Krafton#Bluehole Studio

Following the success of PUBG: Battlegrounds, which had led to both investment from Tencent Holdings, and expansion and acquisition of studios, Bluehole opted to establish Krafton on 5 November 2018, to serve as a holding company for its video game properties. "Krafton" was selected based on the names of craft guilds of the Middle Ages.{{cite web |url=http://www.theinvestor.co.kr/view.php?ud=20181105000797 |title=Bluehole launches new brand for its subunits |last=Kim |first=Young-won |date=5 November 2018 |website=The Investor}} Kim Chang-han, the CEO of the PUBG Corporation (current PUBG Studios) that developed PlayerUnknown's Battlegrounds, was named as CEO for Krafton.

The company announced its plans to file for an initial public offering in July 2021, filing its initial approval for listing on the Korea Stock Exchange in April 2021.{{cite web|last=Daniel|first=Joshua|title=PUBG creator Krafton plans to raise $5 billion from the stock market - MEGPlay|work=MEGPlay |date=16 June 2021 |url=https://megplay.com/krafton-pubg-stock-market/|access-date=21 June 2021|language=en-US}} The firm planned to raise {{SK won|5.6 trillion}} (US$5 billion) at a market valuation of {{SK won|30 trillion}} ({{US$|27.2 billion}}).{{cite web | url = https://www.reuters.com/article/uk-krafton-ipo-idUSKBN2BV15L | title = Korean video game firm Krafton applies for IPO, seen worth billions of dollars | first = Joyce | last = Lee | date = 8 April 2021 | accessdate = 16 April 2021 | publisher = Reuters }} The IPO was held on 10 August 2021; while its value dropped by 8.8% from the original asking price at the end of trading, it still ended with Krafton being valued at {{USD|19.32 billion}}.{{cite web | url = https://finance.yahoo.com/news/1-shares-koreas-krafton-maker-002410374.html | title = UPDATE 4-S.Korea's Krafton, maker of hit game 'PUBG', tumbles on debut | first1 = Joyce | last1 = Lee | first2 = Scott | last2 = Murdoch | date = 10 August 2021 |accessdate = 10 August 2021 | publisher =Reuters | via = Yahoo News }}

Bluehole has acquired several development studios since its founding. On 5 November 2018, all subsidiaries were reorganized under one parent company: Krafton Game Union.

File:Bluehole Logo.svg

Bluehole Studio was founded in Seoul in March 2007 by Chang Byung-gyu.{{cite web |url=https://www.koreatimes.co.kr/www/tech/2019/06/134_236228.html |title=Past failures and endurance can make success |last=Yoon |first=Sung-won |date=10 September 2017 |website=The Korea Times}} Chang previously established Neowiz in 1997, along seven other co-founders, moved on to found search engine developer First Snow in 2005, and sold that venture in 2006.{{cite web |url=https://www.koreatimes.co.kr/www/tech/2019/06/133_229710.html |title='Serial entrepreneurs' pioneer IT industry |last=Yoon |first=Sung-won |date=21 May 2017 |website=The Korea Times}} The company announced on 22 April 2015 that they had changed their name to simply Bluehole.{{cite web |url=http://www.zdnet.co.kr/news/news_view.asp?artice_id=20150422105308 |title=Beulluhol, pinigseugeimjeu·seukol insulo mobailsijang jeongyeog jinchul |script-title=ko:블루홀, 피닉스게임즈·스콜 인수로 모바일시장 전격 진출 |language=ko |trans-title=Bluehole enters into mobile market with acquisition of Phoenix Games |last=박 |first=소연 |date=22 April 2015 |website=ZDNet Korea}}

In August 2017, Chinese holding company Tencent announced that it had, following a rejected acquisition bid, invested an undisclosed amount of money into Bluehole.{{cite web |url=https://www.gamedeveloper.com/business/report-tencent-invests-in-i-battlegrounds-i-dev-bluehole |title=Report: Tencent invests in Battlegrounds dev Bluehole |first=Alissa |last=McAloon |date=14 August 2017 |website=Gamasutra}} Bluehole initially denied that any investment had been made,{{cite web |url=https://www.gamesindustry.biz/articles/2017-08-15-tencent-invests-in-playerunknowns-battlegrounds-studio-bluehole-report |title=Bluehole squashes Tencent investment rumour |first=Will |last=Freeman |date=15 August 2017 |website=GamesIndustry.biz}} but later stated that they were in talks with Tencent in multiple partnerships, including the acquisition of an equity stake in Bluehole by Tencent.{{cite web |url=https://www.gamesindustry.biz/articles/2017-09-28-bluehole-confirms-tencent-talks |title=Bluehole confirms Tencent talks |first=Brendan |last=Sinclair |date=28 September 2017 |website=GamesIndustry.biz}} Subsequently, Tencent acquired 1.5% of Bluehole for a total of {{KRW|70 billion|link=yes}}.{{cite web |url=http://www.koreaherald.com/view.php?ud=20180430000772 |title=Tencent eyes investment in Bluehole, maker of hit video game 'Battlegrounds' |first=Sohn |last=Ji-young |date=30 April 2018 |website=The Korea Herald}} Tencent reaffirmed their intents to fully acquire Bluehole in November 2017.{{cite web |url=https://www.gamesindustry.biz/articles/2017-11-09-tencent-still-eyes-acquisition-of-playerunknowns-battlegrounds-developer-bluehole-report |title=Tencent still eyes acquisition of PUBG developer Bluehole - report |first=Christopher |last=Dring |date=9 November 2017 |website=GamesIndustry.biz}}{{cite web |url=https://www.mcvuk.com/tencent-could-yet-acquire-bluehole/ |title=Tencent could yet acquire Bluehole |author=MCV Staff |date=9 November 2017 |website=MCV}} Korean magazine The Korea Times suggested that an initial public offering, through which Bluehole would become a public company, was "out of question" due to Chang Byung-gyu's position as chairman of both Bluehole and the Fourth Industrial Revolution committee.{{cite magazine |url=https://www.pcgamer.com/tencent-seemingly-still-pursuing-bluehole-takeover-bid/ |title=Tencent seemingly still pursuing Bluehole takeover bid |first=Joe |last=Donnelly |date=9 November 2017 |magazine=PC Gamer}} At the time, 38 Communications, a company that tracks unlisted Korean stocks, valued the company at {{KRW|5.2 trillion}}.{{cite web |url=https://www.bloomberg.com/news/articles/2017-09-27/one-man-s-journey-from-welfare-to-world-s-hottest-video-game |title=One Man's Journey From Welfare to World's Hottest Video Game |first1=Yuji |last1=Nakamura |first2=Sam |last2=Kim |date=27 September 2017 |website=Bloomberg L.P.}}{{cite web |url=https://www.shacknews.com/article/101511/pubg-developer-bluehole-inc-valued-at-over-4-billion |title=PUBG Developer Bluehole, Inc. Valued at Over $4 Billion |first=Asif |last=Khan |date=27 September 2017 |website=Shacknews}} Tencent plans to invest further {{KRW|500 billion}} to acquire further 10% ownership, raising their total stake to 11.5%.{{cite web |url=https://www.gamedeveloper.com/business/report-tencent-could-sink-470m-into-i-battlegrounds-i-dev-bluehole |title=Report: Tencent could sink $470M into Battlegrounds dev Bluehole |first=Chris |last=Kerr |date=30 April 2018 |website=Gamasutra}}

File:PUBG Studios Logo.svg

PUBG Studios (formerly Ginno Games, Bluehole Ginno Games and PUBG Corporation) is an internal studio of Bluehole's that developed one of the establishing battle royale games, PlayerUnknown's Battlegrounds (PUBG), based on user mods in other games by Brendan "PlayerUnknown" Greene and who was hired by PUBG Studios to develop it into a full title. Originally, Ginno Games had been founded by Kim Chang-han to develop MMOs, but around 2014, he had been forced to lay off a third of his staff as their last product had not performed well.{{cite web | url = https://www.bloomberg.com/news/articles/2021-01-18/coding-prodigy-behind-hit-game-pubg-eyes-ipo-worth-billions | title = Coding Prodigy Behind Hit Game PUBG Eyes IPO Worth Billions | first= Sohee | last = Kim | date = 18 January 2021 | access-date = 19 January 2021 | work = Bloomberg News }} He sold Ginno Games to Bluehole on 27 January 2015, with the sale to close on 27 March that year.{{cite web |url=http://www.zdnet.co.kr/news/news_view.asp?artice_id=20150127114002 |title=Beulluholseutyudio, 'debillieon' jinogeimjeu insu chujin |script-title=ko:블루홀스튜디오, '데빌리언' 지노게임즈 인수 추진 |language=ko |trans-title=Bluehole Studio to acquire 'Devilian' Ginno Games |last=이 |first=도원 |date=27 January 2015 |website=ZDNet Korea}}{{cite web |url=http://www.ddaily.co.kr/news/article.html?no=126772 |title=Beulluhol, jinogeimjeu insu…haegsim injae hwagbo |script-title=ko:블루홀, 지노게임즈 인수…핵심 인재 확보 |language=ko |trans-title=Bluehole acquires Ginno Games ... Gain core talent |first=대호 |last=이 |date=27 January 2015 |website=Digital Daily}} At the time, Ginno Games employed 60 people. Ginno Games changed their corporate name to Bluehole Ginno Games in May 2015. Shortly after Bluehole's acquisition in 2015, Chang-han reached out to Greene to offer him support to build out his battle royale at Bluehole Ginno, which Greene accepted. PUBG was first released in early access in March 2017 as a highly popular game. Following the success of PUBG in 2017, Bluehole Ginno Games was renamed PUBG Corporation in September 2017.{{cite web |url=https://www.rockpapershotgun.com/2017/09/29/playerunknowns-battlegrounds-studio-becomes-pubg-corporation/ |title=Playerunknown's Battlegrounds studio becomes PUBG Corp. [updated] |first=Alice |last=O'Connor |date=29 September 2017 |website=Rock, Paper, Shotgun}}

A second office was established in Madison, Wisconsin, in late 2017, with two further offices in Amsterdam and Japan opened later.{{cite web |url=https://www.polygon.com/2017/9/29/16384350/pubg-corp-spin-off-as-tencent-investment |title=PUBG team will spin off as subsidiary company |first=Charlie |last=Hall |date=29 September 2017 |website=Polygon}}{{cite web |url=https://www.gamesindustry.biz/articles/2018-01-23-new-amsterdam-office-to-kick-off-2018-expansion-of-pubg-corp |title=PUBG Corp. to kick off 2018 expansion with new Amsterdam office |first=James |last=Batchelor |date=23 January 2018 |website=GamesIndustry.biz}} On 12 March 2018, PUBG Corporation acquired New York-based studio MadGlory, which was renamed PUBG MadGlory.{{cite web |url=https://www.gamesindustry.biz/articles/2018-03-12-pubg-corp-acquires-madglory-to-enable-community-developer-tools |title=PUBG Corp acquires MadGlory to enable community developer tools |first=James |last=Batchelor |date=12 March 2018 |website=GamesIndustry.biz}}

{{anchor|Prologue}}Greene, having been based in the Seoul offices of PUBG Corporation, left that division in March 2019 to lead a new subsidiary, PUBG Special Projects, at the Amsterdam office, later renamed to PUBG Productions.{{cite web | url = https://www.gamesindustry.biz/articles/2019-03-13-brendan-greene-leading-new-special-projects-division-at-pubg-corp | title = Brendan Greene leading new Special Projects division at PUBG Corp | first = James | last= Batchelor | date = 13 March 2019 | access-date = 19 December 2019 | work = GamesIndustry.biz }} PUBG Productions announced their first game Prologue at The Game Awards 2019 in December. Unrelated to Battlegrounds, Prologue is called an exploration of gameplay and technology, and said "to give players unique and memorable experiences, each and every time they play".{{cite web | url = https://www.polygon.com/game-awards-tga/2019/12/12/21019929/playerunknowns-prologue-new-game-battlegrounds-tga-2019 | title = PlayerUnknown's next project, Prologue, announced | first= Austen | last =Goslin | date = 12 December 2019 | access-date = 12 December 2019 | work = Polygon }}

At the end of 2019 Tencent Games announced some big plans for PUBG in India's upcoming future, as well as its general eSports.{{cite web|last=Vora|first=Mayank|date=1 July 2019|title=PUBG News: Tencent Games and PUBG Corp. announce PUBG MOBILE India Tour 2019|url=https://www.sportskeeda.com/esports/pubg-news-tencent-games-and-pubg-corp-announce-pubg-mobile-india-tour-2019|access-date=9 August 2021|website=www.sportskeeda.com|language=en-us}}

Krafton fully merged PUBG Corporation into their internal studio system in December 2020, rebranding the team as PUBG Studios.{{cite web | url = https://archive.esportsobserver.com/krafton-pubg-studio/ | title = PUBG Corp. Fully Merges into KRAFTON, Becomes PUBG Studio | first= Tobias | last = Seck | date = 1 December 2020 | accessdate = 23 July 2021 | work = The Esports Observer }}

On 9 November 2020, it was announced that Krafton will participate in G-Star 2020 to introduce their upcoming multiplayer online game Elyon through Krafton, an e-sports reality show where celebrities and streamers entered a special school that specialized in battlegrounds conduct episodes and talk related to PUBG Series 3. Celebrities (G)I-dle's Song Yuqi and Ailee and streamers Chyo Man and Choi Kwang-won appeared in the show.{{cite web|url=https://sports.chosun.com/news/ntype.htm?id=202011100100075540004926&servicedate=20201109|script-title=ko:크래프톤, '지스타 2020'에 '승부겜성'이란 메시지로 참가|trans-title=Krafton participates in 'G-Star 2020' with the message of 'Game Match'|author= Nam Jeong-seok|work=Sports Chosun|date=9 November 2020}}

In September 2020, the Government of India banned PUBG Mobile in the country along with several apps published by Chinese vendors, in this case Tencent Games, due to data privacy issues. To relaunch the game back in India, Krafton took back the control of Intellectual Property (IP) of the game for the Indian region from Tencent. An aesthetically new version of PUBG Mobile, Battlegrounds Mobile India, was launched on 2 July 2021 for Android{{cite web|title=BATTLEGROUNDS MOBILE INDIA created by KRAFTON for Indian gamers drops today!|url=https://www.battlegroundsmobileindia.com/news_view/615?n=16&t=46&c=|access-date=31 August 2021|website=www.battlegroundsmobileindia.com|language=en}} and on 18 August 2021 for iOS.{{cite web|title=The Wait is Over! BATTLEGROUNDS MOBILE INDIA has launched on iOS App Store today!|url=https://www.battlegroundsmobileindia.com/news_view/675|access-date=31 August 2021|website=www.battlegroundsmobileindia.com|language=en}} This time the game was published by Krafton, Inc.

In February 2021, PUBG Studios announced the development of PUBG: New State, the second installment in the PUBG Universe, set in the future (2051). Drones, shields, weapon customization, neon sights, reviving teammates and 'recruiting' knocked out enemies are just some of the new mechanics in PUBG: New State. The game released on 11 November 2021, and reported through a presentation that to date the game had exceeded 55 million pre-registrations on Google Play and App Store.{{cite web|title=PUBG: NEW STATE - Assets - KRAFTON Press Room|url=https://press.pubg.com/pubg-newstate|access-date=27 October 2021|website=press.pubg.com|archive-date=4 January 2022|archive-url=https://web.archive.org/web/20220104035950/https://press.pubg.com/pubg-newstate|url-status=dead}}{{cite web|title=PUBG: NEW STATE – officially released on November 11th on iOS and Android|url=https://news.in-24.com/technology/amp/231066|access-date=27 October 2021|website=news.in-24.com}} On 27 January 2022, a name change was announced, going from being called "PUBG: New State" to being called "New State Mobile". According to Krafton this was done to create a unique mobile-centric experience, and through that change they were putting it into practice.{{cite web|title=Hello Survivors. NEW STATE has always been a mobile-focused experience, and through the transformation to NEW STATE MOBILE, we are bringing this to the core. We always appreciate your support, and please look out for upcoming content updates later this year.|url=https://twitter.com/_newstatemobile/status/1486549651692011528|access-date=18 February 2022|website=Twitter|language=en}}

In Fall 2024, Krafton signed a licensing agreement with Pocketpair for Palworld{{'}}s intellectual property. PUBG Studios announced it has begun developing a mobile version of the game.{{Cite web |last=Ozoa |first=Enricko |date=2024-10-11 |title=New Palworld Mobile Game Explained |url=https://gamerant.com/palworld-new-mobile-game-krafton-pubg-studios-explained/ |access-date=2024-10-14 |website=Game Rant |language=en}}

In June 2019, a new studio called Striking Distance was opened in conjunction with Glen Schofield, the co-founder of Sledgehammer Games. Striking Distance, headed by Schofield as chief executive officer, was set to develop narrative-driven games based on PUBG.{{cite web |url=https://www.pcgamesn.com/pubg/striking-distance |title=Former COD exec joins PUBG developer to make narrative games "beyond battle royale" |first=Ali |last=Jones |date=26 June 2019 |website=PCGamesN}} The studio's first game is The Callisto Protocol, a survival horror game. It was originally intended to be set within the PUBG universe but that never went into fruition. It was released on December 2, 2022. In August 2024, the studio announced [REDACTED], a new game set in the Callisto Protocol universe.{{Cite web |last=Dinsdale |first=Ryan |date=2024-08-22 |title=Callisto Protocol Dev Announces [REDACTED], a Roguelike Set in the Game's Black Iron Prison |url=https://www.ign.com/articles/callisto-protocol-dev-announces-redacted-a-roguelike-set-in-the-games-black-iron-prison |access-date=2024-08-27 |website=IGN |language=en}} [REDACTED] was released on 28 October 2024, receiving initial positive reviews.{{Cite web |title=[REDACTED] Reviews |url=https://www.metacritic.com/game/redacted/ |access-date=2024-10-28 |website=www.metacritic.com |language=en}}

Striking Distance Studios is headquartered in San Ramon, California.{{cite web|url=https://venturebeat.com/2020/12/10/the-calisto-protocol-comes-from-striking-distance-studios-in-2022/|title=The Callisto Protocol comes from Striking Distance Studios in 2022|first=Dean|last=Takahashi|work=VentureBeat|date=10 December 2020|access-date=12 December 2020}}

RisingWings is a game development company formed by the merger of Pnix and Delusion. RisingWings focuses primarily on casual mobile games.{{cite web|title=RisingWings - GAMES|url=https://en.risingwings.com/games|access-date=11 February 2022|website=라이징윙스 공식|language=ko}} RisingWings is based in Seoul.{{cite web|last1=Partleton|first1=Kayleigh|last2=Writer|first2=Staff|title=Krafton consolidates Pnix and Delusion Studio to form RisingWings|url=https://www.pocketgamer.biz/news/75198/krafton-consolidates-pnix-and-delusion-studio-to-form-risingwings/|access-date=9 August 2021|website=pocketgamer.biz|date=2 December 2020 }}{{cite web|title=RisingWings - GAMES|url=https://en.risingwings.com/games|access-date=9 August 2021|website=라이징윙스 공식|language=ko}}

Dreamotion is a South Korean video game development company founded in July 2016.{{cite web|title=Dreamotion Inc. - Android developer info on AppBrain|url=https://www.appbrain.com/dev/Dreamotion+Inc./|access-date=15 May 2021|website=App Brain}} They primarily focus on developing mobile games.{{cite web|title=Dreamotion Inc.|url=http://dreamotion.us/#Games|access-date=11 February 2022|website=dreamotion.us}} Dreamotion was acquired by Krafton on 13 May 2021.{{Cite news|date=14 May 2021|title=PUBG owner Krafton has acquired mobile studio Dreamotion|work=Gamasutra|url=https://www.gamasutra.com/view/news/381460/PUBG_owner_Krafton_has_acquired_mobile_studio_Dreamotion.php|archive-url=https://web.archive.org/web/20210514133011/https://www.gamasutra.com/view/news/381460/PUBG_owner_Krafton_has_acquired_mobile_studio_Dreamotion.php|url-status=dead|archive-date=14 May 2021|access-date=15 May 2021}}{{Cite news|last=Wasif|first=Ahmed|date=13 May 2021|title=Krafton acquires mobile game development company Dreamotion|work=Dot Esports|url=https://dotesports.com/news/krafton-acquires-mobile-game-development-company-dreamotion|access-date=15 May 2021}}{{Cite news|date=15 May 2021|title=Krafton Inc. acquired game developer 'Dreamotion Inc.'|work=The Indian Esports|url=https://indianesports.indialivedaily.com/esportsbiz/krafton-inc-acquired-game-developer-dreamotion-inc/|access-date=3 July 2021}}

Thingsflow Inc. an interactive content production company known for Hellobot, a chat-based content platform that allows users to engage with bot-driven characters through dedicated apps and messenger services. As of May 2021, Hellobot has more than four million users throughout Korea and Japan. On 29 June 2021 this company was acquired by Krafton.{{Cite web |title="KRAFTON, INC. ACQUIRES THINGSFLOW, AN INTERACTIVE CONTENT PRODUCTION FIRM" - KRAFTON Press Room |url=https://press.krafton.com/KRAFTON-INC-ACQUIRES-THINGSFLOW-AN-INTERACTIVE-CONTENT-PRODUCTION-FIRM |access-date=2024-08-12 |website=press.krafton.com}}

Unknown Worlds Entertainment, founded in 2001 in San Francisco, California, is a video game studio renowned for titles like Natural Selection and Subnautica.{{cite web|title=Unknown Worlds Games|url=https://unknownworlds.com/games/|access-date=11 February 2022|website=Unknown Worlds|language=en}} In October 2021, the studio was acquired by Krafton. In August 2022, they announced the development of Moonbreaker, a turn-based strategy game set in a sci-fi universe crafted by author Brandon Sanderson.{{cite web|date=29 October 2021|title=KRAFTON, INC. TO ACQUIRE UNKNOWN WORLDS, THE DEVELOPERS BEHIND SUBNAUTICA AND NATURAL SELECTION {{!}} KRAFTON|url=https://krafton.com/en/news/press/krafton-inc-to-acquire-unknown-worlds-the-developers-behind-subnautica-and-natural-selection/|access-date=11 February 2022|language=en-US}}{{cite web|title=Krafton to acquire U.S. game developer Unknown Worlds for maximum $750 mn - Pulse by Maeil Business News Korea|url=https://m.pulsenews.co.kr/view.php?year=2021&no=1032094#:~:text=Krafton%20to%20acquire%20U.S.%20game%20developer%20Unknown%20Worlds%20for%20maximum%20$750%20mn,-2021.11.01%2009&text=South%20Korea's%20Krafton%20Inc.,%20the,it%20went%20public%20in%20August.|access-date=11 February 2022|website=m.pulsenews.co.kr|language=ko}}{{Cite news |last=Bell |first=Alice |date=2022-08-23 |title=The Subnautica devs are doing a turn-based, space-pirates, tabletop miniatures game called Moonbreaker |language=en |work=Rock, Paper, Shotgun |url=https://www.rockpapershotgun.com/the-subnautica-devs-are-doing-a-turn-based-space-pirates-tabletop-miniatures-game-called-moonbreaker |access-date=2022-08-24}} The game had its full release on February 2, 2024.{{Cite news |last=Bolding |first=Jonathan |date=2024-02-03 |title=Moonbreaker, the digital miniatures game from Subnautica developer Unknown Worlds, has released |url=https://www.pcgamer.com/moonbreaker-the-digital-miniatures-game-from-subnautica-developer-unknown-worlds-has-released/ |access-date=2024-08-12 |work=PC Gamer |language=en}}

The studio is currently developing Subnautica 2, the sequel to Subnautica (2018) and Subnautica: Below Zero (2021). Subnautica 2 is scheduled to enter early access in 2025 and will initially be available on Windows PC and Xbox Series X/S platforms.{{Cite web |last=Weber |first=Rachel |date=2024-10-17 |title=Subnautica 2 Adds a New Planet and Co-Op in 2025 |url=https://www.ign.com/articles/subnautica-2-adds-a-new-planet-and-co-op-in-2025 |access-date=2025-02-15 |website=IGN |language=en}}

5minlab is a South Korean company founded in 2013, known for developing Smash Legends, Baam Squad, Toy Clash, among others.{{cite web|last=5minlabhostmaster|title=Games_EN|url=https://5minlab.com/en/games_us/|access-date=11 February 2022|website=5minlab|language=en-US}} It is also known for developing live Q&A broadcast systems and providing AR/VR software and content to large corporations and broadcast companies. This company was acquired by Krafton in February 2022.{{cite web|date=14 February 2022|title=KRAFTON ACQUIRES 5MINLAB, DEVELOPERS OF SMASH LEGENDS {{!}} KRAFTON|url=https://www.krafton.com/en/news/press/krafton-acquires-5minlab-developers-of-smash-legends/|access-date=20 February 2022|language=en-US}}{{cite web|date=11 February 2022|script-title=ko:크래프톤, '스매시 레전드' 개발사 5민랩 인수 {{!}} KRAFTON|url=https://blog.krafton.com/6298/|access-date=11 February 2022|website=blog.krafton.com|language=ko}}

Notable games developed by 5minlab after its acquisition by Krafton include Kill the Crows, a fast-paced top-down western arena shooter, and Private Military Manager. The studio is currently developing Dinkum Together, a multiplayer spin-off of the life simulation game Dinkum, by James Bendon. In February 2025, it was announced that Krafton had acquired publishing rights for all titles within the Dinkum IP.{{Cite web |title="KRAFTON SIGNS GLOBAL PUBLISHING DEAL FOR PC SURVIVAL LIFE SIM DINKUM AND EXPANDS LANGUAGE SUPPORT TO 14 LANGUAGES " - Games Press |url=https://www.gamespress.com/tr/KRAFTON-SIGNS-GLOBAL-PUBLISHING-DEAL-FOR-PC-SURVIVAL-LIFE-SIM-DINKUM-A |access-date=2025-02-15 |website=www.gamespress.com}}{{Cite web |date=2025-02-12 |title=Krafton announced on the 12th that it has signed a global publishing contract for the survival life .. |url=https://www.mk.co.kr/en/it/11239185 |access-date=2025-02-15 |website=Maeil Business Newspaper |language=en}}{{Unreliable source?|reason=Non–Korean language versions of this website use automatic machine translation; see WP:KO/RS|date=May 2025}}

In November 2022, it was announced that Krafton had acquired Neon Giant, the Uppsala-based developer of The Ascent.{{Cite web |last=D'Angelo |first=William |date=2022-11-11 |title=Krafton Acquires The Ascent developer Neon Giant |url=https://www.vgchartz.com/article/455438/krafton-acquires-the-ascent-developer-neon-giant/ |access-date=2022-11-11 |website=VGChartz |language=en-US}}

Krafton had opened Krafton Montreal Studio, its first Canadian studio, in February 2023. As its first game, the studio is developing a game based on the South Korean fantasy novel The Bird That Drinks Tears by Lee Yeongdo.{{cite web | url=https://krafton.com/en/news/press/krafton-inc-to-open-its-first-canadian-aaa-game-studio-in-montreal/ | title=Krafton Inc. To Open ITS First Canadian AAA Game Studio in Montréal | Krafton | date=9 February 2023 }}

{{Main|Tango Gameworks}}

On August 11, 2024, Krafton announced their purchase of Tango Gameworks and the intellectual property rights to Hi-Fi Rush from Microsoft Gaming following the studio's closure earlier that June. The development studio acts as Krafton's first video game subsidiary based in Japan, with the rights to previous Tango games remaining with Microsoft Gaming's ZeniMax Media division. Following the acquisition, Krafton plans "to continue developing the Hi-Fi Rush IP and explore future projects", while also forged a strategic partnership with Microsoft, including help integrate Tango among the others Krafton's studios and support future Hi-Fi Rush projects.{{Cite web |last=Corden |first=Jez |date=11 August 2024 |title=Former Xbox studio Tango Gameworks and 'Hi-Fi Rush' have been acquired by PUBG's Krafton Inc, saving it from closure |url=https://www.windowscentral.com/gaming/xbox/former-xbox-studio-tango-gameworks-and-hi-fi-rush-has-been-acquired-by-pubgs-krafton-inc-saving-it-from-closure |access-date=2024-08-11 |work=Windows Central |publisher=Future plc |language=en}}{{Cite web |date=2024-08-12 |title=KRAFTON Strengthens Global Presence Through Strategic Integration of Tango Gameworks and Hi-Fi RUSH IP |url=https://krafton.com/en/news/press/krafton-strengthens-global-presence-through-strategic-integration-of-tango-gameworks-and-hi-fi-rush-ip/ |access-date=2024-08-12 |website=Krafton |language=en-US}}

In early 2025, it was announced that Krafton had founded InZOI Studio, the development studio behind the simulation game InZOI.{{Cite web |date=2025-01-14 |title=inZOI Studio {{!}} KRAFTON |url=https://www.krafton.com/en/studios/inzoi/ |access-date=2025-02-02 |website=www.krafton.com |language=en-US}}

L-Time Games was founded in June 2009.{{cite web |url=https://www.thisisgame.com/webzine/rboard/1/?page=1274&n=33741 |script-title=ko:신생 개발사 엘타임게임즈, 25억원 투자 유치 |language=ko |trans-title=New development company L-Time Games attracts 2.5 billion won investment |date=15 September 2011 |website=ThisIsGame}} The company attracted a {{KRW|2 billion}} and a {{KRW|5 billion}} investment from Knet Investment Partners and IMM Investments, respectively.{{cite web |url=http://www.zdnet.co.kr/news/news_view.asp?artice_id=20110915204001 |title=Sinsaeng gaebalsa eltaimgeimjeu, 25eog-won tuja yuchi |script-title=ko:신생 개발사 엘타임게임즈, 25억원 투자 유치 |language=ko |trans-title=New development company L-Time Games attracts 2.5 billion won investment |last=전 |first=하나 |date=15 September 2011 |website=ZDNet Korea}} L-Time Games was acquired by and merged into Bluehole in January 2014.

Maui Games was a mobile game developer founded in 2013 by Woonghee Cho,{{cite web |url=http://www.zdnet.co.kr/news/news_view.asp?artice_id=20151016095009 |title=Beulluhol, mobail geim gaebalsa 'mau-igeimjeu' insu |script-title=ko:블루홀, 모바일 게임 개발사 '마우이게임즈' 인수 |language=ko |trans-title=Bluehole acquires Maui Games, a mobile game developer |last=박 |first=소연 |date=16 October 2015 |website=ZDNet Korea}} previously head of business development for Neowiz.{{cite web |last=Agrawal |first=Aditya |date=10 January 2024 |title=PUBG Corp Established To Handle All Things PlayerUnknown's Battlegrounds |url=https://www.techavenueedge.com/2024/01/pubg-corp-established-to-handle-all-things-playerunknowns-battlegrounds.html |website=Tech Avenue Edge}} Bluehole Studio announced on 16 January 2015 that they were acquiring the company, which was completed in October that year. At Bluehole's January 2017 shareholders' meeting, it was decided that Maui Games would enter liquidation, which was effective immediately.{{cite web |url=http://news.bizwatch.co.kr/article/market/2017/01/20/0017 |title='Goppi joeneun' beulluhol…gyeyeolsa mau-i 1nyeonman-e cheongsan' |script-title=ko:고삐 죄는' 블루홀…계열사 마우이 1년만에 청산 |language=ko |trans-title='The Redemption' Bluehole ... Affiliate Maui liquidated in one year |last=임 |first=일곤 |date=20 January 2017 |website=Business Watch}} Nine staff members of Maui Games, a fraction of that company's total employee count, were reemployed directly within Bluehole.

Pnix (formerly Bluehole Pnix) was a mobile game developer. The company was founded as Pnix Games in 2012.{{cite news|url=https://sports.khan.co.kr/article/201504221327143 |script-title=ko:블루홀, 피닉스게임즈·스콜 인수…모바일시장 전격 진출 |language=ko |last=Jo |first=Jinho |date=22 April 2015 |work=Sports Kyunghyang}} Bluehole announced that they had acquired Pnix Games, alongside Squall, on 22 April 2015. Pnix Games changed their corporate name to Bluehole Pnix in June 2016. Corporate name again changed to Pnix in 2018 after being a subsidiary of Krafton. In 2020 Pnix was merged with Delusion to form a RisingWings.

Squall (formerly Bluehole Squall) was a mobile game developer. The company was founded as Squall by Park Jin-seok, a founding member of Neowiz, in 2013.{{cite web |url=http://www.ddaily.co.kr/cloud/news/article.html?no=129540 |title=Beulluhol, mobailgeim sa-eob bongyeoghwa...gaebalsa 2gos insu |script-title=ko:블루홀, 모바일게임 사업 본격화...개발사 2곳 인수 |language=ko |trans-title=Bluehole, mobile game business in full swing ... Acquired two development companies |last=이 |first=대호 |date=22 April 2015 |website=Digital Daily}} Bluehole announced that they had acquired Squall, alongside Pnix Games, on 22 April 2015. Squall changed their corporate name to Bluehole Squall in March 2016. Corporate name again changed to Squall in 2018 after being a subsidiary of Krafton. It was shut down by Krafton after internal conflicts in 2020.{{Cite web |url=https://pulsenews.co.kr/view.php?year=2020&no=128299 |title=Krafton faces IPO setback due to friction in management |access-date=27 April 2020 |archive-date=5 July 2020 |archive-url=https://web.archive.org/web/20200705083440/https://pulsenews.co.kr/view.php?year=2020&no=128299 |url-status=dead }}

Red Sahara Studio was a mobile game developer headed by Lee Ji-hoon.{{cite web |url=http://www.zdnet.co.kr/news/news_view.asp?artice_id=20180312130158 |title=Beulluhol, 'ledeusahalaseutyudio' insu wanlyo |script-title=ko:블루홀, '레드사하라스튜디오' 인수 완료 |language=ko |trans-title=Bluehole acquires 'Red Sahara Studio' |last=남 |first=혁우 |date=12 March 2018 |website=ZDNet Korea}} On 12 March 2018, Bluehole completed the acquisition of the studio in a stock swap deal.{{cite news|url=https://www.hankyung.com/article/2018031268486 |script-title=ko:블루홀, 모바일게임 개발사 '레드사하라' 인수 마무리 |language=ko |last=Park |first=Huijin |date=12 March 2018 |work=The Korea Economic Daily}} Red Sahara was developing a mobile game based on TERA.

Delusion Studio was founded in April 2011 headed by Kang Moon-chul.{{cite news |url=https://sports.khan.co.kr/article/201806211125003 |script-title=ko:블루홀, '캐슬번' 개발사 '딜루젼스튜디오' 인수 |language=ko |last=Jo |first=Jinho |date=21 June 2018 |work=Sports Kyunghyang}} On 22 June 2018, Bluehole announced the acquisition of the studio.{{cite web |url=https://www.gamedeveloper.com/business/bluehole-to-acquire-mobile-dev-delusion-studio |title=Bluehole to acquire mobile dev Delusion Studio |first=Alissa |last=McAloon |date=22 June 2018 |website=Gamasutra}} Delusion developed mobile games such as Guardian Stone, Jellipo, House of Mice and, most notably, Castle Burn.{{cite web |url=https://www.gamesindustry.biz/articles/2018-06-22-bluehole-will-soon-acquire-delusion-studio |title=Bluehole to acquire Delusion Studio |first=Rebekah |last=Valentine |date=22 June 2018 |website=GamesIndustry.biz}}

In 2020 Delusion was merged with Pnix to form RisingWings.

En Masse Entertainment was Krafton's North American publishing arm. The company was established as Bluehole Interactive in June 2008. On 26 February 2010, the company announced that it had changed its corporate name to En Masse Entertainment.{{cite web |url=https://www.ign.com/articles/2010/02/26/en-masse-entertainment-debuts-as-new-mmo-game-company |title=En Masse Entertainment Debuts as New MMO Game Company |author=IGN Staff |date=25 February 2010 |website=IGN}}

In September 2020, En Masse Entertainment announced that it would be shutting down its offices after 10 years of service in the gaming industry,{{cite web|last=Kerr|first=Chris|title=Tera publisher En Masse is shutting down after over a decade|url=https://www.gamasutra.com/view/news/368414/Tera_publisher_En_Masse_is_shutting_down_after_over_a_decade.php|archive-url=https://web.archive.org/web/20200819020906/https://www.gamasutra.com/view/news/368414/Tera_publisher_En_Masse_is_shutting_down_after_over_a_decade.php|url-status=dead|archive-date=19 August 2020|access-date=27 September 2020|website=www.gamasutra.com|date=18 August 2020|language=en}} where it was decided that Krafton would be publishing TERA's Console version globally{{cite web|date=31 August 2020|title=TERA Announces Its Newest Global Publisher|url=https://www.sarumonin.com/news/tera-announces-its-newest-global-publisher/|access-date=27 September 2020|website=Sarumonin.com|language=en-US}} - taking over a self-publishing role, in place of En Masse Entertainment, whereas the PC version would be published by Gameforge.{{cite web|date=15 October 2020|title=Gameforge Takes Over Publishing Rights for TERA in the Americas|url=https://corporate.gameforge.com/press-release/gameforge-takes-over-publishing-rights-for-tera-in-the-americas/?lang=en}}

Krafton AI, headquartered in Seoul, is a research and development center focused on advancing deep learning technologies. Research directions include vision and animation, language models, voice synthesis, and reinforcement learning.

At CES 2025, Krafton introduced two deep learning-based game technologies developed in collaboration with NVIDIA: PUBG Ally and Smart Zoi.{{Cite web |last=Peters |first=Jay |date=2025-01-07 |title=Nvidia's AI NPCs are no longer chatbots — they're your new PUBG teammate |url=https://www.theverge.com/2025/1/6/24337949/nvidia-ace-ai-npcs-pubg-ally-teammate |access-date=2025-01-09 |website=The Verge |language=en}} Smart Zois are included in the early access version of InZOI, together with other deep learning-powered solutions such as the 3D printer, to generate 3D assets from images, and more.{{Cite web |last=Leclair |first=Elara |date=2025-03-29 |title=InZOI: Smart Zoi Function Explained |url=https://gamerant.com/inzoi-smart-zoi-function-explained/ |access-date=2025-04-12 |website=Game Rant |language=en}}{{Cite web |last=Grantham |first=Joe |date=2025-03-28 |title=InZOI: How To Use The 3D Printer |url=https://gamerant.com/inzoi-how-use-3d-printer-make-custom-objects/ |access-date=2025-04-12 |website=Game Rant |language=en}}

In April 2025, Krafton and NVIDIA discussed deepening their collaboration, with focus on Agentic AI and Embodied AI.{{Cite web |title=Tech in Asia - Connecting Asia's startup ecosystem |url=https://www.techinasia.com/news/pubg-maker-krafton-nvidia-partners-ai-game-characters |access-date=2025-04-12 |website=www.techinasia.com |language=en-US}}

Krafton supports various studios and companies worldwide, including:

• EF Games, Madrid, Spain{{Cite web |date=2024-10-09 |title=KRAFTON ANNOUNCES INVESTMENT AGREEMENT WITH EF GAMES, SUPPORTING DEVELOPMENT OF NEW PVP GAME {{!}} KRAFTON |url=https://www.krafton.com/en/news/press/krafton-announces-investment-agreement-with-ef-games-supporting-development-of-new-pvp-game/ |access-date=2024-10-14 |website=www.krafton.com |language=en-US}}
• Spoonlabs, Seoul, South Korea{{Cite web |date=2024-09-11 |title=KRAFTON INVESTS IN SHORT-FORM VIDEO PLATFORM 'SPOON LABS,' WITH FOCUS ON DRAMATIC CONTENT {{!}} KRAFTON |url=https://www.krafton.com/en/news/press/krafton-invests-in-short-form-video-platform-spoon-labs-with-focus-on-dramatic-content/ |access-date=2024-10-14 |website=www.krafton.com |language=en-US}}
• Wolf Haus Games, Montreal, Canada{{Cite web |last=Maas |first=Jennifer |date=2024-10-29 |title='Happy Hunting' Filmmaker Launches Wolf Haus Games With Funding From 'PUBG' Developer Krafton (EXCLUSIVE) |url=https://variety.com/2024/gaming/news/wolf-haus-games-studio-launches-pubg-video-game-developer-krafton-1236193193/ |access-date=2024-10-31 |website=Variety |language=en-US}}
• IMM Investment's India fund{{Cite web |last=Singh |first=Manish |date=2024-10-29 |title=Krafton backs IMM Investment's first India fund |url=https://techcrunch.com/2024/10/28/krafton-backs-imm-investments-maiden-india-fund/ |access-date=2024-10-31 |website=TechCrunch |language=en-US}}
• Ruckus Games, Frisco, Texas{{Cite web |title=Ruckus Games |url=https://www.ruckus-games.com/ |access-date=2024-11-30 |website=www.ruckus-games.com}}
• Cashfree, Bengaluru, India{{Cite web |last=Singh |first=Manish |date=2025-02-05 |title=Krafton leads Cashfree's $53M funding at $700M valuation |url=https://techcrunch.com/2025/02/04/krafton-leads-cashfrees-53m-funding-at-700m-valuation/?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAKVtR2reTjfSpVLW_jb1j2zg1ocQ5TAJ0_ZNyS7jeObewMcWNyzP1Im7zXLCp5pQ6f8UFl_oHbo3B8aRtjFL4n-K8pFbmB2xmf4EeItajU1YWhm3LCjSYwCs4Dyr22zG1Y5jEdCg4C9sXtrtvSpBInOhCODnBkojej_o5l0s25nA |access-date=2025-02-08 |website=TechCrunch |language=en-US}}
• Nautilus Mobile, Pune, India{{Cite web |last=Singh |first=Jagmeet |date=2025-03-28 |title=Krafton acquires controlling stake in Indian gaming studio Nautilus Mobile for $14M |url=https://techcrunch.com/2025/03/27/krafton-acquires-controlling-stake-in-indian-gaming-studio-nautilus-mobile-for-14m/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAChfBMtvepjxDBTZdp__GCM0rp2BuoIAmSh9sF1mZHFr_mAyWWC5qmcjVejv_Stnd29Aqzw9WQYGvbPLsFtNIoGzhzb5nyYwcIgwIDOxkE6Jt9N7phi7WaU7mPXBedtnDeQx5O6Fl20CLnf_smkuXjWKEoeMDyNpMH3v8iKm5tGv |access-date=2025-03-31 |website=TechCrunch |language=en-US}}

In April 2025, Krafton announced Blue Ocean Games, a $30 million venture capital fund.{{Cite web |last=Takahashi |first=Dean |date=2025-04-22 |title=Blue Ocean Games announces $30M fund to invest in indie games via game challenge |url=https://venturebeat.com/games/blue-ocean-games-announces-30m-fund-to-invest-in-indie-games-via-game-challenge-contest/ |access-date=2025-04-23 |website=VentureBeat |language=en-US}} The mission of the fund is to support about 100 indie game developers over three years.

• Lee Gi-mun. Krafton Way. Gimm-Young Publishers, 2021. {{ISBN|978-89-349-8683-6}}

{{reflist}}

• {{Official website|https://www.krafton.com/en/index.html}}

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