Webzen stock gains on launch of “MU Origin 2” in China

2021.04.12 14:11:52 | 2021.04.12 15:41:58

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South Korea’s game publisher Webzen Inc. has been boosted by the launch of “MU Origin 2” in China last Friday amid expectations on Beijing’s easing in restrictions on Korean games.

Shares of Kosdaq-listed Webzen soared 21.76 percent to finish at 48,400 won ($43.06) last Friday following the launch of “MU Origin 2” developed by Chinese gaming giant Tencent based on Webzen’s MU intellectual property (IP). On Monday, Webzen shares fell 8.26 percent to end at 44,400 won.

“MU Origin 2” is the sequel of Webzen’s massively multiplayer online role-playing game (MMORPG) “MU Origin” that became an instant hit since its release in 2014 in China by recording 35 billion won in monthly revenue. “MU Origin 2” was named the most anticipated mobile game in 2021 by the Golden Plume Award, the most prestigious gaming award in China.

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Korean game titles had not received a license in China since March 2017 amid Beijing’s economic retaliation against Seoul over the deployment of an U.S. missile defense system in South Korea until December last year.

A source from the game industry said the launch of the Korean IP-based game in China is perceived as a sign of the country’s easing restriction on Korean products.

By Lee Dong-in and Choi Mira

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