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Nexon Co., Ltd.
Native name
Company typePublic
TYO: 3659
IndustryVideo games
FoundedDecember 26, 1994; 31 years ago (1994-12-26)
Seoul, South Korea
Founders
HeadquartersMinato-ku, Tokyo, Japan[1]
Key people
Revenue¥274.5 billion (2021)[5]
¥91.5 billion (2021)[5]
¥114.9 billion (2021)[5]
OwnerNXC (60.2%)
Number of employees
7,067 (Dec. 2021)[6]
ParentNXC
Subsidiaries§ Organization
Websitenexon.com

Nexon Co., Ltd. (formerly Korean주식회사 넥슨) is a South Korea-Japanese video game developer and publisher specializing in live service games. It develops and publishes titles including MapleStory, Crazyracing Kartrider, Sudden Attack, Dungeon & Fighter, The First Descendant, and Blue Archive. Headquartered in Japan, the company has offices in South Korea, the United States, Taiwan, and Thailand.[7]

Nexon was founded in Seoul, South Korea, in 1994 by Kim Jung-ju. In 2005, the company moved its headquarters to Tokyo, Japan. However, its largest shareholder is an investment and holding company NXC, headquartered in Jeju Province, South Korea.[8]

History

[edit]
First logo (1994–2009)

Nexon was established in Seoul, South Korea, on December 26, 1994. It developed and published its first title, Nexus: The Kingdom of the Winds, in 1996, which the company continues to service.[9] Numerous other games followed, such as Dark Ages: Online Roleplaying, Elemental Saga, QuizQuiz, KartRider, Elancia, and Shattered Galaxy;[10] some of which are maintained by a company spun off of Nexon, Kru Interactive.[11]

Acquisition of Wizet

[edit]
Wizet's logo

In April 2001, Wizet, a game development company, was established in Seoul, South Korea.[12] The company was initially led by Seung-chan Lee, who was previously a lead developer for Nexon's QuizQuiz.[13] Wizet would develop and eventually release MapleStory for Korea in April 2003. Shortly after its release, the game reached a milestone of 100,000 concurrent users and 2 million registered users, according to the company's now-defunct website.[14] Wizet would launch MapleStory in Japan later that year with similar claims of success. In 2004, Nexon acquired Wizet[15] and since then has maintained active development and publishing of MapleStory.[16]

Acquisition of Neople

[edit]

Nexon is also the developer of Dungeon & Fighter, through its wholly owned subsidiary, Neople.[17][18] Dungeon & Fighter is one of the most popular free-to-play online PC games in China.[18][19]

2010s

[edit]

Nexon went public on the Tokyo Stock Exchange on December 14, 2011, in an initial public offering, the largest in Japan for 2011 and the second largest by a technological company for 2011 worldwide.[20] In April 2013, the programmer "DrUnKeN ChEeTaH" was sued by Nexon America for operating GameAnarchy, a popular subscription-based cheat provider for Combat Arms. Nexon was awarded $1.4 million in damages.[21]

On March 9, 2016, Nexon acquired Big Huge Games, a mobile game developer in Maryland.[22] In October 2018, a labor union was established at Nexon.[23] On January 3, 2019, The Korea Economic Daily reported that Nexon founder Kim Jung-ju and associates had put their 98.64 percent stake up for sale.[24] However, on July 8, 2019, Reuters reported that the plan was abandoned.[25] On November 25, 2019, The Lego Group announced the acquisition of Bricklink, a Lego fan community from Nexon's parent company NXC,[26] for an unknown price, which is expected to finish before the end of 2019.[27]

In 2019, the company announced plans to acquire Embark Studios, a studio founded by Patrick Söderlund, the former Chief Design Officer of Electronic Arts.[28]

2020s

[edit]

On June 2, 2020, Nexon announced plans to invest $1.5 billion in listed entertainment companies.[29] By March 2021, Nexon had deployed $874 million of that amount on investments into Hasbro, Bandai Namco Holdings, Konami, and Sega Sammy Holdings. Nexon stated that they had no interest in outright acquiring or taking activist investor positions in these companies.[30]

In a 2021 earnings call, Nexon CEO Owen Mahoney declined to offer hard launch targets for highly anticipated games.[31] In February 2021, Nexon announced significant pay increases for new and existing development talent in the company's Korean studios.[32] In July 2021, Nexon announced the formation of Nexon Film and Television. The division is based in Los Angeles.[33] In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake.[34] In February 2022, it was reported by Bloomberg that Saudi Arabian-based Public Investment Fund had purchased just over a 5% stake in Capcom and Nexon, reportedly worth US$883 million, while American investment company KKR acquired an 8.5% stake.[35]

In May 2022, Nexon announced the launch of Mintrocket, a sub-brand and division of Nexon that specializes on games "focusing on the essence of fun".[36] Its first game, Dave the Diver, was a commercial hit, selling one million copies within ten days of launch.[37] According to their own report, the Korean region earned the company the most in Q1–Q2 2022.[38] In late 2023, Nexon announced that CEO Owen Mahoney will be succeeded by Nexon Korea CEO Junghun Lee in 2024.[39] Nexon announced the development of The Kingdom of the Winds 2 on October 30, 2024, the sequel to its first-ever release 28 years ago.[40] Nexon made Mintrocket a wholly owned subsidiary in September 2024.[41]

In July 2024, Pixelberry Studios was acquired to Series Entertainment, for an undisclosed amount.[42]

Lawsuits

[edit]

In 2018, the company was fined 939 million (about US$717,000) for giving players false probability information surrounding microtransactions gambling for loot boxes in Sudden Attack.[43] Nexon Korea stated that the phrase "random provision" was to suggest that the odds of obtaining each item were different, not that all of them have equal odds.[44]

In early 2023, Nexon filed a cease and desist letter and a lawsuit against video game studio Ironmace, alleging that they stole files and ideas from Nexon's canceled project called "P3" and used them in their game called Dark and Darker.[45][46] Nine "P3" project members had left the company and joined Ironmace, which was started soon after the project's cancellation in 2021.[47][48] According to Ironmace, it is one of these former Nexon employees (who is alleged to have leaked the assets) who is the sued party, and not the company itself.[46] A police complaint filed by Nexon reportedly led to a police raid of Ironmace's offices in March 2023.[48] After the game was removed from Steam, Ironmace distributed it via BitTorrent, made available on the game's Discord server. Nexon also filed a copyright infringement lawsuit in the United States on April 20, 2023.[49] This lawsuit was dismissed on August 17, 2023.[50] The game is subsequently once again available on Steam.[51]

In 2021, a MapleStory user, Kim, sued Nexon for its failure to provide detailed probability information. The Korea Fair Trade Commission reported that Nexon, for a decade, has lowered the probability of players drawing certain character equipment when spending real cash on Cubes ("and setting the probability of winning some Cubes to zero") in MapleStory.[52][43] The Supreme Court ended up ruling in favor of Kim; they ordered Nexon to give back five percent of the spent money to Kim.[53] Nexon then accepted the Korea Consumer Agency's recommendation to compensate the damaged 800,000 users; the amount of compensated in-game cash equaled to about ₩21.9 billion (US$19.1 million).[52] In 2024, the company was fined by the Korea Fair Trade Commission for a record-breaking ₩11.6 billion (US$8.9 million) fee for misleading players over microtransactions in MapleStory, which violated South Korea's Act on Consumer Protection in Electronic Commerce.[54]

Organization

[edit]

Nexon maintains various offices around the world that engage in the publishing and/or development of Nexon's games. Each region's local consolidated subsidiaries are independently managed and are responsible for developing their own strategy for their products and services.[55]

Major Nexon group companies[56]
RegionCompany name
JapanNexon Co., Ltd.; gloops, Inc.
KoreaNexon Korea Corporation; Neople Inc.; Nexon Games Co., Ltd.; JoongAng Pangyo Development Co., Ltd.; Mirae Asset Global Innovation Growth Focus Equity Privately Placed Investment Trust; VIP Global Super Growth Hedge Fund
ChinaLexian Software Development (Shanghai) Co., Ltd.
North AmericaNexon America Inc.; Big Huge Games, Inc.
OtherNexon Europe GmbH; gloops Vietnam Co., Ltd.; Nexon Taiwan Ltd.; Nexon Thailand Co., Ltd.

Studios

[edit]
Studios[57]LocationFounded/acquired[58]Notes
Nexon KoreaSeoul, KoreaDecember 1994
Nitro Studios2020previously Nexon Korea Internal Teams
devCat2020
Mintrocket[41]2024
Nexon GamesNexon Games SeoulJuly 2010previously known as NAT Games
MX StudioWas under NAT Games during their buyout and rebrand,

develops Blue Archive and other Japanese-inspired "subculture" games

RX Studio2024
IO Division2024Acts as an umbrella company to help other Nexon games that target "subculture", as well as direct management support for both MX Studio and RX Studio's live service bishoujo games.[59]
Nexon Games PangyoPangyo-dong, Seongnam, Gyeonggi Province, KoreaJune 2018previously Nexon GT
NeopleJeju City, KoreaAugust 2008
Embark StudiosStockholm, SwedenJuly 2019
Big Huge GamesTimonium, Maryland, United StatesMarch 2016

Free-to-play online virtual worlds

[edit]

As of August 2022, Nexon Virtual Worlds' most valuable entertainment franchises are:[38]

FranchiseLaunch dateRegistered playersLifetime revenue
Dungeon & Fighter2005+ 850 million> $20 billion
MapleStory2003+ 180 million> $3 billion
KartRider2004+ 380 million > $1 billion
Sudden Attack2005+ 23 million> $0.7 billion
Nexus: The Kingdom of the Winds1996+ 26 millionN/A
Mabinogi2004+ 20 million> $0.6 billion

Games for mobile and consoles

[edit]

Nexon began as a developer and publisher of PC games. However, in 2020, the company announced plans to begin releasing both console and mobile versions of key franchises.

In 2017, Nexon previously published LawBreakers for PlayStation 4 from Boss Key Productions. In July 2020, the South Korean launch of The Kingdom of the Winds: Yeon for mobile was the top-grossing title on the Apple App Store and #2 on Google Play, 24 years after the launch of the initial The Kingdom of the Winds game in 1996. In August 2020, the release of Dungeon & Fighter Mobile in China generated more than 60 million pre-registrations before it was delayed.[60]

Nexon operates in over 190 countries, but revenue and consumer engagement are concentrated in Asian markets. In 2021, the company announced a series of games in development for global release – with a focus on Europe and North America.[61] Mahoney stated that they hoped to launch big titles with a 'Western sensibility', such as the game ARC Raiders from Embark Studios. In March 2022, Dungeon & Fighter Mobile was released in South Korea, and later in China in May 2022.[62] It has announced that it will be publishing ARC Raiders, The First Descendant, Project AK, and KartRider: Drift for both PlayStation 4 and Xbox in around 2025.[63][64]

Games

[edit]
YearTitleDeveloperPublisherNotes
1996Nexus: The Kingdom of the WindsNexon KoreaNexon
1999Elancia
Dark Ages
2001Asgard
Crazy Arcade
2003MapleStoryWizetNexon (KR, JP, NA, EU)
Asiasoft/Playpark (SEA)
Gamania (Taiwan, Hong Kong and Macau)
Shengqu Games (China)
EU and NA services were merged in 2016 to operate under Nexon America.
Known in China as "Adventure Island Online"
TalesWeaverSoftmaxNexon
2004Crazyracing KartriderNexon KoreaAlso known in short as KartRider
Servers closed in March 2023 as Nexon Korea has shifted their focus to KartRider: Drift
MabinogidevCAT
2005Sudden AttackNexon GT (now Nexon Games)
Dungeon Fighter OnlineNeopleNexon (KR and JP)

Neople (Global)

2007ElswordKOG StudiosNexonPublishing for Korea only (KOG to handle the Global server)
2008Counter-Strike OnlineNexon
Valve
Combat ArmsNexonServer closed in November 2017; while the Global server was carried by VALOFE in both Reloaded and Classic version
2009Crazy Shooting Bubble Fighter
2010VindictusdevCATAlso known in Asia as Mabinogi Heroes; prequel to Mabinogi, the original game
Dragon NestEyedentity GamesNexon to share the publishing rights in Korea (ENP Games handles the KR server, while Eyedentity Games handles the rest of Global, ex. Chinese territories)
2011CyphersNeople
2012FIFA Online 3Electronic ArtsPublishing for Korea only
2013ArcheAgeXL GamesNexon to share the publishing rights in Korea (XL Games was later brought by Kakao Games)
Final Fantasy XIVSquare Enix Business Division 5Square EnixNexon to share the publishing rights in Korea (Actoz Soft now handles the KR server)
Counter-Strike Online 2Nexon
Valve
NexonServers closed in April 2018
2014FreeStyle 2JOYCITYPublishing for Korea only
ClosersNaddic GamesPublishing for Korea only (Naddic Games to handle the Global server)
Monster SquadNexon GT
Timecast
Mobile game
Servers closed in December 2016
2015DomiNationsNexon
Big Huge Games
Mobile game
Publishing rights was handed over to Big Huge Games in 2020
MapleStory 2NSquareBoth the Japanese and Global servers closed in early 2020, with Korea as the only server available
2016Tree of SaviorIMC GamesPublishing for Korea only (IMC Games to handle the Global server)
Sudden Attack 2Nexon GTKorean server closed shortly after launch following the controversy
Titanfall OnlineNexon (licensed from Electronic Arts)The game was never fully released
Ghost in the Shell: Stand Alone Complex – First Assault OnlineNeopleServer closed first in Japan on November 29, 2017; with the Global server closing a few days later (December 6, 2017)
2017Dynasty Warriors: UnleashedXPEC Entertainment (licensed from Koei Tecmo)Mobile game
Server closed in March 2020
Dark Avenger 3Boolean GamesMobile game
LawBreakersBoss Key ProductionsReleased as the debut title from Cliff Bleszinski's new studio. Servers closed in late 2018 with Nexon currently retaining the IP rights.
AxE (Alliance vs Empire)Nexon REDMobile game

Server closed in June 2022

2018Darkness RisesNexonMobile game launched in June 2018;[65] server closed on November 30, 2022
Durango: Wild LandsNexon
What! Studio
Mobile game
Server closed on October 16, 2019
FIFA Online 4EA SpearheadPublishing for Korea only
MapleStory MNexon
2019KurtzPelKOG StudiosPublishing for Korea only (KOG to handle the Global server)
Godzilla Defense ForceNeople
Studio 42
Mobile game
Crazy Arcade BnB MNexon
2020KartRider Rush+Mobile game
V4NAT Games (now Nexon Games)Cross-platform (PC and Mobile)
Server closed on March 20, 2024
The Kingdom of the Winds: YeonNexon KoreaMobile game
Currently available in Korea
FIFA MobileEA MobileNexon (JP and KR)Mobile game
2021Blue ArchiveIO Division; MX Studio

(under NAT Games, rebranded to Nexon Games)

Nexon (Global, ex. JP and CN)

Yostar (CN & JP only)

Real Time Strategy mobile game

PC client launched Summer 2025

MX Studio was not placed under IO Division until the brand was formed in 2024

KonoSuba: Fantastic DaysSumzapNexon (Global, ex. JP)Mobile game
Publishing rights was handed over to Sesisoft from June 1, 2023.[66]
2022Dungeon & Fighter MobileNeopleNexonMobile game
Currently available in Korea
DNF DuelArc System Works
Eighting
Neople
Also available on PlayStation 4 and PlayStation 5
Nominated for The Game Awards 2022 Best Fighting Game
Argent Twilight: Secrets Of The Dark Orbs[67]Mobile game
Currently available in Malaysia, Singapore, Hong Kong and Canada
TalesWeaver: Second Run[68]Mobile game
Currently available in Japan
MapleStory WorldsNexon KoreaCross-platform (PC and Mobile)
Only available in Korea
2023KartRider: DriftNitro StudiosCross-platform (PlayStation 4, Xbox One, PC, and Mobile)
Dave the DiverMintrocketMintrocketFor PC and MacOS; also available on Nintendo Switch/Nintendo Switch 2, PlayStation 4/PlayStation 5 and Xbox One/Xbox Series X/S
Warhaven[69]Nexon KoreaNexonServer closing in April 2024[70]
EA Sports FC MobileEA MobileNexon (JP and KR)Mobile game; FIFA Mobile successor
EA Sports FC OnlineEA SpearheadNexonPublishing for Korea only; FIFA Online 4 successor.
The FinalsEmbark StudiosEmbark StudiosCross-platform (PlayStation 4,PlayStation 5, Xbox Series X|S, and PC)
Dynasty Warriors MNeobards Entertainment (licensed from Koei Tecmo)NexonMobile game
2024The First DescendantNexon GamesNexonCross-platform (PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, and PC)
2025The First Berserker: KhazanNeopleNexonMulti-platform Single-Player ARPG (PlayStation 5, Xbox Series X, and PC)
ARC RaidersEmbark StudiosEmbark StudiosCross-platform (PlayStation 5, Xbox Series X|S, and PC)
TBANakwon: Last ParadiseMintrocketMintrocket
Wakerunners
Mabinogi MobiledevCATNexon
OVERKILLNeople
MapleStory NNexon KoreaPC version of MapleStory that uses blockchain technology
Vindictus: Defying Fate
Project DXNexon KRBased on Durango: Wild Lands
Project RXIO Division; RX Studio (MX Studio sister branch)Nexon (expected)"Subculture" game in the same style as Blue Archive, but in a different creative universe
Azur PromiliaShanghai ManjuuNexon KRChinese open world gacha RPG game being published by Nexon for the Korean region in place of the developer themselves. Feeds into "subculture" otaku appeal. Expected to be self published in other non-Asian regions without Nexon involvement.

See also

[edit]

References

[edit]
  1. ^ "Locations". NEXON Corporate Profile. Retrieved November 24, 2021.
  2. ^ "Announcement regarding Succession of Representative Director and CEO" (PDF). Nexon. November 9, 2023. Archived from the original (PDF) on July 30, 2025.
  3. ^ Chris Shimamoto (May 15, 2014). "Nexon Surges as Online Game Maker Plans Share Buyback". Bloomberg News.
  4. ^ "Executive Team". NEXON Corporate Profile. Retrieved November 24, 2021.
  5. ^ a b c "Consolidated Financial Results for the Fiscal Year Ended December 31, 2021 [IFRS]" (PDF). Retrieved September 6, 2022.
  6. ^ "Q2 2022 Investor Presentation" (PDF). Retrieved September 6, 2022.
  7. ^ Einhorn, Bruce (August 21, 2014). "Nexon, Asia's 'Freemium' PC Game Pioneer, Gets More Mobile". Bloomberg Businessweek. Archived from the original on August 22, 2014.
  8. ^ "Introduction". NXC Corporation.
  9. ^ Einhorn, Bruce. "What is Nexus?". Nexus Atlas. Retrieved December 21, 2014.
  10. ^ "Nexon Holdings history". KoreanGameWatch.com. Archived from the original on April 25, 2012. Retrieved October 5, 2011.
  11. ^ "Kru Interactive Profile". Kru Interactive. Archived from the original on March 3, 2012. Retrieved June 28, 2011.
  12. ^ "About Us". Wizet.com. Archived from the original on June 7, 2002. Retrieved April 12, 2025.
  13. ^ "MapleStory Interview". 4Gamer.net (in Japanese). Retrieved April 12, 2025.
  14. ^ "History". Wizet.com (in Japanese). Archived from the original on November 2, 2004. Retrieved April 12, 2025.
  15. ^ "Nexon acquires U.S. game developer Big Huge Game". The Dong-A Ilbo. Retrieved April 10, 2025.
  16. ^ "Popular Games In Service". Nexon Investor Relations. Retrieved April 12, 2025.
  17. ^ Forbes Staff (April 24, 2013). "What Next for Kim Jung-Ju and Korean Online Gaming Company Nexon?". Forbes.
  18. ^ a b Lulu Yilun Chen and Jungah Lee (May 28, 2014). "Tencent $1 Billion Game Shows Global Hunt for Mobile Hits". Bloomberg News.
  19. ^ Xu Lin (February 7, 2014). "Top 10 free online games with highest revenues". China.org.cn.
  20. ^ Kyt Dotson (December 7, 2014). "Despite Setbacks Nexon Sets $1.2 billion IPO for Dec. 14". SiliconANGLE.
  21. ^ "Nexon America Inc et al v. Gameanarchy LLC et al".
  22. ^ "Nexon acquires DomiNations developer Big Huge Games". VentureBeat. March 10, 2016. Archived from the original on February 23, 2018. Retrieved March 11, 2016.
  23. ^ Jung, Se-jin (September 5, 2018). "Nexon sets up the first labor union among Korean game companies". The Korea IT Times (in Korean). Retrieved February 26, 2023.
  24. ^ "Nexon founder to sell controlling stake in gaming company's holding..." Reuters. January 3, 2019.
  25. ^ "Nexon founder scraps what could have been $16 billion gaming deal:..." Reuters. July 9, 2019.
  26. ^ "Nexon founder sells BrickLink to LEGO in streamlining move after botched gaming deal - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved May 20, 2023.
  27. ^ "The Lego Group acquires bricklink, the world's largest online LEGO fan community and marketplace to strengthen ties with adult fans". November 25, 2019. Retrieved November 25, 2019.
  28. ^ McAloon, Alissa (August 5, 2019). "Nexon to acquire Swedish game developer Embark Studios". Game Developer. Retrieved November 22, 2025.
  29. ^ Leung, Ruby (June 2, 2020). "Korean Gaming Giant Nexon To Spend $1.5 Billion On Global Entertainment Companies". Forbes. Retrieved June 6, 2020.
  30. ^ "Nexon invests $874 million in Hasbro, Bandai Namco, Konami, and Sega Sammy". VentureBeat. March 28, 2021. Retrieved March 29, 2021.
  31. ^ Royce, Bree (August 13, 2021). "Nexon CEO blasts crunch and the 'charade of launch timing'". Massively Overpowered. Retrieved February 26, 2023.
  32. ^ "Nexon offers all its employees a big pay rise". Korea JoongAng Daily. February 1, 2021. Retrieved September 30, 2022.
  33. ^ Hayes, Dade (July 15, 2021). "Asian Video Game Firm Nexon Launching LA-Based Film And TV Arm Guided By Disney And Activision Blizzard Vet Nick Van Dyk". Deadline.
  34. ^ Vlessing, Etan (January 5, 2022). "Joe and Anthony Russo's AGBO Sells $400M Stake to Nexon". The Hollywood Reporter. Retrieved January 5, 2022.
  35. ^ "Saudi Wealth Fund Boosts Gaming Bets With Capcom, Nexon Stakes". Bloomberg.com. February 3, 2022. Retrieved May 26, 2023.
  36. ^ "Nexon launches game sub-brand 'Mintrocket' on the 3rd". indiegame.com. April 5, 2022. Retrieved July 15, 2023.
  37. ^ Koselke, Anna (July 12, 2023). "Dave the Diver does swimmingly on Steam, selling over a million copies". PCGamesN.
  38. ^ a b "Nexon FY22 Q2 earnings presentation" (PDF). Nexon IR website. Retrieved September 20, 2022.
  39. ^ Seal, Dean. "Nexon Taps Korea Unit's Chief to Succeed Departing CEO". The Wall Street Journal. Retrieved February 28, 2024.
  40. ^ "Nexon announces development of long-awaited sequel, The Kingdom of the Winds 2". Korea JoongAng. 2024.
  41. ^ a b Blake, Vikki (September 11, 2024). "Nexon establishes Dave the Diver developer Mintrocket as a new wholly owned subsidiary corporation". GamesIndustry.biz. Retrieved September 11, 2024.
  42. ^ "Mobile dev Pixelberry acquired by Series Entertainment".
  43. ^ a b Park, Han-Shin (January 3, 2024). Kim, Yeonhee (ed.). "Nexon fined over MapleStory in-game item selling". The Korea Economic Daily. Retrieved December 22, 2024.
  44. ^ Prescott, Shaun (April 10, 2018). "Nexon has been fined by the Korean Fair Trade Commission over loot boxes". PC Gamer. Retrieved December 22, 2024.
  45. ^ "Dark and Darker removed from Steam due to ongoing Ironmace/Nexon dispute". Games Industry.biz. March 27, 2023. Retrieved March 27, 2023.
  46. ^ a b Brown, Andy (March 14, 2023). "'Dark And Darker' developer's office searched by police over allegations of code theft". NME. Retrieved April 15, 2023.
  47. ^ Kennedy, Victoria (March 27, 2023). "Dark and Darker developer uses ChatGPT AI tool in bid to prove it hasn't infringed copyright". Eurogamer.net. Retrieved April 15, 2023.
  48. ^ a b Andy Chalk published (March 8, 2023). "Dark and Darker studio raided by police following 'stolen' code allegations". PC Gamer. Retrieved April 15, 2023.
  49. ^ "Dark and Darker developer sued by Nexon for "copyright infringement"". Eurogamer.net. April 17, 2023. Retrieved April 29, 2023.
  50. ^ "Judgment by Court – #58 in Nexon Korea Corporation v. Ironmace Co Ltd (W.D. Wash., 2:23-cv-00576) – CourtListener.com". CourtListener. Retrieved July 5, 2024.
  51. ^ Tyler Wilde (June 7, 2024). "Dark and Darker is back on Steam". PC Gamer. Retrieved July 5, 2024.
  52. ^ a b Lee, Jae-eun; Hwang, Gyurak (November 29, 2024). "Nexon to refund MapleStory player for withholding information on probabilistic items". The Chosun Daily. Retrieved December 22, 2024.
  53. ^ Hyeong-woo, Kan (November 29, 2024). "Nexon partly loses MapleStory loot box lawsuit". The Korea Herald. Retrieved December 22, 2024.
  54. ^ Cryer, Hirun (January 4, 2024). "MMO dev fined record-breaking $9 million fee for misleading players over microtransactions". Games Radar.
  55. ^ "Consolidated Financial Results for the Fiscal Year Ended December 31, 2017" (PDF). NEXON Investor Relations. p. 7. Retrieved July 17, 2018.
  56. ^ "Consolidated Financial Results for the Fiscal Year Ended December 31, 2022 [IFRS]" (PDF). NEXON Investor Relations. Retrieved February 1, 2024.
  57. ^ "Locations". NEXON Corporate Profile (in Japanese). Retrieved February 2, 2024.
  58. ^ "History". Nexon Corporate Profile. Archived from the original on October 18, 2018. Retrieved February 2, 2024.
  59. ^ "NEXON GAMES Launches the IO Division for Subculture Game Development". December 27, 2024. Retrieved November 22, 2025.
  60. ^ Lee, Seung-Woo (April 4, 2022). "Nexon's new game beats Lineage to top app stores list". The Korea Economic Daily. Retrieved December 22, 2024.
  61. ^ Nussey, Sam; Chmielewski, Dawn (June 13, 2022). "Japan game giant Nexon plots western expansion". Euronews. Retrieved February 26, 2023.
  62. ^ Kim, Eun-jin (December 19, 2024). "Nexon's Dungeon Fighter Online Mobile Hits $1.06 Billion in China, Leading Global Game Exports". Businesskorea (in Korean). Retrieved December 22, 2024.
  63. ^ Huxley, Ben; Saunders, Toby (December 19, 2024). "Video game release dates 2024". Radio Times. Retrieved December 22, 2024.
  64. ^ Romano, Sal (November 12, 2024). "ARC Raiders 'Gameplay Reveal' trailer". Gematsu. Retrieved December 22, 2024.
  65. ^ "Darkness Rises - Nexon launches new mobile action RPG worldwide". MMO Culture. June 20, 2018. Retrieved April 13, 2024.
  66. ^ Schpasm (April 18, 2023). "KonoSuba Fantastic Days Global Server is Changing Publishers". QooApp. Retrieved April 18, 2023.
  67. ^ Howard, Jessica (September 8, 2022). "MapleStory Publisher Offers A Closer Look At Turn-Based Hero Game Argent Twilight". GameSpot. Retrieved September 15, 2022.
  68. ^ Derrick, Connor (September 14, 2022). "Tales Weaver: Second Run, a reimagining of the 18 year old MMO, opens up pre-registration for Japanese audiences". Pocket Gamer. Retrieved September 15, 2022.
  69. ^ Cinderboy (September 14, 2022). "Warhaven – Nexon reveals Global Beta Test schedule for new medieval fantasy 16 vs 16 title". MMO Culture. Retrieved September 15, 2022.
  70. ^ Andy Chalk (January 25, 2024). "Just four months after launching into early access, Nexon's 'full contact sword action' game Warhaven is shutting down". PC Gamer. Retrieved March 12, 2024.
[edit]

    Nexon Co., Ltd.
    Native name
    Company typePublic
    TYO: 3659
    IndustryVideo games
    FoundedDecember 26, 1994; 31 years ago (1994-12-26)
    Seoul, South Korea
    Founders
    HeadquartersMinato-ku, Tokyo, Japan[1]
    Key people
    Revenue¥274.5 billion (2021)[5]
    ¥91.5 billion (2021)[5]
    ¥114.9 billion (2021)[5]
    OwnerNXC (60.2%)
    Number of employees
    7,067 (Dec. 2021)[6]
    ParentNXC
    Subsidiaries§ Organization
    Websitenexon.com

    Nexon Co., Ltd. (formerly Korean주식회사 넥슨) is a South Korea-Japanese video game developer and publisher specializing in live service games. It develops and publishes titles including MapleStory, Crazyracing Kartrider, Sudden Attack, Dungeon & Fighter, The First Descendant, and Blue Archive. Headquartered in Japan, the company has offices in South Korea, the United States, Taiwan, and Thailand.[7]

    Nexon was founded in Seoul, South Korea, in 1994 by Kim Jung-ju. In 2005, the company moved its headquarters to Tokyo, Japan. However, its largest shareholder is an investment and holding company NXC, headquartered in Jeju Province, South Korea.[8]

    History

    First logo (1994–2009)

    Nexon was established in Seoul, South Korea, on December 26, 1994. It developed and published its first title, Nexus: The Kingdom of the Winds, in 1996, which the company continues to service.[9] Numerous other games followed, such as Dark Ages: Online Roleplaying, Elemental Saga, QuizQuiz, KartRider, Elancia, and Shattered Galaxy;[10] some of which are maintained by a company spun off of Nexon, Kru Interactive.[11]

    Acquisition of Wizet

    Wizet's logo

    In April 2001, Wizet, a game development company, was established in Seoul, South Korea.[12] The company was initially led by Seung-chan Lee, who was previously a lead developer for Nexon's QuizQuiz.[13] Wizet would develop and eventually release MapleStory for Korea in April 2003. Shortly after its release, the game reached a milestone of 100,000 concurrent users and 2 million registered users, according to the company's now-defunct website.[14] Wizet would launch MapleStory in Japan later that year with similar claims of success. In 2004, Nexon acquired Wizet[15] and since then has maintained active development and publishing of MapleStory.[16]

    Acquisition of Neople

    Nexon is also the developer of Dungeon & Fighter, through its wholly owned subsidiary, Neople.[17][18] Dungeon & Fighter is one of the most popular free-to-play online PC games in China.[18][19]

    2010s

    Nexon went public on the Tokyo Stock Exchange on December 14, 2011, in an initial public offering, the largest in Japan for 2011 and the second largest by a technological company for 2011 worldwide.[20] In April 2013, the programmer "DrUnKeN ChEeTaH" was sued by Nexon America for operating GameAnarchy, a popular subscription-based cheat provider for Combat Arms. Nexon was awarded $1.4 million in damages.[21]

    On March 9, 2016, Nexon acquired Big Huge Games, a mobile game developer in Maryland.[22] In October 2018, a labor union was established at Nexon.[23] On January 3, 2019, The Korea Economic Daily reported that Nexon founder Kim Jung-ju and associates had put their 98.64 percent stake up for sale.[24] However, on July 8, 2019, Reuters reported that the plan was abandoned.[25] On November 25, 2019, The Lego Group announced the acquisition of Bricklink, a Lego fan community from Nexon's parent company NXC,[26] for an unknown price, which is expected to finish before the end of 2019.[27]

    In 2019, the company announced plans to acquire Embark Studios, a studio founded by Patrick Söderlund, the former Chief Design Officer of Electronic Arts.[28]

    2020s

    On June 2, 2020, Nexon announced plans to invest $1.5 billion in listed entertainment companies.[29] By March 2021, Nexon had deployed $874 million of that amount on investments into Hasbro, Bandai Namco Holdings, Konami, and Sega Sammy Holdings. Nexon stated that they had no interest in outright acquiring or taking activist investor positions in these companies.[30]

    In a 2021 earnings call, Nexon CEO Owen Mahoney declined to offer hard launch targets for highly anticipated games.[31] In February 2021, Nexon announced significant pay increases for new and existing development talent in the company's Korean studios.[32] In July 2021, Nexon announced the formation of Nexon Film and Television. The division is based in Los Angeles.[33] In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake.[34] In February 2022, it was reported by Bloomberg that Saudi Arabian-based Public Investment Fund had purchased just over a 5% stake in Capcom and Nexon, reportedly worth US$883 million, while American investment company KKR acquired an 8.5% stake.[35]

    In May 2022, Nexon announced the launch of Mintrocket, a sub-brand and division of Nexon that specializes on games "focusing on the essence of fun".[36] Its first game, Dave the Diver, was a commercial hit, selling one million copies within ten days of launch.[37] According to their own report, the Korean region earned the company the most in Q1–Q2 2022.[38] In late 2023, Nexon announced that CEO Owen Mahoney will be succeeded by Nexon Korea CEO Junghun Lee in 2024.[39] Nexon announced the development of The Kingdom of the Winds 2 on October 30, 2024, the sequel to its first-ever release 28 years ago.[40] Nexon made Mintrocket a wholly owned subsidiary in September 2024.[41]

    In July 2024, Pixelberry Studios was acquired to Series Entertainment, for an undisclosed amount.[42]

    Lawsuits

    In 2018, the company was fined 939 million (about US$717,000) for giving players false probability information surrounding microtransactions gambling for loot boxes in Sudden Attack.[43] Nexon Korea stated that the phrase "random provision" was to suggest that the odds of obtaining each item were different, not that all of them have equal odds.[44]

    In early 2023, Nexon filed a cease and desist letter and a lawsuit against video game studio Ironmace, alleging that they stole files and ideas from Nexon's canceled project called "P3" and used them in their game called Dark and Darker.[45][46] Nine "P3" project members had left the company and joined Ironmace, which was started soon after the project's cancellation in 2021.[47][48] According to Ironmace, it is one of these former Nexon employees (who is alleged to have leaked the assets) who is the sued party, and not the company itself.[46] A police complaint filed by Nexon reportedly led to a police raid of Ironmace's offices in March 2023.[48] After the game was removed from Steam, Ironmace distributed it via BitTorrent, made available on the game's Discord server. Nexon also filed a copyright infringement lawsuit in the United States on April 20, 2023.[49] This lawsuit was dismissed on August 17, 2023.[50] The game is subsequently once again available on Steam.[51]

    In 2021, a MapleStory user, Kim, sued Nexon for its failure to provide detailed probability information. The Korea Fair Trade Commission reported that Nexon, for a decade, has lowered the probability of players drawing certain character equipment when spending real cash on Cubes ("and setting the probability of winning some Cubes to zero") in MapleStory.[52][43] The Supreme Court ended up ruling in favor of Kim; they ordered Nexon to give back five percent of the spent money to Kim.[53] Nexon then accepted the Korea Consumer Agency's recommendation to compensate the damaged 800,000 users; the amount of compensated in-game cash equaled to about ₩21.9 billion (US$19.1 million).[52] In 2024, the company was fined by the Korea Fair Trade Commission for a record-breaking ₩11.6 billion (US$8.9 million) fee for misleading players over microtransactions in MapleStory, which violated South Korea's Act on Consumer Protection in Electronic Commerce.[54]

    Organization

    Nexon maintains various offices around the world that engage in the publishing and/or development of Nexon's games. Each region's local consolidated subsidiaries are independently managed and are responsible for developing their own strategy for their products and services.[55]

    Major Nexon group companies[56]
    RegionCompany name
    JapanNexon Co., Ltd.; gloops, Inc.
    KoreaNexon Korea Corporation; Neople Inc.; Nexon Games Co., Ltd.; JoongAng Pangyo Development Co., Ltd.; Mirae Asset Global Innovation Growth Focus Equity Privately Placed Investment Trust; VIP Global Super Growth Hedge Fund
    ChinaLexian Software Development (Shanghai) Co., Ltd.
    North AmericaNexon America Inc.; Big Huge Games, Inc.
    OtherNexon Europe GmbH; gloops Vietnam Co., Ltd.; Nexon Taiwan Ltd.; Nexon Thailand Co., Ltd.

    Studios

    Studios[57]LocationFounded/acquired[58]Notes
    Nexon KoreaSeoul, KoreaDecember 1994
    Nitro Studios2020previously Nexon Korea Internal Teams
    devCat2020
    Mintrocket[41]2024
    Nexon GamesNexon Games SeoulJuly 2010previously known as NAT Games
    MX StudioWas under NAT Games during their buyout and rebrand,

    develops Blue Archive and other Japanese-inspired "subculture" games

    RX Studio2024
    IO Division2024Acts as an umbrella company to help other Nexon games that target "subculture", as well as direct management support for both MX Studio and RX Studio's live service bishoujo games.[59]
    Nexon Games PangyoPangyo-dong, Seongnam, Gyeonggi Province, KoreaJune 2018previously Nexon GT
    NeopleJeju City, KoreaAugust 2008
    Embark StudiosStockholm, SwedenJuly 2019
    Big Huge GamesTimonium, Maryland, United StatesMarch 2016

    Free-to-play online virtual worlds

    As of August 2022, Nexon Virtual Worlds' most valuable entertainment franchises are:[38]

    FranchiseLaunch dateRegistered playersLifetime revenue
    Dungeon & Fighter2005+ 850 million> $20 billion
    MapleStory2003+ 180 million> $3 billion
    KartRider2004+ 380 million > $1 billion
    Sudden Attack2005+ 23 million> $0.7 billion
    Nexus: The Kingdom of the Winds1996+ 26 millionN/A
    Mabinogi2004+ 20 million> $0.6 billion

    Games for mobile and consoles

    Nexon began as a developer and publisher of PC games. However, in 2020, the company announced plans to begin releasing both console and mobile versions of key franchises.

    In 2017, Nexon previously published LawBreakers for PlayStation 4 from Boss Key Productions. In July 2020, the South Korean launch of The Kingdom of the Winds: Yeon for mobile was the top-grossing title on the Apple App Store and #2 on Google Play, 24 years after the launch of the initial The Kingdom of the Winds game in 1996. In August 2020, the release of Dungeon & Fighter Mobile in China generated more than 60 million pre-registrations before it was delayed.[60]

    Nexon operates in over 190 countries, but revenue and consumer engagement are concentrated in Asian markets. In 2021, the company announced a series of games in development for global release – with a focus on Europe and North America.[61] Mahoney stated that they hoped to launch big titles with a 'Western sensibility', such as the game ARC Raiders from Embark Studios. In March 2022, Dungeon & Fighter Mobile was released in South Korea, and later in China in May 2022.[62] It has announced that it will be publishing ARC Raiders, The First Descendant, Project AK, and KartRider: Drift for both PlayStation 4 and Xbox in around 2025.[63][64]

    Games

    YearTitleDeveloperPublisherNotes
    1996Nexus: The Kingdom of the WindsNexon KoreaNexon
    1999Elancia
    Dark Ages
    2001Asgard
    Crazy Arcade
    2003MapleStoryWizetNexon (KR, JP, NA, EU)
    Asiasoft/Playpark (SEA)
    Gamania (Taiwan, Hong Kong and Macau)
    Shengqu Games (China)
    EU and NA services were merged in 2016 to operate under Nexon America.
    Known in China as "Adventure Island Online"
    TalesWeaverSoftmaxNexon
    2004Crazyracing KartriderNexon KoreaAlso known in short as KartRider
    Servers closed in March 2023 as Nexon Korea has shifted their focus to KartRider: Drift
    MabinogidevCAT
    2005Sudden AttackNexon GT (now Nexon Games)
    Dungeon Fighter OnlineNeopleNexon (KR and JP)

    Neople (Global)

    2007ElswordKOG StudiosNexonPublishing for Korea only (KOG to handle the Global server)
    2008Counter-Strike OnlineNexon
    Valve
    Combat ArmsNexonServer closed in November 2017; while the Global server was carried by VALOFE in both Reloaded and Classic version
    2009Crazy Shooting Bubble Fighter
    2010VindictusdevCATAlso known in Asia as Mabinogi Heroes; prequel to Mabinogi, the original game
    Dragon NestEyedentity GamesNexon to share the publishing rights in Korea (ENP Games handles the KR server, while Eyedentity Games handles the rest of Global, ex. Chinese territories)
    2011CyphersNeople
    2012FIFA Online 3Electronic ArtsPublishing for Korea only
    2013ArcheAgeXL GamesNexon to share the publishing rights in Korea (XL Games was later brought by Kakao Games)
    Final Fantasy XIVSquare Enix Business Division 5Square EnixNexon to share the publishing rights in Korea (Actoz Soft now handles the KR server)
    Counter-Strike Online 2Nexon
    Valve
    NexonServers closed in April 2018
    2014FreeStyle 2JOYCITYPublishing for Korea only
    ClosersNaddic GamesPublishing for Korea only (Naddic Games to handle the Global server)
    Monster SquadNexon GT
    Timecast
    Mobile game
    Servers closed in December 2016
    2015DomiNationsNexon
    Big Huge Games
    Mobile game
    Publishing rights was handed over to Big Huge Games in 2020
    MapleStory 2NSquareBoth the Japanese and Global servers closed in early 2020, with Korea as the only server available
    2016Tree of SaviorIMC GamesPublishing for Korea only (IMC Games to handle the Global server)
    Sudden Attack 2Nexon GTKorean server closed shortly after launch following the controversy
    Titanfall OnlineNexon (licensed from Electronic Arts)The game was never fully released
    Ghost in the Shell: Stand Alone Complex – First Assault OnlineNeopleServer closed first in Japan on November 29, 2017; with the Global server closing a few days later (December 6, 2017)
    2017Dynasty Warriors: UnleashedXPEC Entertainment (licensed from Koei Tecmo)Mobile game
    Server closed in March 2020
    Dark Avenger 3Boolean GamesMobile game
    LawBreakersBoss Key ProductionsReleased as the debut title from Cliff Bleszinski's new studio. Servers closed in late 2018 with Nexon currently retaining the IP rights.
    AxE (Alliance vs Empire)Nexon REDMobile game

    Server closed in June 2022

    2018Darkness RisesNexonMobile game launched in June 2018;[65] server closed on November 30, 2022
    Durango: Wild LandsNexon
    What! Studio
    Mobile game
    Server closed on October 16, 2019
    FIFA Online 4EA SpearheadPublishing for Korea only
    MapleStory MNexon
    2019KurtzPelKOG StudiosPublishing for Korea only (KOG to handle the Global server)
    Godzilla Defense ForceNeople
    Studio 42
    Mobile game
    Crazy Arcade BnB MNexon
    2020KartRider Rush+Mobile game
    V4NAT Games (now Nexon Games)Cross-platform (PC and Mobile)
    Server closed on March 20, 2024
    The Kingdom of the Winds: YeonNexon KoreaMobile game
    Currently available in Korea
    FIFA MobileEA MobileNexon (JP and KR)Mobile game
    2021Blue ArchiveIO Division; MX Studio

    (under NAT Games, rebranded to Nexon Games)

    Nexon (Global, ex. JP and CN)

    Yostar (CN & JP only)

    Real Time Strategy mobile game

    PC client launched Summer 2025

    MX Studio was not placed under IO Division until the brand was formed in 2024

    KonoSuba: Fantastic DaysSumzapNexon (Global, ex. JP)Mobile game
    Publishing rights was handed over to Sesisoft from June 1, 2023.[66]
    2022Dungeon & Fighter MobileNeopleNexonMobile game
    Currently available in Korea
    DNF DuelArc System Works
    Eighting
    Neople
    Also available on PlayStation 4 and PlayStation 5
    Nominated for The Game Awards 2022 Best Fighting Game
    Argent Twilight: Secrets Of The Dark Orbs[67]Mobile game
    Currently available in Malaysia, Singapore, Hong Kong and Canada
    TalesWeaver: Second Run[68]Mobile game
    Currently available in Japan
    MapleStory WorldsNexon KoreaCross-platform (PC and Mobile)
    Only available in Korea
    2023KartRider: DriftNitro StudiosCross-platform (PlayStation 4, Xbox One, PC, and Mobile)
    Dave the DiverMintrocketMintrocketFor PC and MacOS; also available on Nintendo Switch/Nintendo Switch 2, PlayStation 4/PlayStation 5 and Xbox One/Xbox Series X/S
    Warhaven[69]Nexon KoreaNexonServer closing in April 2024[70]
    EA Sports FC MobileEA MobileNexon (JP and KR)Mobile game; FIFA Mobile successor
    EA Sports FC OnlineEA SpearheadNexonPublishing for Korea only; FIFA Online 4 successor.
    The FinalsEmbark StudiosEmbark StudiosCross-platform (PlayStation 4,PlayStation 5, Xbox Series X|S, and PC)
    Dynasty Warriors MNeobards Entertainment (licensed from Koei Tecmo)NexonMobile game
    2024The First DescendantNexon GamesNexonCross-platform (PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, and PC)
    2025The First Berserker: KhazanNeopleNexonMulti-platform Single-Player ARPG (PlayStation 5, Xbox Series X, and PC)
    ARC RaidersEmbark StudiosEmbark StudiosCross-platform (PlayStation 5, Xbox Series X|S, and PC)
    TBANakwon: Last ParadiseMintrocketMintrocket
    Wakerunners
    Mabinogi MobiledevCATNexon
    OVERKILLNeople
    MapleStory NNexon KoreaPC version of MapleStory that uses blockchain technology
    Vindictus: Defying Fate
    Project DXNexon KRBased on Durango: Wild Lands
    Project RXIO Division; RX Studio (MX Studio sister branch)Nexon (expected)"Subculture" game in the same style as Blue Archive, but in a different creative universe
    Azur PromiliaShanghai ManjuuNexon KRChinese open world gacha RPG game being published by Nexon for the Korean region in place of the developer themselves. Feeds into "subculture" otaku appeal. Expected to be self published in other non-Asian regions without Nexon involvement.

    See also

    References

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    2. ^ "Announcement regarding Succession of Representative Director and CEO" (PDF). Nexon. November 9, 2023. Archived from the original (PDF) on July 30, 2025.
    3. ^ Chris Shimamoto (May 15, 2014). "Nexon Surges as Online Game Maker Plans Share Buyback". Bloomberg News.
    4. ^ "Executive Team". NEXON Corporate Profile. Retrieved November 24, 2021.
    5. ^ a b c "Consolidated Financial Results for the Fiscal Year Ended December 31, 2021 [IFRS]" (PDF). Retrieved September 6, 2022.
    6. ^ "Q2 2022 Investor Presentation" (PDF). Retrieved September 6, 2022.
    7. ^ Einhorn, Bruce (August 21, 2014). "Nexon, Asia's 'Freemium' PC Game Pioneer, Gets More Mobile". Bloomberg Businessweek. Archived from the original on August 22, 2014.
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    11. ^ "Kru Interactive Profile". Kru Interactive. Archived from the original on March 3, 2012. Retrieved June 28, 2011.
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    • Official website
    Retrieved from "https://en.wikipedia.org/w/index.php?title=Nexon&oldid=1329216644"