Nexon Korea additionally supported its subsidiary DevCAT, which is developing the mobile game "Mabinogi Mobile," with 11 billion won in operating funds. Thus, the total amount borrowed by DevCAT from Nexon reached 104 billion won.
Nexon reported on the 3rd that it extended a lending of 58 billion won to DevCAT through a board resolution on the 24th of last month, with an interest rate of 4.6% and a balloon payment at maturity. This amount includes the extension of the 47 billion won lending announced last October.
Following the borrowings of 40 billion won in 2021 and 32 billion won in 2023, DevCAT borrowed an additional 32 billion won four times last year. This additional lending brought DevCAT's total borrowing fund to 104 billion won.
Currently, DevCAT is developing "Mabinogi Mobile," the mobile version of one of Nexon's representative works, the PC MMORPG "Mabinogi." This game has been introduced several times at the G-Star game show since it was first unveiled in 2017, but its release schedule has been continually delayed.
Kang Dae-hyun, co-CEO of Nexon Korea, noted at the vision presentation held last October that "the development of Mabinogi Mobile has entered its final stages and is expected to be presented to users in the first half of next year."