WEBZEN SELLS CHINA RIGHTS TO SOUL OF THE ULTIMATE NATION FOR $13 MILLION TO THE 9
The Largest Export Transaction in Korea’s Online Game History
22% Royalty Based on Revenues for 3 years after Starting Service
December 13, 2005 (SEOUL, Korea) – Export contract price for a Korean online game has finally passed the $10 million mark. Webzen, Inc. (www.webzen.com) today announced that it has signed an export contract for its much-anticipated Soul of the Ultimate Nation with China’s premier game publisher The 9 (www.the9.com).
The value of this contract is the largest single export transaction in Korea’s online game history. With the included minimum annual guarantee, the total contract price comes to $13 million, and in addition, after commencement of service in China, 22% royalty based on revenues will be paid to Webzen, Inc. for 3 years.
“We’re quite pleased with this first deal, which is the result of a whole lot of investment and effort,” said Nam Ju Kim, chief executive officer of Webzen, Inc. “Along with China, we have also been discussing Soul of the Ultimate Nation service with companies in Europe and other areas of the world. We are confident that we will continue to get great results.” He added, “And with this contract, Soul of the Ultimate Nation’s value and interest will increase in the global market.”
Zhu Jun, chief executive officer of The 9, said, “The signing of this contract has taken the relationship between the two companies to another level, and as we did with MU, we’ll be proving our operational capabilities once again with Soul of the Ultimate Nation. After completing its localization and stabilization, we’ll be in the testing phase by the end of 2006.”
Having achieved a record 300,000 concurrent online users in 2003 in China with MU, Webzen, Inc. is poised to create another legend in Asia with the signing of the contract for Soul of the Ultimate Nation with The 9, one of China’s top 3 publishers.
About Webzen, Inc.
Founded in 2000 and based in Seoul, Korea, Webzen has become a leader in the MMOG market and has developed some of the world’s top online game and client/server technologies. Listed on the NASDAQ, Webzen is continuing the tradition of MU Online with Soul of the Ultimate Nation and an array of exciting game titles soon slated for release in the world’s game market. Webzen is also the first publisher in Korea to diversify into console platforms, including Xbox360 and PS3. In January of this year, Webzen announced its entry into the U.S. games market with a new subsidiary, Webzen America, based in Los Angeles.
About The 9
Founded in 1999 and currently a top-3 publisher in China, The 9 is focused on online game publishing. With the success of its first service title, Webzen’s MU, which recorded 300,000 concurrent online users, The 9 has become a major publisher in China. In December 2004, it was listed on the NASDAQ and joined the ranks of world-class publishers. It broke another world record with 540,000 concurrent online users with WOW in June 2005, and continues to hold its place as a premiere publisher in China. The 9’s current lineup of titles includes MU, Mystina, JJW, and WOW (World of Warcraft).
