Kunlun Plans $46M+ Fund For Korean Game Development

The recently established Korean branch of Chinese online game company Kunlun says it's planning to partner with the local government and other backers to create an investment fund of more than $46 million for Korean games. Kunlun Korea opened last December, launching its first game for the region, K3 Online, last month. The free-to-play strategy game has already attracted over 100,000 players, and the publisher expects another 100,000 to join before the end of August. It intends to put out two more titles in 2011, and publish 10 additional games in Korea next year. The company's Bejing-based parent has been around since 2008, and has generated some $187 million in sales in the past three years. Kunlun is one of the biggest online gaming publishers in China, but half of that comes from overseas markets. Kunlun Korea is the firm's seventh branch, but it will be the first to launch a local investment fund. "The reason for having the investment fund only in Korea is that we recognize Korean developers' capabilities and know-how," said Kunlun Korea's general manager MinGoo Kim, according to a report from Korean industry news site This Is Game. Kim continues, "We believe that games that succeed in Korea would also experience success abroad, too, and the Korean market deserves its value. Moreover, we thought it would be the best foundation for future global markets we are aiming for." The Korean publisher says that the projects selected for and supported by the proposed $46 million fund would be released via Koram Game, Kunlun's global platform for online titles like Three Kingdoms Online, Clash of Kindgoms, and Kungfu Online.