[Edaily Reporter An Yu-ri ] Chairman Park Kwan-ho Wemade Co., Ltd.(112040) personally explained the rationale behind the sale of his stake to employees, stating, “Expansion into a larger market is no longer a choice but a condition for survival.”

According to industry sources on the 1st, Chairman Park made this statement in an email sent to employees the previous day, saying, “I determined that now is the time to lay the groundwork for a proper leap onto a bigger stage.”

He stated, “I have signed a Share Purchase Agreement (SPA) to sell my stake in Wemade Co., Ltd.,” adding, “This was a decision I made after much deliberation, and at the heart of that deliberation was always Wemade Co., Ltd.’s ‘next chapter.’”

However, Chairman Park noted, “This agreement will only take effect once all final procedures are completed and the balance is paid,” adding, “Until then, I will remain in my current position, taking full responsibility for the company and ensuring we prepare for this transition in the best possible way.”

He cited the need to expand into global markets as the reason behind this sale.

Chairman Park emphasized, “The gaming industry is no longer confined to a single country,” adding, “The era of envisioning the company’s future based solely on the Korean market has passed, and expansion into larger markets is no longer a choice but a condition for survival.”

He continued, “The MIR IP continues to generate immense value in China, and at the same time, another major market—North America and Europe—awaits us,” explaining, “To fully leverage these two pillars for our growth, we needed the right partners and resources.”

He also mentioned the need to adapt to the era of artificial intelligence (AI).

Chairman Park said, “AI is changing both how games are made and how they are enjoyed,” adding, “We must become a company that leads this trend, rather than one that is merely swept along by it.”

He continued, “To me, Wemade Co., Ltd. is like a child,” adding, “Before long, Wemade Co., Ltd. will become independent from me and embark on a journey of growth in a larger and broader market.”

He continued, “Just as parents send their grown children out into the wider world, I intend to take a step back and wholeheartedly cheer on that growth,” adding, “I am confident that Wemade Co., Ltd.’s best days are yet to come.”

On June 30, Wemade Co., Ltd. announced that it had signed a share transfer agreement to sell 13,350,738 common shares (39.33%) held by Chairman Park to NeoPulse, a Chinese-backed investment platform. According to Wemade Co., Ltd., NeoPulse is an investment platform that maintains close ties with Alibaba and major Chinese gaming companies, and is owned by Shengsong Investment Co., Limited, a Hong Kong-based entity.

The transaction is valued at 920 billion won and is scheduled to close on October 30, provided that certain conditions precedent—including approval of the merger filing—are met.