Netmarble, South Korea’s leading mobile game developer, saw its share price rise on June 17 amid high expectations on its new game lineup.
Netmarble’s new mobile role-playing game Seven Deadly Sins: Grand Cross was released on June 4 in Korea and Japan and has become a bestseller. In Japan, it was ranked No. 3 app on Apple’s App Store and fourth on Google Play as of June 16.
Japan’s game market, the world’s third-largest, where a player spends $446 on average higher than the US and China, is considered to be a difficult market for foreign game makers as customers prefer domestic games.
Netmarble made a foray into Japan in earnest in 2016 when founder and Chairman Bang Joon-hyuk announced ambitious global expansion plans.
BTS World, which Netmarble has been preparing for the last two years, is another big boost for investor sentiments, coming after the boy band’s successful world tours in America and Europe -- grossing $79 billion from six shows.
BTS World is slated to be unveiled on June 26. It is a story-based mobile game in which players become the BTS manager to develop the K-pop band and promote members.
“This is a chance to buy Netmarble shares as the company is enjoying the popularity of three new releases in Korea and Japan and the imminent release of BTS World,” Sung Jong-hwa, an analyst with E-Best Investment said, suggesting a target price of 156,000 won. “In particular, the launch of BTS World and its initial reception is highly anticipated.”
Netmarble shares rose more than 4 percent on June 14. The shares rose more than 1 percent on June 16 in monring trade before closing unchanged at 126,500 wown. The benchmark Kospi index was down 0.22 percent to 2,090.73 points on the same day.
By Park Ga-young (email@example.com)