Nexon Corp. results

Nexon Corp., the South Korean-based leading global publisher of free-to-play online games, announced its worldwide revenues increased 56 percent last year, growing from 450.8 billion won in 2008, to 703.6 billion won in 2009. Additionally, Nexon America posted a 31 percent increase in revenues in 2009, as for the first time, non-Korean contributions accounted for the majority of Nexon’s global revenue.

Nexon’s increase in revenues can be tracked to the continued global success of Dungeon & Fighter, which has more than 200 million registered users and recorded 2.4 million maximum concurrent players combined from China, Japan and South Korea. Dungeon & Fighter is set to be released in the North American market as Dungeon Fighter Online on June 9. Also contributing to Nexon’s growth is MapleStory, which accumulated 95 million worldwide registered users (more than six million registered users in North America), and KartRider, which also has over 200 million worldwide registered users.

Nexon has jumped out to a fast start in 2010, with highly successful launches in South Korea of Mabinogi Heroes (dubbed Vindictus in North America) and Dragon Nest. And though the slowed economy left game sales slumping in North America, Nexon America was able to post a 31 percent revenue increase, 57 billion won in 2009 compared to 43 billion won in 2008. So far in the first quarter of 2010, Nexon America has posted a huge revenue gain, growing more than 28 percent in revenues compared to the same time period in 2009.

“Nexon has perfected the free-to-play model worldwide and has applied it as a winning formula to very outstanding games,” said Daniel Kim, Nexon America’s CEO. “Here at home, we have been able to fend off the tough times and continue growing our revenues while adding more and more players to our games. Going forward, Vindictus, Dragon Nest and Dungeon Fighter Online represent the next generation of free to play games that should appeal directly to gamers in North American.”

Nexon America will be presenting Vindictus, Dragon Nest and Dungeon Fighter Online for hands-on play at the company’s first ever appearance at Los Angeles’ E3 Expo in June. Nexon plans its North American launch of Vindictus for later in 2010, and Dragon Nest to follow in 2011.

About Nexon America, Inc.

Nexon America Inc. is the North American publishing arm of Nexon Group, a pioneer of interactive entertainment software and the world's leader in massively multiplayer online games. Based in Los Angeles, Nexon America was founded in 2005 to bring the best of online entertainment to the North American audience. The company's growing library of titles includes the world famous franchise MapleStory, the new fantasy life of Mabinogi, the fast-paced, first-person shooter Combat Arms and the online, arcade-style multiplayer, hyper-puzzle action game PopTag!. The foundation of all Nexon America titles is the item selling business model, in which users access the full game for free and can later opt to pay for game enhancements.

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