Neowiz Investing $28M In Small Studios

Author: by ThisIsGame Editors

South Korean online game developer and publisher Neowiz announced plans to invest $28 million in small studios over the next three years as part of its efforts to help grow its own company. CEO and chairman Sung-Kyun Na outlined three obligations he believed Neowiz must fulfill in order to become a "beautiful company", including social contributions, fostering a healthy game culture, and growing together with developers. On that final point, it will invest $28 million in small, local studios for the next three years as it pursues "joint growth". It will also support developers by hosting seminars and conferences where technology and experiences can be shared. Neowiz's social contributions will include a two-day camp for gamers and their families including sessions on the positive aspects of gaming, indoor and outdoor game fairs, scholarships, employee volunteer work, sports and cultural activities for the underprivileged. The company hopes to "offset the negative" impression of games and help create a healthy game culture, too, by advocating regulation, consultation/treatment, and management programs designed to prevent gaming addiction. It will also launch a fraud monitoring initiative. [This story was written with the permission of, and using material from ThisIsGame Global, the leading English-language site about the South Korean game industry.]