VNG pours money into Korean game company

Thursday, Mar 31, 2022 10:29

VNG's campus in HCM CIty. VNG has invested in Korean gaming start-up Haegin, officially jumping into the Metaverse, a virtual-reality space. — Photo courtesy of the firm

VNG announced it has invested in a Korean gaming start-up Haegin, officially jumping into the Metaverse, a virtual-reality space in which users can interact with a computer-generated environment and other users, and boosts the firm’s “go global” strategy.

VNG joined Haegin’s series B investment worth 100 billion won, or US$81 million, with investors including Bon Angels, Venture Partners and Storm Ventures. Haegin has raised funds from Kakao Games, Nepture, Netmarble, KDB Industrial Bank, Lotte Ventures and NetEase.

Haegin is a mobile game company founded in September 2017 by CEO Lee Young-il, the co-founder of Comus, who oversaw the development of global hits such as ‘Summer's War: Arena of the sky’, ‘Golf Star’, ‘Fishing’, ‘Home Run Battle’ and ‘Combus Professional Baseball’.

Initially, Haegin attracted more than eight billion won in investment from Storm Ventures, Tencent, Bon Angels, Cona Venture Partners, Dev Sisters, and experts in each field who have gained various experiences and skills in the global gaming market have steadily joined.

After the round, Haegin joined the list of ‘Unicorn Companies’ in Korea.

Haegin is developing two new mobile games relating to sports and role-playing games (RPGs) with the goal of launching this year. With the new investments, Haegin plans to actively use the overall company's capabilities to leap forward over global game companies, such as large-scale expansion of recruitment, improving the working environment and welfare system, and expanding investment in the game business.

A VNG representative said that by investing in Haegin, VNG not only spreads out across the globe but also aims to become a global investor, particularly in the Metaverse. — VNS

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