Nexon NCSoft

In June 2012, Nexon purchased a 14.7% minority stake in NCSoft, paying $688 million and becoming NCSoft’s largest shareholder. Just three years later, Nexon has decided to divulge itself of those shares, as revealed in a public statement, as discovered by MMOCulture.


Nexon purchased 3.218 million shares in NCSoft at 250,000 Korean won (KRW) apiece in 2012. According to the above statement, Nexon Korea had another 88,806 shares, making for a total of 15.06% of all NCSoft shares. Nexon is selling those shares for 183,000 KRW each, representing a 26.8% drop from the price three years ago.

Overall, the quoted sale price of 605,162 million KRW comes to about $535 million, a sharp dropoff from the $688 million paid to acquire the shares in 2012, a difference of 22.2% (different from the above number due to fluctuating exchange rates).

A look at NCSoft’s corporate page shows the company’s stock as being valued at 196,500 KRW per share as of Oct. 16, with an exceptionally high number of shares being traded today.

Officially, the transaction is being made because “no significant synergies have been realized between the two parties.” But despite saying that Nexon hopes “to maintain good relationship with NCSOFT Corporation,” their relationship during this time has been less than rosy, leading to some deft corporate maneuvering by NCSoft to maintain a higher percentage of its voting shares than Nexon, as described by Business Korea:

On Jan. 27, Nexon declared that it will take part in the management of NCSOFT. Nexon pressured NCSOFT by sending NCSOFT a shareholder’s suggestion, which contained agenda items for shareholder meetings… The two companies announced on Feb. 17 that NCSOFT will obtain a 9.8 percent equity in Net Marble Games, while Net Marble Games gets an 8.9 percent equity in NCSOFT… Therefore, NCSOFT secured a tool to keep its management control with an 18.8 percent share that has voting rights.

However you look at it, Nexon took a substantial financial loss and, after losing what control it had over NCSoft, apparently decided to end a relationship that provided it with little value.

Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.


  1. MEanwhile, on private servers… we are playing flawless no cash transactions. Greed kills ya in the end. Make it once, stop making million dollar contracts, be honest and privatize it, never die. VIVA LE HACKER!

    • Hate to break it to you, buddy, but you’re just a cheap-ass. You’re playing on private servers because you feel entitled to have everything, and pay for nothing. There’s nothing romantic about that.

      • While in normal context, you would be right, in this context you’re not quite right.

        Just look at Maplestory, it’s so massively pay to win that you have to spend hundreds, even thousands, to be competitive from mid-late to late game. You have to buy a pet to not rip your hair out from the hundreds of items that drop every minute from farming, as well, before endgame.

        Giving P2Win titles the benefit of the doubt will do nothing but hurt the gaming industry.

        You should be able to buy all the power you can get with $60, except in the case of ever evolving MMORPGs that require constant upkeep and updates.

        • no, he is right even in this contex unless,
          you spend your time of the day by visit the stores of others people screaming and fussyng that they owe you the right to decide the price of their wares.
          if you don’t do that, but you seem convinced that game companies that publish mmorpg owe you this right because “muh is a gme!!1!” you are a naive hypocrite.

          • Private servers aside, are we supposed to just bend over and take Nexon’s ridiculous F2P models?

            They’ve ruined some of my favorite games with greed, I’m just hoping that Dirty Bomb, and all their upcoming games don’t suffer the same fate.

            You don’t need to ruin a game just to suck money out of your players, just look at games like TF2, Warframe, Skyforge (the caps really aren’t a bad thing holy shit), etc.

            These games stay fun for free players, allow free players to obtain pretty much everything (in some way or another, even cosmetics), and still offer good reasons to pay, generating a sustainable income to keep the game alive.

      • Also I’m a big loser who is mad and loves to glue my lips to nexon’s arse because I’m a fanboy who blows nexon america’s CEO nightly and swallows hot loads.


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