So, anybody got a spare $9B to buy up the biggest gaming company in South Korea?
Reuters reported last night that Nexon founder Kim Jung-ju is aiming to sell “a total of 98.64 percent stake in NXC Corp held by himself and related parties including his wife.”
Your $9B is probably tied up in other ventures right now, but according to the report, Kakao, Netmarble, Tencent, and Electronic Arts are all on the short list of potential buyers.
It’s not super clear why Kim wants out. Kotaku cites a Hankyung source that says Kim was “worn down by increased regulations and a prolonged legal battle over alleged corruption” during which he was cleared of the allegations. The publication also pointed toward Kim quotes that suggest he’s turning to charity. Nexon itself disputed the Hankyung claim, though.
“The reports about CEO Kim Jung-ju looking to sell his shares because of increasing regulations and mentioning about being tired from regulations is different from the truth,” the company told Gamemeca (via Kotaku). “We are in the process of verifying the sales and it’s taking a bit of time because of issues with our official announcement. Regardless of that fact, we are trying to make an announcement about this as soon as possible but it may be in the days that follow.”