Nam Gung-hun Purchases 1% Stake in Kakao Games... "Gaming Industry Will Grow Again"

Nam Gung-hun, CEO of Eyes Entertainment and former representative director of Kakao, announced on the 24th that he has purchased a 1% stake in Kakao Games in an in-market transaction. This marks his third gaming stock purchase, following Joy City and Wemade Play (on the 11th), which he previously disclosed.

CEO Nam wrote on his Facebook that day, "Following the previous in-market purchase of a 1% stake in Wemade Play, I have additionally purchased a 1% stake in Kakao Games."

As of 9:16 a.m. on the day, Kakao Games shares were trading at 8,570 won, up 0.7% from the previous trading day. Based on a market capitalization of approximately 914.8 billion won, the value of a 1% stake is estimated at around 9.1 billion won. CEO Nam did not disclose the specific timing or purchase price.

He stated, "The current stock market appears to view the gaming industry as moving beyond maturity toward decline," but added, "I believe the gaming industry will grow again in two directions." He elaborated, "One axis will be hardcore growth with advanced technology, blurring the boundaries between reality and virtual worlds, and the other axis will be growth in an increasingly casual direction where anyone can easily enjoy and create directly using AI technology."

Regarding Kakao Games, he evaluated, "It has a unique structure with Line Yahoo as the largest shareholder following Kakao's sale, and Kakao and Tencent still as major shareholders," and noted that "it will face a historic opportunity for growth once more through these distinctive advantages."

Kakao sold a portion of its stake in Kakao Games to Line Yahoo in March, dropping from largest shareholder to second-largest, with the transfer of management control completed in May.

CEO Nam previously served as CEO of Kakao Games and representative director of Kakao, and currently leads the AI-based startup Eyes Entertainment. At the time of his Wemade Play stake purchase, he noted, "The KOSDAQ market has recently been excessively neglected, and gaming stocks in particular are receiving even greater neglect."