A public tender for a 4.7 trillion won stake in NXC, the holding company of Nexon, has ended empty-handed again.The second tender for 851,968 shares (29.3 percent stake) of NXC failed to find buyers, according to the Online Tender Offer System of Korea Asset Management Corporation (KAMCO) on Dec. 29
Shinhan Financial Group has temporarily suspended its review of investment in Korbit, one of the four largest virtual asset exchanges in Korea.The group halted its Korbit investment review in April. “It is true that we stopped the investment review,” a Shinhan Financial Group official said. “We can
NXC said on March 1 that director Kim Jung-ju died in late February in the United States at the age of 54. Kim was being treated for depression, and recently his condition had deteriorated.Kim entered the game business in 1996 by founding Nexon Corp., a game developer, with Song Jae-kyung (currently
SK Group is planning to make all its services and products available in the metaverse. It is also planning to issue its own virtual assets in the future so that its affiliates can purchase products and services with them.Related investment will be led by SK Inc., the group's holding company, and
SK Square, which was split off from SK Telecom, has chosen blockchain and metaverse-related companies as its first investment targets.SK Square announced on Nov. 29 that it has invested about 90 billion won in Korbit, a Korean virtual currency exchange, to acquire a 35 percent stake in it. As a resu
Nexon announced on April 28 that Nexon Japan bought 1,717 Bitcoins by investing US$100 million. “The average purchase price is US$58,226 and the total purchase is less than 2 percent of Nexon’s cash and cash equivalents,” it explained.At present, Nexon is in control of Nexon Japan via NXC, an unlist
Industry sources reported that a total of six South Koreans are on the Bloomberg Billionaires list.The six on the top 500 list are Samsung Electronics vice chairman Lee Jae-yong (51st), Celltrion chairman Seo Jung-jin (177th), Nexon founder and NXC chairman Kim Jung-ju (201st), Kakao chairman Kim Be
NXC, the holding company of Nexon, is reportedly planning to acquire about 65 percent of virtual asset exchange Bithumb Korea for approximately 500 billion won from Bithumb Holdings and Bithumb Korea chairman Lee Jung-hoon. Major Bithumb shareholders include Bithumb Holdings (74 percent), Vidente (1
NXC Corp. CEO Kim Jung-ju has recently informed potential buyers of his company of his decision to scrap the bidding process. Kim recently sent an e-mail to participants in the public tender through Morgan Stanley, the leading manager of the sale. He also individually contacted the leaders of the co
The planned sale of the parent company of South Korea’s biggest online gaming firm Nexon Co. has been canceled. NXC Corp. chairman Kim Jung-ju could not narrow the valuation gap with domestic investors after failing to find a foreign buyer. Kim has sought to sell off the 98.64 percent stake in NXC C
Five Korean companies are competing to acquire NXC Corp., the holding company of Nexon Group that owns Nexon Co., the largest gaming company in Korea.The final bidders are Kakao Corp., Netmarble, MBK Partners, KKR and Bain Capital. Up for sale in the tender, which was closed in the United States on
NXC Corp. has again delayed the tender scheduled for this week for the sale of its controlling stakes in its affiliates, including Nexon Co., Korea’s largest gaming company. Some watchers say that the deal itself may be cancelled. This is because the sale price is as high as 15 trillion won (US$12.6
Global investment banking (IB) companies headquartered in Hong Kong, including J.P. Morgan, are visiting South Korea for talks with South Korean financial companies before the official auction for NXC Corp. starts. They are discussing a financing structure with local financial companies as the sale
A civic organization has accused Kim Jung-ju, chairman of NXC Corp., the holding company of Nexon Group, of evading taxes.Specwatch Korea, which monitors speculative capital, said in a press conference at the Seoul Central Prosecutor's Office on Feb. 12 that it would file a petition with the pro
South Korean gaming firm Netmarble Corp. has formed a consortium with Chinese internet services provider Tencent and domestic private equity fund (PEF) MBK Partners to acquire NXC Corp., the holding company of Nexon Group. Netmarble joined hands with Tencent as a strategic investor and MBK Partners
As South Korea’s leading messenger operator Kakao Corp. is reviewing the possibility of an acquisition for Nexon Co., the country’s biggest gaming company, the competitive composition has become more complex. Chinese gaming firm Tencent Holdings Ltd. and foreign mega private funds, such as KKR & Co
The South Korean gaming industry faces deepening challenges. Chinese games have already outpaced South Korean games in terms of technical skill and quality. To top it off, the owner of nation’s largest gaming company Nexon Co. has put his entire stake for sale.Gaming industry sources said on Jan. 6
The founder of South Korea’s largest gaming company Nexon Co. has put his entire stake in NXC Corp., the group’s holding company, up for sale.Gaming and investment banking (IB) industry sources said on Jan. 3 that NXC CEO Kim Jung-ju has offered to sell off NXC shares owned by him and his affiliated
Nexon's holding company, NXC, has acquired Bitstamp, a virtual currency exchange based in Luxembourg. This is NXC’s second acquisition of a cryptocurrency exchange following Korbit, a South Korean virtual currency exchange, last year.According to foreign media and domestic industry sources on Oc
Online shopping companies are going all out to attract investment.Companies that have lost profitability in the heated e-commerce market competition for a few years are looking for breakthroughs by attracting investment.Traditional offline distribution dinosaurs, Shinsegae and Lotte, are also keen t