Webzen Inc.'s Q3 operating profit falls 29.3% as a lack of new releases weighs on results

[Financial News] Webzen Inc. posted weak results in the third quarter this year amid a prolonged gap in new game releases. It is aiming for a rebound next year by stepping up preparations for upcoming launches, including unveiling a new game at this month's G-STAR 2026 international game exhibition.
On the 6th, Webzen Inc. announced that it recorded revenue of 36 billion won, operating profit of 5.3 billion won and net profit of 5.2 billion won in the third quarter this year. These figures represent declines of 17.8%, 29.3% and 40.1%, respectively, from the same period last year.
The declines are seen as resulting from lower game revenue both in South Korea and overseas due to delays in new game releases.
Webzen Inc. plans to improve its results by launching new games. At G-STAR 2026, which opens on the 19th at BEXCO in Busan, it will unveil for the first time I Became the Tyrant of a Defense Game: Last Stage, a command-strategy role-playing game (RPG).
The new game is based on the intellectual property (IP) of WEBTOON's I Became the Tyrant of a Defense Game. Built on Unreal Engine 5 (UE5), it brings the original work's world to life in three-dimensional (3D) graphics and uses a “diorama pixel art” technique, in which each pixel in the characters is rendered by hand.
Webzen Inc. plans to set up a hands-on game experience area at G-STAR and give users their first chance to try the game. Its official release is targeted for the first half of next year.
The company is also preparing a new game based on its flagship IP, MU. At G-STAR, Webzen Inc. will unveil the teaser video for MU Theos, a massively multiplayer online role-playing game (MMORPG), for the first time. It recently completed an in-house beta test (IBT), and is targeting a release next year.
New game projects are also underway at several development subsidiaries, including Webzen Crevix.
Webzen Redstar is developing Project G, a new game based on the MU IP and built with Unreal Engine 5. The project also takes entry into Western markets into consideration, and Webzen Inc. plans to announce specific business plans depending on the project's level of completion.
Webzen Inc. CEO Kim Tae-young said, “We are making company-wide efforts to overcome the downturn caused by delays in new game releases,” adding, “We will continue to devise measures to secure medium- and long-term growth, including expanding our overseas business models, while focusing on supporting development at our development subsidiaries.”
[email protected] Jang Min-kwon Reporter