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[Market Now] Webzen shares up on board chairman’s election win
By Korea HeraldPublished : April 14, 2016 - 11:35
Shares in Webzen, a local online game developer, were trading higher on Thursday morning on the victory of its former CEO and current board chairman in Wednesday’s parliamentary election.
Kim Byung-kwan, a veteran game entrepreneur who ran Webzen as CEO until June 2012, won a parliamentary seat on the ticket of the main opposition party, becoming the first game-industry figure ever to enter the 300-member National Assembly. During his campaign, Kim said, if elected, he would push to ease regulations that “hamper” the local gaming industry’s advancement.
As of 11 a.m. Thursday, shares in Webzen were trading at 24,650 won on the KOSDAQ exchange, up 3.14 percent from the previous close. Kim holds a 26.72 percent stake in Webzen.
By Lee Sun-young (milaya@heraldcorp.com)
Kim Byung-kwan, a veteran game entrepreneur who ran Webzen as CEO until June 2012, won a parliamentary seat on the ticket of the main opposition party, becoming the first game-industry figure ever to enter the 300-member National Assembly. During his campaign, Kim said, if elected, he would push to ease regulations that “hamper” the local gaming industry’s advancement.
As of 11 a.m. Thursday, shares in Webzen were trading at 24,650 won on the KOSDAQ exchange, up 3.14 percent from the previous close. Kim holds a 26.72 percent stake in Webzen.
By Lee Sun-young (milaya@heraldcorp.com)
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Articles by Korea Herald
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