Webzen disclosed on the 12th that, on a consolidation basis, it posted revenue of 39.3 billion won and operating profit of 5.3 billion won in the first quarter of this year.
Revenue fell 5.2% from the same period a year earlier, and operating profit decreased 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 domestic revenue declined due to the slump in Korea's game market, but overseas revenue was maintained. In the first quarter, the share of overseas revenue was 51%, surpassing domestic revenue.
Webzen plans to secure growth engines by seeking a rebound in revenue in overseas markets while expanding investment in new title development. The collectible role-playing game (RPG) Therbis, which it is developing in-house, is raising its profile by being exhibited at Comic Market (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, "I 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).
Gen.Kim Tae-young, CEO of Webzen, 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, such as AI adoption, internal and external risk management, and an economic downturn, presents difficult conditions, we will spare no effort to restore market share and enhance shareholder value based on solid finances."