Wemade finalized its dispute over unpaid royalties for the Legend of Mir 2 IP against China's Kingnet with a settlement agreement. Wemade said it received a settlement payment of about 43 billion won (198,646,893 yuan) through the deal.
The dispute began when Kingnet's subsidiary "Zhejiang Huanyu" failed to pay royalties for "Namwol Jeon-gi," a game based on the Legend of Mir 2 IP that it has serviced in China since 2016.
Wemade won successive victories in international arbitration and Chinese court litigation, securing recognition of its rights as the original copyright holder and obtaining liability for damages due to unpaid royalties. It then proceeded with the process of enforcing the damages.
Afterward, to resolve risks from a prolonged dispute, the two sides agreed to withdraw all arbitration and lawsuits related to "Namwol Jeon-gi" that were underway in Korea, China, and Singapore, in exchange for payment of the settlement amount.
Separately, on Mar. 21, the International Court of Arbitration of the International Chamber of Commerce dismissed in full Zhejiang Huanyu's 2023 claims against Wemade seeking invalidation of the license agreement and damages.
A Wemade official said, "This settlement agreement is a meaningful case that held illegal copyright infringement accountable to the end and restored the rights of the original copyright holder," adding, "we will continue to actively protect major intellectual property, including 'Legend of Mir 2,' and further enhance its value."