South Korea's NCSOFT enters into joint venture with VNG

NCV GAMES will oversee the service and operation of NCSOFT IPs in Southeast Asia. Starting with the launch of Lineage 2M later this year, NCV GAMES will introduce NCSOFT’s games to six major countries in the region: Vietnam, Thailand, Malaysia, Indonesia, Singapore, and the Philippines. In addition, NCV GAMES will expand its services by leveraging VNG’s extensive capabilities and specialised expertise in the Southeast Asian market, over a mid- to long-term partnership.

Taekjin Kim, founder and CEO of NCSOFT, commented, “VNG operates across a wide range of business segments beyond gaming, including messaging apps and electronic payments, and has a successful track record in game services based on a deep understanding of the regional market and its users. This makes VNG an ideal partner to connect with NCSOFT’s games."

“NCV GAMES will serve as a pivotal foundation for NCSOFT to deliver new, innovative experiences in the Southeast Asian market," he added.

Le Hong Minh, founder and CEO of VNG, said, “NCSOFT is considered the "father" of online gaming, especially MMORPGs (massively multiplayer online role-playing games). I vividly recall my excitement over 20 years ago at the first-ever World Cyber Games in South Korea in 2002, and experiencing NCSOFT’s 3D game, Lineage 2, in 2006. At that time, we at VNG were just releasing 2D games. Bringing Lineage 2 to Vietnam has been a long-standing goal for VNG. Today, our collaboration with NCSOFT marks the achievement of that goal. With NCSOFT's rich history in the gaming industry and VNGGames' publishing capabilities, we are poised to bring blockbuster Korean games to players in Vietnam and Southeast Asia.”

Founded in 2004, VNG is a tech company renowned for developing and operating ‘Zalo’, the most popular mobile messaging app in Vietnam. As Vietnam’s first unicorn company, VNG has achieved significant growth through active business diversification in both the platform and content sectors. Its main business segments include online games, Zalo, AI, fintech, and digital business.

VNGGames, a games publisher and developer in Vietnam and the region, boasts a portfolio of 130 games, including some of the world’s most popular titles. Since its establishment in 2004, VNGGames has developed extensive expertise in game publishing and operations across various genres, especially MMORPGs. The company currently operates game studios in ten major cities throughout the Asian region.

VNG embraces technology to lead the gaming industry With recent developments in the gaming industry, VNG is quickening its digital transformation to keep its position and venture further into the international market. Giap Le Trong, head of the Game Publishing Platform at VNG Corporation, spoke to VIR’s Bich Thuy about the company's strategy and targets at the AWS Summit Singapore 2023.

Gaming industry potentially a billion-dollar market Vietnam's gaming industry, having generated over $600 million in revenue in 2022, is rapidly positioning itself as a potent player in the Southeast Asian market, according to data from a Vietnam Game Development Alliance report from October.

Long-term product value vital for gaming industry Vietnam’s gaming industry faces significant challenges that necessitate comprehensive regulatory support and international collaboration to realise its billion-dollar aspirations.