Home / Companies / People /  Kim Jung-ju, founder of gaming company behind Kartrider, dies at 54

Online game developer Nexon Co.’s billionaire founder Kim Jung-ju died at the end of last month in the US, his private investment firm NXC Corp. said. He was 54.

Kim had received treatment for depression and recently his condition seemed to be worse, NXC Corp., the holding firm of Nexon said in a statement, without giving a cause of death. The company said Kim’s family members are “devastated."

"Please excuse us that we cannot explain in detail as all of his family members are devastated," NXC said. "The deceased had been receiving treatment for depression, and we are sad that it seemed to have worsened recently."

Kim stepped back from running NXC last year, but he was involved in the activities of NXC as a director of the company. After Kim, NXC appointed Jaekyo Lee to the position of CEO and Alex Iosilevich as Global President and Chief Investment Officer.

Kim founded Nexon in 1994 when he launched the world’s first graphics-based massive multiplayer online game, “Kingdom of the Winds" and he made Nexon one of the largest game developers, with hit online games like "MapleStory and "KartRider."

Kim was also credited for pioneering the free-to-play game model. In 2005, he established NXC as the holding company of Nexon, to promote valuable digital technologies, global community outreach and cultural programs. 

Over the years, NXC invested in numerous startups spanning the sectors of fintech, education and lifestyle for kids, and acquired several companies including Stokke as well as two top cryptocurrency exchanges: Bitstamp in Europe and Korbit in Korea.

 

 

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