Webzen disclosed on the 12th that, on a consolidation basis, it posted 39.3 billion won in revenue and 5.3 billion won in operating profit in the first quarter of this year.
Revenue fell 5.2% from the same period last year, and operating profit dropped 39.6%. However, net profit jumped 596.2% due to a base effect compared with the temporary downturn in the first quarter of last year.
It said revenue in Korea declined due to a slump in the domestic game market, but overseas revenue held steady. Overseas revenue accounted for 51% in the first quarter, surpassing domestic revenue.
Webzen plans to seek opportunities for a revenue rebound in overseas markets while expanding investment in new game development to secure growth drivers. The collection RPG Terbis, which is being developed in-house, is building recognition by being exhibited at Comiket in Japan and at game shows at home and abroad.
Project D1, based on a popular webtoon, is also under development. It reflects the exploration, city management, and defense structure of the original work, "Became the Tyrant of a Defense Game," and implements the setting and characters with dot-based 2.5D graphics. The specialized development subsidiary is developing several games, including a new title using the MU intellectual property (IP).
Webzen CEO Kim Tae-young said, "We are continuing internal and external investment in new game development and working to grow the company despite uncertain market conditions," adding, "Although the rapidly changing environment including AI adoption, internal and external risk management, and the economic downturn presents a tough backdrop, we will spare no effort to regain market share and enhance shareholder value based on a solid financial position."