Namgoong Hoon Acquires 1% Stake in Kakao Games: "Gaming Industry Will Grow Again"
Growth Expected in Hardcore and Casual Games Amid Decline Concerns
Unique Strengths in Shareholder Structure with Line Yahoo, Kakao, and Tencent
Namgoong Hoon, CEO of Eyes Entertainment, announced on the 24th that he has purchased shares of Kakao Games, expressing optimism for a renewed leap in the gaming industry.
On this day, Namgoong disclosed via social media (SNS) that he acquired a 1% stake in Kakao Games. He stated, "Although the stock market seems to perceive the gaming industry as entering a period of decline, I believe it will once again grow in two directions."
He identified one direction as the growth of 'hardcore' games, where the boundary between reality and the virtual world is increasingly blurred due to advanced technology integration. The other direction, according to him, is the expansion of 'casual' games that, powered by artificial intelligence (AI), allow anyone to easily enjoy or directly create them.
Namgoong also predicted that Kakao Games’ changed shareholder structure would generate synergy. He said, "With Line becoming the largest shareholder through Kakao’s stake disposal, along with Kakao and Tencent remaining as major shareholders, Kakao Games’ unique structure will once again present it with a historic opportunity for growth based on its distinctive strengths."
In June, Kakao Games welcomed LAAA Investment, a special purpose company (SPC) funded by Line Yahoo, as its largest shareholder. Kakao is the second-largest shareholder, holding a 14.68% stake. Chinese company Tencent is also one of the major shareholders.
Meanwhile, Namgoong previously served as CEO of Kakao Games and led its heyday. After serving as CEO of Kakao in 2022, he established the AI content company Eyes Entertainment in 2023.
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He previously purchased shares of Joycity and also secured a 1% stake in Wemade Play. Regarding Joycity, he explained that he bought the shares as a gesture of respect for the high-quality work after personally enjoying its new title "Imjin War: Joseon Strikes Back." For Wemade Play, he stated that he purchased the shares because he judged that both the KOSDAQ and gaming stocks were excessively undervalued.
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