Wemade founder sells controlling stake to NeoPulse in $593m deal

• Park said expanding beyond the Korean market is now a necessity for survival.
• The companies plan to target global markets, including China, with new game development.
• Wemade and NeoPulse said AI will play a central role in the company's future strategy.

South Korean game developer Wemade founder Park Kwan-ho has agreed to sell his controlling stake to NeoPulse, the Korean subsidiary of Hong Kong-based investment company Shengsong Investment.

As reported by The Korea Herald, Park signed a stock purchase agreement to sell his entire 39.33% stake in the company for approximately 920 billion won ($593 million). Once the transaction closes on October 30th, NeoPulse will hold a 40.25% stake in Wemade.

In a message to employees following the announcement, Park said the games industry had outgrown national borders and argued that expanding into larger markets had become "a necessity for survival" rather than a choice. 

“We’ve passed the era where we drew the future of our company in just the Korean market," said Park. “The expansion into a bigger market is not a ‘choice’ but a ‘necessity for survival.’ I’ve decided that now is the time to lay down the stepping stone for Wemade to take the leap into the bigger stage."

China expansion

Wemade said NeoPulse's investment was driven by the company's MMORPG development expertise and the strong recognition of its Legend of Mir intellectual property in China.

Following the acquisition, NeoPulse plans to develop new games for the global market, including China, while expanding business models through partnerships with China's leading IT companies, game developers and publishers. 

Wemade added that both companies share a vision of building future games powered by artificial intelligence while accelerating growth in the Chinese market.

Park said AI is reshaping both game development and how players experience games, adding that Wemade aims to lead industry changes rather than follow them.

“AI is changing the way we make games and enjoy them,” Park added. “The market expectations for the completeness and quality of a game are higher than ever. We must be a company that does not follow the trend but leads it before others.”