South Korean mobile games giant Netmarble has nominated vice president Byung Gyu Kim for the role of co-CEO at the company, with a formal appointment expected to follow in March.
Provided approval is granted at the upcoming shareholders’ meeting, Byung Gyu will rise to the new position after more than eight years with Netmarble, and will serve alongside chief business officer Young-sig Kwon.
Entering at an important time
Byung Gyu worked at Samsung C&T prior to Netmarble. Joining the latter in 2015, he has since taken charge of various areas of the business from its legal side, to policies, overseas affiliate management, and strategic planning.
And with his coming rise, former co-CEO Gi-wook Do is set to step down and prioritise his CFO role instead.
“We expect the new co-CEO, Byung Gyu Kim, who is in his 40s and has expertise not only in legal affairs but also in overseas affiliate management and strategic planning, to contribute positively to Netmarble’s new changes and growth,” said Netmarble.
The Lineage 2 maker landed on our Top 50 Mobile Game Makers list last year after generating more than $2 billion in annual revenue. Seven Knights Idle Adventure pushed Netmarble to Korea’s second-biggest mobile publisher status too, generating nearly $40 million between September and October 2023.
Netmarble was the fifth-biggest Korean publisher prior to the idle title’s launch, and notably, Korean gamers contributed 76.7% of the game’s earnings in its early months, dominating the likes of Japan and the US’s 4.8% and 3.2% respectively. Yet, across Netmarble’s entire catalogue, Korean revenues account for only 17% of global sales, demonstrating the exceptional impact Seven Knights Idle Adventure is having in the region.
In the first half of 2024, Netmarble hopes to launch six new games with its new co-CEO driving the business forward.
