Nexon

File:Nexon_(1994-2009).svg

Nexon was established in Seoul, South Korea, on December 26, 1994. It developed and published its first title, Nexus: The Kingdom of the Winds, in 1996, which the company continues to service.{{Cite news |author=Einhorn |first=Bruce |title=What is Nexus? |url=http://www.nexusatlas.com/what.php |access-date=December 21, 2014 |publisher=Nexus Atlas}} Numerous other games followed, such as Dark Ages: Online Roleplaying, Elemental Saga, QuizQuiz, KartRider, Elancia, and Shattered Galaxy;{{cite web|archive-url=https://web.archive.org/web/20120425161216/http://www.koreagamewatch.com/wp/?page_id=1008 |archive-date=April 25, 2012 |url=http://www.koreagamewatch.com/wp/?page_id=1008 |title=Nexon Holdings history |publisher=KoreanGameWatch.com |access-date=October 5, 2011 |url-status=usurped }} some of which are maintained by a company spun off of Nexon, Kru Interactive.{{cite web|archive-url=https://web.archive.org/web/20120303151652/http://www.kru.com/profile.html |archive-date=March 3, 2012 |url=http://www.kru.com/profile.html |title=Kru Interactive Profile |publisher=Kru Interactive |access-date=June 28, 2011 |url-status=dead }}

Image:Wizet Logo.png

In April 2001, Wizet, a game development company, was established in Seoul, South Korea.{{cite web |title=About Us |url=http://www.wizet.com:80/eng_company.htm |website=Wizet.com |access-date=12 April 2025 |archive-url=https://web.archive.org/web/20020607053330/http://www.wizet.com:80/eng_company.htm |archive-date=7 June 2002 |url-status=dead}} The company was initially led by Seung-chan Lee, who was previously a lead developer for Nexon's QuizQuiz.{{cite web |title=MapleStory Interview |url=https://www.4gamer.net/specials/maplestory/maplestory.html |website=4Gamer.net |publisher=4Gamer.net |access-date=12 April 2025 |language=Japanese}} Wizet would develop and eventually release MapleStory for Korea in April 2003. Shortly after its release, the game reached a milestone of 100,000 concurrent users and 2 million registered users, according to the company's now-defunct website.{{cite web |title=History |url=http://www.wizet.com:80/japanese/about_wizet/history.html |website=Wizet.com |access-date=12 April 2025 |archive-url=https://web.archive.org/web/20041102162613/http://www.wizet.com:80/japanese/about_wizet/history.html |archive-date=2 November 2004 |language=Japanese |url-status=dead}} Wizet would launch MapleStory in Japan later that year with similar claims of success. In 2004, Nexon acquired Wizet{{cite web |title=Nexon acquires U.S. game developer Big Huge Game |url=https://www.donga.com/en/article/all/20160311/527432/1 |website=The Dong-A Ilbo |access-date=10 April 2025}} and since then has maintained active development and publishing of MapleStory.{{cite web |title=Popular Games In Service |url=https://www.nexon.co.jp/en/products/#popular-games-in-service |website=Nexon Investor Relations |access-date=12 April 2025}}

Nexon is also the developer of Dungeon & Fighter, through its wholly owned subsidiary, Neople.{{Cite news| url =https://www.forbes.com/sites/forbesasia/2013/04/24/what-next-for-korean-online-gaming-company-nexon/|title=What Next for Kim Jung-Ju and Korean Online Gaming Company Nexon?|author=Forbes Staff |work=Forbes |date =April 24, 2013}}{{Cite news| url =https://www.bloomberg.com/news/2014-05-27/tencent-1-billion-game-shows-global-hunt-for-mobile-hits.html|title=Tencent $1 Billion Game Shows Global Hunt for Mobile Hits|author=Lulu Yilun Chen and Jungah Lee |publisher=Bloomberg News |date =May 28, 2014}} Dungeon & Fighter is one of the most popular free-to-play online PC games in China.{{Cite news| url =http://www.china.org.cn/top10/2014-02/07/content_31286185_8.htm|title=Top 10 free online games with highest revenues|author= Xu Lin |publisher=China.org.cn. |date =February 7, 2014}}

Nexon went public on the Tokyo Stock Exchange on December 14, 2011, in an initial public offering, the largest in Japan for 2011 and the second largest by a technological company for 2011 worldwide.{{Cite news| url =http://www.china.org.cn/top10/2014-02/07/content_31286185_8.htm|title=Despite Setbacks Nexon Sets $1.2 billion IPO for Dec. 14|author= Kyt Dotson |publisher=SiliconANGLE |date =December 7, 2014}} In April 2013, the programmer "DrUnKeN ChEeTaH" was sued by Nexon America for operating GameAnarchy, a popular subscription-based cheat provider for Combat Arms. Nexon was awarded $1.4 million in damages.{{Cite news|url=https://docs.justia.com/cases/federal/district-courts/california/cacdce/2:2012cv02083/526488/71/|title=Nexon America Inc et al v. Gameanarchy LLC et al}}

On March 9, 2016, Nexon acquired Big Huge Games, a mobile game developer in Maryland.{{cite web |date=March 10, 2016 |title=Nexon acquires DomiNations developer Big Huge Games |url=https://venturebeat.com/2016/03/09/nexon-acquires-dominations-developer-big-huge-games/ |access-date=March 11, 2016 |website=VentureBeat}} In October 2018, a labor union was established at Nexon.{{Cite web |last=Jung |first=Se-jin |date=2018-09-05 |title=Nexon sets up the first labor union among Korean game companies |url=https://www.koreaittimes.com/news/articleView.html?idxno=85706 |access-date=2023-02-26 |website=The Korea IT Times |language=ko}} On January 3, 2019, The Korea Economic Daily reported that Nexon founder Kim Jung-ju and associates had put their 98.64 percent stake up for sale.{{cite web |title=Nexon founder to sell controlling stake in gaming company's holding... |url=https://www.reuters.com/article/us-nexon-sale/nexon-founder-to-sell-controlling-stake-in-gaming-companys-holding-firm-korea-economic-daily-idUSKCN1OX010 |website=Reuters |language=en |date=3 January 2019}} However, on July 8, 2019, Reuters reported that the plan was abandoned.{{cite web |title=Nexon founder scraps what could have been $16 billion gaming deal:... |url=https://www.reuters.com/article/us-nexon-sale/nexon-founder-scraps-what-could-have-been-16-billion-gaming-deal-sources-idUSKCN1U30WU |website=Reuters |language=en |date=9 July 2019}} On November 25, 2019, The Lego Group announced the acquisition of Bricklink, a Lego fan community from Nexon's parent company NXC,{{Cite web |title=Nexon founder sells BrickLink to LEGO in streamlining move after botched gaming deal - Pulse by Maeil Business News Korea |url=https://pulsenews.co.kr/view.php?year=2019&no=994484 |access-date=2023-05-20 |website=pulsenews.co.kr |language=ko}} for an unknown price, which is expected to finish before the end of 2019.{{Cite web|url=https://www.lego.com/en-us/aboutus/news/2019/november/lego-bricklink/|title=The Lego Group acquires bricklink, the world's largest online LEGO fan community and marketplace to strengthen ties with adult fans|date=November 25, 2019|access-date=November 25, 2019}}

On June 2, 2020, Nexon announced plans to invest $1.5 billion in listed entertainment companies.{{Cite web |last=Leung |first=Ruby |date=June 2, 2020 |title=Korean Gaming Giant Nexon To Spend $1.5 Billion On Global Entertainment Companies |url=https://www.forbes.com/sites/rubyleung/2020/06/02/korean-gaming-giant-nexon-to-spend-15-billion-on-global-entertainment-companies/ |access-date=2020-06-06 |website=Forbes |language=en}} By March 2021, Nexon had deployed $874 million of that amount on investments into Hasbro, Bandai Namco Holdings, Konami, and Sega Sammy Holdings. Nexon stated that they had no interest in outright acquiring or taking activist investor positions in these companies.{{Cite web|date=March 28, 2021|title=Nexon invests $874 million in Hasbro, Bandai Namco, Konami, and Sega Sammy|url=https://venturebeat.com/2021/03/28/nexon-invests-874-million-in-hasbro-bandai-namco-konami-and-sega-sammy|access-date=March 29, 2021|website=VentureBeat}}

In a 2021 earnings call, Nexon CEO Owen Mahoney declined to offer hard launch targets for highly anticipated games.{{Cite web |last=Royce |first=Bree |date=August 13, 2021 |title=Nexon CEO blasts crunch and the 'charade of launch timing' |url=https://massivelyop.com/2021/08/13/nexon-ceo-blasts-crunch-and-the-charade-of-launch-timing/ |access-date=2023-02-26 |website=Massively Overpowered |language=en-US}} In February 2021, Nexon announced significant pay increases for new and existing development talent in the company's Korean studios.{{Cite web |date=2021-02-01 |title=Nexon offers all its employees a big pay rise |url=https://koreajoongangdaily.joins.com/2021/02/01/business/industry/nexon/20210201190907636.html |access-date=2022-09-30 |website=Korea JoongAng Daily |language=en}} In July 2021, Nexon announced the formation of Nexon Film and Television. The division is based in Los Angeles.{{cite web |last1=Hayes |first1=Dade |title=Asian Video Game Firm Nexon Launching LA-Based Film And TV Arm Guided By Disney And Activision Blizzard Vet Nick Van Dyk |url=https://deadline.com/2021/07/video-game-nexon-film-tv-disney-activision-blizzard-nick-van-dyk-1234793007/ |website=Deadline |date=15 July 2021}} In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake.{{cite web |last=Vlessing |first=Etan |date=January 5, 2022 |title=Joe and Anthony Russo's AGBO Sells $400M Stake to Nexon |url=https://www.hollywoodreporter.com/business/business-news/joe-and-anthony-russos-agbo-sells-400m-stake-to-nexon-1235070079/ |access-date=January 5, 2022 |work=The Hollywood Reporter}} In February 2022, it was reported by Bloomberg that Saudi Arabian-based Public Investment Fund had purchased just over a 5% stake in Capcom and Nexon, reportedly worth US$883 million, while American investment company KKR acquired an 8.5% stake.{{Cite news |date=2022-02-03 |title=Saudi Wealth Fund Boosts Gaming Bets With Capcom, Nexon Stakes |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-02-03/saudi-wealth-fund-reveals-latest-video-game-bet-with-nexon-stake |access-date=2023-05-26}}

In May 2022, Nexon announced the launch of Mintrocket, a sub-brand and division of Nexon that specializes on games "focusing on the essence of fun".{{cite news |date=2022-04-05 |title=Nexon launches game sub-brand 'Mintrocket' on the 3rd|url=https://indiegame.com/en/archives/5675 |language=en |work=indiegame.com |access-date=2023-07-15}} Its first game, Dave the Diver, was a commercial hit, selling one million copies within ten days of launch.{{cite web |last1=Koselke |first1=Anna |title=Dave the Diver does swimmingly on Steam, selling over a million copies |url=https://www.pcgamesn.com/dave-the-diver/sales |website=PCGamesN |date=12 July 2023}} According to their own report, the Korean region earned the company the most in Q1–Q2 2022.{{Cite web |title=Nexon FY22 Q2 earnings presentation |url=https://pdf.irpocket.com/C3659/BUJq/rTps/RMch.pdf |access-date=Sep 20, 2022 |website=Nexon IR website}} In late 2023, Nexon announced that CEO Owen Mahoney will be succeeded by Nexon Korea CEO Junghun Lee in 2024.{{Cite news |last=Seal |first=Dean |title=Nexon Taps Korea Unit's Chief to Succeed Departing CEO |url=https://www.wsj.com/business/earnings/nexon-taps-korea-units-chief-to-succeed-departing-ceo-d799e126 |url-access=subscription |access-date=2024-02-28 |work=The Wall Street Journal |language=en-US}} Nexon announced the development of The Kingdom of the Winds 2 on October 30, 2024, the sequel to its first-ever release 28 years ago.{{cite web |url=https://koreajoongangdaily.joins.com/news/2024-10-30/business/industry/Nexon-announces-development-of-longawaited-sequel-The-Kingdom-of-the-Winds-2/2167015 |title=Nexon announces development of long-awaited sequel, The Kingdom of the Winds 2 |date=2024|website=Korea JoongAng }} Nexon made Mintrocket a wholly owned subsidiary in September 2024.{{cite web |last=Blake |first=Vikki |date=September 11, 2024 |title=Nexon establishes Dave the Diver developer Mintrocket as a new wholly owned subsidiary corporation |url=https://www.gamesindustry.biz/nexon-establishes-dave-the-diver-developer-mintrocket-as-a-new-wholly-owned-subsidiary-corporation |access-date=September 11, 2024 |work=GamesIndustry.biz}}

In 2018, the company was fined {{Currency|939 million|KRW|passthrough=yes}} (about {{Currency|717,000|USD|passthrough=yes|linked=no}}) for giving players false probability information surrounding microtransactions gambling for loot boxes in Sudden Attack.{{Cite web |last=Park |first=Han-Shin |date=January 3, 2024 |editor-last=Kim |editor-first=Yeonhee |title=Nexon fined over MapleStory in-game item selling |url=https://www.kedglobal.com/korean-games/newsView/ked202401030012 |access-date=2024-12-22 |website=The Korea Economic Daily |language=en}} Nexon Korea stated that the phrase "random provision" was to suggest the items would be provided at random, not that all of them have equal odds.{{Cite news |last=Prescott |first=Shaun |date=2018-04-10 |title=Nexon has been fined by the Korean Fair Trade Commission over loot boxes |url=https://www.pcgamer.com/nexon-has-been-fined-by-the-korean-fair-trade-commission-over-loot-boxes/ |access-date=2024-12-22 |work=PC Gamer |language=en}}

In early 2023, Nexon filed a cease and desist letter and a lawsuit against video game studio Ironmace, alleging that they stole files and ideas from Nexon's canceled project called "P3" and used them in their game called Dark and Darker.{{Cite web |date=2023-03-27 |title=Dark and Darker removed from Steam due to ongoing Ironmace/Nexon dispute |url=https://www.gamesindustry.biz/dark-and-darker-removed-from-steam-due-to-ongoing-ironmacenexon-dispute |access-date=2023-03-27 |website=Games Industry.biz |language=en-US}}{{Cite web |last=Brown |first=Andy |date=2023-03-14 |title='Dark And Darker' developer's office searched by police over allegations of code theft |url=https://www.nme.com/news/gaming-news/dark-and-darker-developers-office-searched-by-police-over-allegations-of-code-theft-3410189 |access-date=2023-04-15 |website=NME |language=en-GB}} Nine "P3" project members had left the company and joined Ironmace, which was started soon after the project's cancellation in 2021.{{Cite news |last=Kennedy |first=Victoria |date=2023-03-27 |title=Dark and Darker developer uses ChatGPT AI tool in bid to prove it hasn't infringed copyright |url=https://www.eurogamer.net/dark-and-darker-developer-uses-chatgpt-ai-tool-in-bid-to-prove-it-hasnt-infringed-copyright-1 |access-date=2023-04-15 |work=Eurogamer.net |language=en-gb}}{{Cite news |last=Andy Chalk published |date=2023-03-08 |title=Dark and Darker studio raided by police following 'stolen' code allegations |url=https://www.pcgamer.com/dark-and-darker-studio-raided-by-police-following-stolen-code-allegations/ |access-date=2023-04-15 |work=PC Gamer |language=en}} According to Ironmace, it is one of these former Nexon employees (who is alleged to have leaked the assets) who is the sued party, and not the company itself. A police complaint filed by Nexon reportedly led to a police raid of Ironmace's offices in March 2023. After the game was removed from Steam, Ironmace distributed it via BitTorrent, made available on the game's Discord server. Nexon also filed a copyright infringement lawsuit in the United States on April 20, 2023.{{Cite news |date=2023-04-17 |title=Dark and Darker developer sued by Nexon for "copyright infringement" |url=https://www.eurogamer.net/dark-and-darker-developer-sued-by-nexon-for-copyright-infringement |access-date=2023-04-29 |work=Eurogamer.net |language=en-gb}} This lawsuit was dismissed on August 17, 2023.{{Cite web |title=Judgment by Court – #58 in Nexon Korea Corporation v. Ironmace Co Ltd (W.D. Wash., 2:23-cv-00576) – CourtListener.com |url=https://www.courtlistener.com/docket/67193019/58/nexon-korea-corporation-v-ironmace-co-ltd/ |access-date=2024-07-05 |website=CourtListener |language=en-us}} The game is subsequently once again available on Steam.{{Cite news |author1=Tyler Wilde |date=2024-06-07 |title=Dark and Darker is back on Steam |url=https://www.pcgamer.com/games/rpg/dark-and-darker-steam-return/ |access-date=2024-07-05 |work=PC Gamer |language=en}}

In 2021, a MapleStory user, Kim, sued Nexon for its failure to provide detailed probability information. The Korea Fair Trade Commission reported that Nexon, for a decade, has lowered the probability of players drawing certain character equipment when spending real cash on Cubes ("and setting the probability of winning some Cubes to zero") in MapleStory.{{Cite web |last1=Lee |first1=Jae-eun |last2=Hwang |first2=Gyurak |date=2024-11-29 |title=Nexon to refund MapleStory player for withholding information on probabilistic items |url=https://www.chosun.com/english/industry-en/2024/11/29/Z6XOM7AR4REEHIYYIWC3L5MRTE/ |access-date=2024-12-22 |website=The Chosun Daily |language=en}} The Supreme Court ended up ruling in favor of Kim; they ordered Nexon to give back five percent of the spent money to Kim.{{Cite web |last=Hyeong-woo |first=Kan |date=2024-11-29 |title=Nexon partly loses MapleStory loot box lawsuit |url=https://www.koreaherald.com/article/10011997 |access-date=2024-12-22 |website=The Korea Herald |language=en}} Nexon then accepted the Korea Consumer Agency's recommendation to compensate the damaged 800,000 users; the amount of compensated in-game cash equaled to about {{Currency|21.9 billion|KRW|passthrough=yes|linked=no}} ({{Currency|19.1 million|USD|passthrough=yes|linked=no}}). In 2024, the company was fined by the Korea Fair Trade Commission for a record-breaking {{Currency|11.6 billion|KRW|passthrough=yes|linked=no}} ({{Currency|8.9 million|USD|passthrough=yes|linked=no}}) fee for misleading players over microtransactions in MapleStory, which violated South Korea's Act on Consumer Protection in Electronic Commerce.{{cite magazine |last=Cryer |first=Hirun |date=January 4, 2024 |title=MMO dev fined record-breaking $9 million fee for misleading players over microtransactions |url=https://www.gamesradar.com/mmo-dev-fined-record-breaking-dollar9-million-fee-for-misleading-players-over-microtransactions/ |magazine=Games Radar}}

Nexon maintains various offices around the world that engage in the publishing and/or development of Nexon's games. Each region's local consolidated subsidiaries are independently managed and are responsible for developing their own strategy for their products and services.{{cite web |title=Consolidated Financial Results for the Fiscal Year Ended December 31, 2017 |url=http://pdf.irpocket.com/C3659/hHid/FU1k/qzLK.pdf |access-date=July 17, 2018 |website=NEXON Investor Relations |page=7}}

As of August 2022, Nexon Virtual Worlds' most valuable entertainment franchises are:

Nexon began as a developer and publisher of PC games. However, in 2020, the company announced plans to begin releasing both console and mobile versions of key franchises.

In 2017, Nexon previously published LawBreakers for PlayStation 4 from Boss Key Productions. In July 2020, the South Korean launch of The Kingdom of the Winds: Yeon for mobile was the top-grossing title on the Apple App Store and #2 on Google Play, 24 years after the launch of the initial The Kingdom of the Winds game in 1996. In August 2020, the release of Dungeon & Fighter Mobile in China generated more than 60 million pre-registrations before it was delayed.{{Cite web |last=Lee |first=Seung-Woo |date=April 4, 2022 |title=Nexon's new game beats Lineage to top app stores list |url=https://www.kedglobal.com/korean-games/newsView/ked202204040003 |access-date=2024-12-22 |website=The Korea Economic Daily |language=en}}

Nexon operates in over 190 countries, but revenue and consumer engagement are concentrated in Asian markets. In 2021, the company announced a series of games in development for global release – with a focus on Europe and North America.{{Cite web |last1=Nussey |first1=Sam |last2=Chmielewski |first2=Dawn |date=2022-06-13 |title=Japan game giant Nexon plots western expansion |url=https://www.euronews.com/next/2022/06/13/nexon-strategy |access-date=2023-02-26 |website=Euronews |language=en}} Mahoney stated that they hoped to launch big titles with a 'Western sensibility', such as the game ARC Raiders from Embark Studios. In March 2022, Dungeon & Fighter Mobile was released in South Korea, and later in China in May 2022.{{Cite web |last=Kim |first=Eun-jin |date=2024-12-19 |title=Nexon's Dungeon Fighter Online Mobile Hits $1.06 Billion in China, Leading Global Game Exports |url=https://www.businesskorea.co.kr/news/articleView.html?idxno=232199 |access-date=2024-12-22 |website=Businesskorea |language=ko}} It has announced that it will be publishing ARC Raiders, The First Descendant, Project AK, and KartRider: Drift for both PlayStation 4 and Xbox in around 2025.{{Cite web |last1=Huxley |first1=Ben |last2=Saunders |first2=Toby |date=19 December 2024 |title=Video game release dates 2024 |url=https://www.radiotimes.com/technology/gaming/video-game-release-dates/ |access-date=2024-12-22 |website=Radio Times |language=en-GB}}{{Cite web |last=Romano |first=Sal |date=2024-11-12 |title=ARC Raiders 'Gameplay Reveal' trailer |url=https://www.gematsu.com/2024/11/arc-raiders-gameplay-reveal-trailer |access-date=2024-12-22 |website=Gematsu |language=en-US}}

• Nexon Computer Museum

{{Reflist}}

• {{Official website|https://www.nexon.com}}

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{{Nikkei 225}}

{{DEFAULTSORT:Nexon}}

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