Who Owns NEXON Company?

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Who Owns NEXON Company?

Understanding a company's ownership is key to its strategy and accountability. Nexon's ownership structure saw significant shifts following the passing of its founder, Kim Jung-ju, in February 2022, impacting its holding company, NXC Corp.

Nexon, a global online gaming leader, was founded in Seoul in 1994 and later moved its headquarters to Tokyo in 2005. Its success is built on pioneering free-to-play models with titles like MapleStory and Dungeon & Fighter.

Who owns NEXON Company?

Following the founder's passing, the ownership of NXC Corp., the holding company for Nexon, underwent changes. As of August 1, 2025, Nexon Co., Ltd. holds a market capitalization of approximately €12.62 billion (¥2.26 trillion). This analysis will explore the evolution of Nexon's ownership, including the founder's initial stake, investment impacts, public shareholders, and current shifts.

Nexon was founded on December 26, 1994, in Seoul, South Korea, by Kim Jung-ju. He is recognized as the sole founder of the company, an engineer who transitioned into entrepreneurship. Specific details concerning the initial equity distribution or shareholding percentages at the company's inception are not publicly disclosed.

Founding of Nexon

Nexon was established in Seoul, South Korea, on December 26, 1994. The company was founded by Kim Jung-ju, an engineer turned entrepreneur.

Sole Founder

Kim Jung-ju is credited as the sole founder of Nexon. Information regarding other co-founders or early equity splits is not publicly available.

Early Ownership Structure

Details on the initial equity distribution and early ownership agreements for Nexon are not publicly disclosed. The focus remains on the founder's significant role.

NXC Corporation

In 2009, NXC Corporation was established to consolidate Kim Jung-ju's and his family's majority shareholding in Nexon. NXC is headquartered in Jeju Province, South Korea.

Founder's Influence

Kim Jung-ju maintained significant influence over Nexon through NXC Corporation. His personal holding company managed his substantial stake in the gaming giant.

Founder's Shareholding

Prior to his passing, Kim Jung-ju held approximately 48% of Nexon's total shares through NXC Corporation. This indicates a substantial majority holding.

Kim Jung-ju's personal holding company, NXC Corporation, established in 2009 and headquartered in Jeju Province, South Korea, served as the vehicle to consolidate his and his family's majority ownership of Nexon. Before his passing, Kim Jung-ju's personal stake through NXC was approximately 48% of the total shares. Although Kim Jung-ju stepped down from Nexon's board in July 2016 following a corruption scandal, he retained his position as chairman of NXC Corp., demonstrating how control can be maintained via a holding company even with a founder's reduced direct involvement.

Key Aspects of Early Nexon Ownership

The early ownership structure of Nexon is primarily defined by its sole founder, Kim Jung-ju. His subsequent establishment of NXC Corporation solidified his and his family's majority control over the company.

• Nexon was founded in South Korea in 1994 by Kim Jung-ju.
• Kim Jung-ju is the sole credited founder of the company.
• NXC Corporation was established in 2009 to manage the founder's majority shareholding.
• Kim Jung-ju held approximately 48% of Nexon's shares through NXC prior to his death.
• Control was maintained through NXC even after Kim Jung-ju stepped down from Nexon's board in 2016.
• Understanding the Mission, Vision & Core Values of NEXON provides context to the company's foundational principles.

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Nexon's ownership journey has seen significant shifts, particularly following its 2011 Tokyo Stock Exchange IPO and the passing of its founder. These events have reshaped its shareholder landscape, introducing new major investors and altering the control dynamics within its parent entity.

Nexon's ownership structure is primarily anchored by NXC Corporation, its holding company, which maintained a substantial 46.2% stake in the publicly listed Nexon as of September 2022. The passing of founder Kim Jung-ju in February 2022 initiated a significant transition, with his wife, Yoo Jung-hyun, becoming the largest shareholder in NXC. Their two daughters also inherited substantial stakes, collectively giving the late founder's family approximately 96.92% ownership of NXC. Further adjustments occurred in August 2024 when the family sold a 645 billion won stake in NXC to the holding company itself, a move intended to manage inheritance tax obligations. Earlier, in February 2023, a significant portion of the family's NXC stake, valued at 4.7 trillion won, was transferred to the South Korean government as part of their inheritance tax settlement, positioning the government as the second-largest shareholder of NXC. The government's subsequent attempts to auction this stake have not yet been successful. Beyond the founding family's direct and indirect holdings, institutional investors have also become key stakeholders. The Saudi Arabian Public Investment Fund acquired over 5% of Nexon in February 2022, reportedly valued at US$883 million, while American investment firm KKR also secured an 8.5% stake around the same period. These developments highlight a growing diversification of major shareholders, influencing company strategy and governance.

Key Stakeholders in Nexon's Ownership

Nexon's ownership is a blend of the founding family's significant holdings through NXC Corporation and substantial stakes held by institutional investors.

• NXC Corporation, the Nexon parent company, remains the largest shareholder.
• The late founder's family holds a majority stake in NXC Corporation.
• The South Korean government is the second-largest shareholder of NXC Corporation.
• Institutional investors like the Public Investment Fund and KKR are also significant shareholders.
• These diverse ownership interests can influence Nexon's strategic direction and governance.

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The current leadership at Nexon is spearheaded by Junghun Lee, who took on the roles of Representative Director, President, and CEO in 2024. Shiro Uemura serves as the Representative Director and Chief Financial Officer. The board also includes directors Patrick Söderlund and Daehyun Kang, alongside outside directors Naoya Tsurumi, Alexander Iosilevich, Satoshi Honda, and Shiro Kuniya, who are part of the Audit and Supervisory Committee.

Nexon operates under a standard one-share-one-vote system for its ordinary shares on the Tokyo Stock Exchange. However, the majority of voting power and influence is concentrated with NXC Corporation, the largest shareholder. This significant ownership stake, held by the family of the late founder, grants them considerable control over the company's strategic decisions, even as a publicly traded entity. There have been no recent public reports indicating significant shifts in this control due to proxy battles or activist investor actions.

Understanding Nexon's Ownership Structure

Nexon's ownership is largely influenced by NXC Corporation, which holds a substantial stake. This concentration of shares means NXC Corporation wields significant voting power.

• NXC Corporation is the primary shareholder.
• The company follows a one-share-one-vote principle for ordinary shares.
• The late founder's family controls NXC Corporation.
• This structure gives them considerable influence over Nexon's direction.
• Understanding Revenue Streams & Business Model of NEXON is key to appreciating the company's value.

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Recent years have seen significant shifts in the ownership landscape of Nexon, largely driven by the inheritance of founder Kim Jung-ju's shares and subsequent strategic financial decisions. These events have reshaped the company's shareholder structure and its approach to capital allocation.

Nexon has demonstrated a commitment to enhancing shareholder value through active share buyback programs and an updated shareholder return policy. The company's strong financial standing, with over ¥600 billion in cash as of February 2025, provides a solid foundation for these initiatives and future strategic investments, aiming for substantial revenue and operating income growth by 2027.

Shareholder Value Enhancement

Nexon is actively repurchasing shares and increasing dividends. This strategy aims to directly reward its shareholders.

Financial Strength and Future Outlook

With substantial cash reserves, Nexon is well-positioned for growth. The company targets significant increases in revenue and operating income by 2027.

Ownership Structure Evolution

Inheritance of founder's shares led to transfers to family and the government. The government is now a significant shareholder in the Nexon parent company.

Strategic Financial Maneuvers

Nexon's buyback programs and dividend policies reflect a proactive approach. These actions are designed to boost Nexon stock ownership value.

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