Nexon Engaging Hostile Takeover Of NCSoft

WildStar64 2014-05-08 13-12-45-60

The relationship between Nexon and NCSoft has reportedly turned sour as the former has decided to take on a management role in the latter. Over two years ago Nexon purchased a majority stake in NCSoft, announcing at the time that it was purely for “investment” purposes. Relations between the two companies apparently soured when NCSoft appointed CEO Kim Taek-jin’s wife, Yoon Song-yee, to the role of President without notifying Nexon.

CEO Kim Taek-jin has vocally announced his displeasure with Nexon’s decision, stating:

“Nexon’s latest decision will damage the values of the NCSoft shareholders and weaken the competitiveness of the entire Korean game industry due to the (companies’) differing management philosophies and business models,”

NCSoft and Nexon have had a hard time getting along since the shareholder buyout, as differences in business perspective and management resulted in the failure of their first joint project: Mabinogi 2.

(Source: Korea Herald)

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