Nexon plans deeper cuts after cancelling six projects

• New games now have to pass three approval stages: concept, production and launch.
• Nexon reportedly plans more restructuring targets next year than the eight it had this year.
• Labour costs will reportedly be frozen at this year's level, with more than 300 staff waiting for assignments.

Korean publisher Nexon has cancelled six projects in recent months as part of a company-wide push to cut costs and focus on more profitable games. 

In its Q3 2026 earnings letter published on November 10th, Nexon said it had discontinued six projects and moved their budgets and staff to initiatives with greater commercial potential. The company did not name the projects.

“In the recent months, we have discontinued six projects and deployed the budget and people to initiatives with greater commercial potential," the company said.

Other projects halted this year include Project EL, a major new game stopped in April after two years in development, and Project Everett, a co-op action game from subsidiary Buttons. Buttons closed after Project Everett was cancelled. Nexon had invested around $36 million in the studio.

The cuts follow a review led by chairman Patrick Söderlund, who took the role in February. At Nexon's capital markets briefing in Tokyo in March, Söderlund said the company's portfolio was too broad and that Nexon had been too slow to make difficult decisions. 

He added that Nexon would only keep projects that meet a new minimum profit standard. Nexon has since brought in a three-stage approval process. New games are now reviewed at the concept and prototype stage, again before full production, and a final time before launch.

Deeper cuts ahead

According to Korea Economic Daily, Nexon's strategy for next year includes more restructuring targets than the eight businesses and projects it halted or reorganised this year. The plan was reportedly drawn up a month earlier than usual amid concerns over a shrinking player base and competition from streaming services.

Nexon will also reportedly freeze labour costs at this year's level and keep hiring to a minimum. More than 300 employees across Nexon Korea, Neople and Nexon Games are said to be waiting for new assignments.

A senior Nexon official told the outlet that the company was approaching its overhaul with a "do or die" mindset, warning that it needed to make significant changes to survive.

The pressure comes as Krafton challenges Nexon's position as Korea's biggest games company, a spot Nexon has held by revenue and operating profit since 2008. Krafton overtook Nexon in the first half of 2026 with record revenue of $1.84 billion and operating profit of $671m.