Park Kwan-ho, Chairman of Wemade, has signed a share sale agreement worth approximately 920 billion won (about $670 million). Through a strategic partnership with NeoPulse, an investment platform with extensive ties to China's gaming and technology ecosystem, the company aims to accelerate AI-driven game development and expand its presence in the Chinese market.
Wemade announced on July 30 that Park had entered into a share purchase agreement (SPA) to sell a portion of his Wemade stake to NeoPulse. The transaction is valued at approximately 920 billion won.
NeoPulse, established in October last year, is an investment platform reportedly connected to major Chinese gaming and technology companies, including Alibaba. Industry sources believe the acquisition is backed by significant Chinese capital.
The two companies plan to make China and AI the core pillars of their future growth strategy. NeoPulse cited Wemade's expertise in developing massively multiplayer online role-playing games (MMORPGs) and the strong competitiveness of the MIR intellectual property (IP) in China as key reasons for the investment. The partnership is expected to expand collaboration with leading Chinese game developers and technology companies while pursuing joint game projects and broader IP commercialization.
The agreement is centered on a shared vision of advancing AI-powered next-generation games and accelerating expansion in the Chinese market. Believing that AI will fundamentally reshape the gaming industry, the partners plan to integrate advanced AI technologies across game development, next-generation graphics, digital humans, and live services to enhance both content quality and user experience.
The 920 billion won valuation reflects the proven long-term revenue-generating power of the MIR IP in China through subsidiaries such as ChuanQi IP, while also recognizing future growth potential from AI integration and expanded global distribution.
A Wemade spokesperson said, “The future of the gaming industry will be determined by how effectively companies leverage AI. This partnership, built on strong mutual trust and a shared vision, will serve as a key milestone in securing a leadership position in the next-generation gaming market. Wemade will continue to meet market expectations through a thorough localization strategy and strengthened AI-driven game development capabilities.”
