Japan’s game developer SNK invests $3 million in Neptune ahead of its own Kosdaq IPO

2018.03.30 14:26:27 | 2018.03.30 15:39:12

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SNK Corporation, a Japanese video game hardware and software company, said on Thursday that it has made an equity investment worth 3 billion won ($2.82 million) in Korean game developer Neptune Corp. as it preps its own debut on the Kosdaq market in the second half.

SNK earned fame in the global game market for its popular fighting game series such as ‘The King of Fighters’ and ‘Fatal Fury.’

Kosdaq-listed Neptune founded by former NHN Hangame CEO Chung Wook drew attention for its early investment into Bluehole Studio, the developer of the global hit game PlayerUnknown`s Battlegrounds (PUBG). Shares of Neptune closed Friday up 0.35 percent at 14,400 won.

Having established SNK Interactive in Korea last year, the Japanese company is poised for business expansion in Korea. It is readying to become the first Japanese game company to go public on the Kosdaq market.

An SNK official said, "the establishment of a local entity represents our perception that Korea is a very important game market and we will continue investment in promising game developers in Korea.”

SNK Corporation is the successor to the Shin Nihon Kikaku Corporation founded in 1978. SNK is most recognized as the creator of the Neo Geo family of arcade, home, and handheld game consoles, beginning in 1990.

SNK’s pre-IPO market capitalization is estimated to reach around 1 trillion won, according to market watchers.

By Lee Sun-hee and Minu Kim

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