By Sagar V. Mankar As South Korean gaming powerhouse Nexon approaches its 30th anniversary in December 2024, the company is setting ambitious goals that showcase just how far it’s come from its humble beginnings. What started in a small office in Yeoksam-dong has grown into a gaming giant that now represents 18% of Korea’s entire gaming industry sales.
The company’s journey began in 1994 when the late Kim Jung-ju founded Nexon and released its groundbreaking first game, “Nexus: The Kingdom of the Winds,” in 1996. Now, in an exciting development for longtime fans, Nexon has announced plans to develop a sequel to this pioneering title, demonstrating its commitment to honoring its roots while pushing forward into the future.
During the recent “NEXT ON” media event, Nexon’s co-CEOs Kang Dae-hyun and Kim Jung-wook unveiled an ambitious target: reaching 7 trillion won ($5.1 billion) in annual revenue by 2027. This goal seems increasingly achievable, especially considering Nexon’s strong performance even during industry downturns that have affected competitors like NCSoft Corp.
The company’s success in Japan particularly stands out, with record-breaking sales of 423.4 billion yen ($2.8 billion) in 2023. This momentum has continued into 2024, with a 6% year-over-year increase in the first six months, largely driven by the popularity of games like “Dungeon & Fighter Mobile” in the Chinese market.
Looking ahead, Nexon has revealed plans for 12 new intellectual property (IP) titles, scheduled for release from next year onward. These new games will build upon the company’s three decades of development expertise while introducing fresh experiences to players worldwide. Popular franchises like “MapleStory,” “Dungeon & Fighter,” and “Mabinogi” will see new iterations, expanding beyond gaming into entertainment sectors such as webtoons and music.
To streamline development, Nexon has implemented an innovative “Big and Little” strategy. This approach separates projects by scale, allowing the company to balance major releases like the upcoming zombie apocalypse game “Last Paradise” with smaller, innovative projects developed through Mintrocket, their recently independent subsidiary.
The company is also strengthening its global presence through new IPs like “ARC Raiders” and “Project RX,” while expanding its publishing portfolio. A notable example is their oversight of “Supervibe,” developed by U.S.-based Theorycraft Games, for Korean and Japanese markets.
Gaming enthusiasts can experience Nexon’s latest games firsthand at the ongoing G-Star 2024 gaming exhibition. As the main sponsor, Nexon showcased five new games across a massive 300-booth exhibit.