gu, Seongnam, Gyeonggi Province. [Herald DB]

Wemade is effectively passing to Chinese capital after Park Kwan-ho, the game company's largest shareholder and board chairman, agreed to sell his entire stake for about 920 billion won ($597 million). NeoPulse, an investment platform with ties to Alibaba and a network of major Chinese game companies, is leading the acquisition. Wemade plans to use the deal as a springboard to accelerate global title development and a shift toward AI-driven game operations, leveraging its "Mir" intellectual property, which holds strong recognition in China.

Wemade announced Tuesday that Park had signed a share purchase agreement covering all shares he held in the company.

The total transaction is valued at about 920 billion won. NeoPulse, a Chinese investment platform, said it decided to invest after highly rating Wemade's MMORPG development capabilities and the competitiveness of its flagship Mir IP in the Chinese market.

NeoPulse plans to pursue new global title development — including in the Chinese market — and expand the Mir IP business going forward. It also intends to broaden cooperation with major Chinese IT companies, game developers and publishers. The company aims to diversify business models built around the Mir IP and widen its revenue base through global distribution networks and local partnerships.

AI is another central pillar of the deal. Both Wemade and NeoPulse view AI technology as a key factor that will reshape how games are developed and operated. The two companies plan to integrate AI across the entire game production process — from next-generation graphics and digital humans to live service operations — with the goal of raising content quality and enhancing the user experience.

The 920 billion won price reflects the Mir IP's revenue-generating power in China and its future growth potential. Wemade has continued to develop the Mir IP business through subsidiaries including Jeongi IP. NeoPulse appears to have concluded that applying AI technology and adding global distribution synergies on top of the existing IP's profitability leaves significant room for further growth.

The stake sale is also expected to mark an inflection point for Wemade's China business expansion. The Mir IP is one of Wemade's core assets, with strong brand recognition in the Chinese market. With NeoPulse's investment and gaming network in China added to the mix, the scope for cooperation in local title development, publishing and IP licensing could widen considerably.

"The future of the game market will be determined by how effectively companies harness AI," a Wemade official said. "This partnership, built on strong mutual understanding and trust, will be a pivotal moment in securing a leading position in the next-generation game market. Wemade will continue to meet market expectations by strengthening its localization strategy and AI-based game development capabilities."

Wemade also published its "Wemade Sustainability Report 2025" on Tuesday, detailing the company's 2025 ESG (environmental, social and governance) management performance and key initiatives.


rim@heraldcorp.com