NHN pulls its money out of Chinese market

NHN made a decision to withdraw its investment from the Chinese market. On October 27th, NHN, a major Internet corporation in Korea that operates the nation’s top search portal (Naver.com) and online game portal (Hangame.com), announced that it signed a contract with WDWF, a Chinese investment consulting firm, to sell 55% stake that NHN has in Ourgame. Ourgame was NHN’s game portal in China that was jointly operated with Sea Rainbow Holdings of China. It provided NHN with Chinese channeling services for games that were developed by Hangame. As of September 2010, Ourgame had 170 million subscribers, a record of 750,000 peak concurrent users (PCU), and serviced 166 games.

With this deal, NHN will no longer be operating B2C business service that targets Chinese gamers, but will work with local publishers in China instead. “We have decided to sell our stake in Ourgame as a part of our selection and concentration strategy. We are pulling out of the Chinese market to focus on our other foreign markets,” explained NHN. In the future, NHN plans to focus more on development of its game business in the United States (NHN currently owns ijji.com, a game portal for North American users) and on “Game+Search Engine” business in the Japanese market. NHN especially plans to concentrate more on global mobile game business, securing a foothold in the potential market with Japan as its basis.

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