Neowiz (095660.KQ) has appointed Chris Jung, a former chief product officer (CPO) at European video game company Wargaming, as head of its Global Business Group to strengthen its competitiveness in the global game market, the company said on the 9th.
Jung is a game industry leader who has overseen the full spectrum of the business, from founding a development studio to running global franchise operations, in North America and Europe as well as Korea. As CPO at Wargaming, he served as the top executive responsible for world-renowned global franchise IPs including "World of Tanks" and "World of Warships." He also drew industry attention by founding game company Motiga and developing a new intellectual property (IP) called "Gigantic." In addition, he led Asian and North American operations as head of the business division at NCSOFT headquarters and head of its U.S. subsidiary, giving him extensive experience and deep understanding of global markets.
Through this hire, Neowiz plans to solidify its position as a global publisher based on Jung's diverse global business experience and leadership. The company aims to grow existing IPs such as "Lies of P" into franchises consistently loved by gamers, while continuously discovering new IPs to build an IP portfolio that sustains growth in the global market.
The appointment came alongside an organizational restructuring at Neowiz. The company reorganized its existing structure into three units: the New Game Development Group, the Global Business Group, and the Live Game Business Group. Cho Min-gu, head of the Olympus Division, will lead the Live Game Business Group. Building on the stable live service operations of web board games such as Pmang and popular IPs including Brown Dust 2 and Cats & Soup, the Live Game Business Group will advance its data-driven operating system and enhance IP competitiveness through new initiatives.
"With Jung joining us, we now have a publishing organization and capabilities with a broad understanding spanning from early development to global franchise building," a Neowiz official said. "Going forward, we will actively support new games we discover so they can succeed in the global market, and further expand business opportunities such as new IP discovery and investment."
