Smilegate Officially Launches Independent Global Finance Platform Grou… 2022-04-13
■ Smilegate Group has launched an independent finance group through corporate governance restructuring
■ Hyuk-bin Kwon, founder of Smilegate, suggested a vision for the global growth of the finance group and promised significant investment and full support
■ The group will invest in future-oriented growth and develop into an innovative global finance group representing Asia
■ Spinning off Smilegate Investment's AC (accelerator) corporation and systemic investment division with VC and PE to provide support for the creation of an entrepreneurial ecosystem and an efficient finance platform service
In celebration of its 20th anniversary, Smilegate Group (hereinafter referred to as Smilegate, CEO: Jun-ho Seong,) announced on the 13th that it will launch an independent finance group in the global finance market as a part of the company's 'Next 20 Years' vision for the future.
Smilegate will first undergo corporate governance restructuring to build an independent group dedicated to finance. In order to further develop and grow its current finance-related businesses, the group is planning to spin off parts of its game/entertainment group and its finance dedicated group, including its VC (Smilegate Investment) and asset management corporation (Smilegate Asset Management), and grow the group into an independent finance group. On its launch, founder of Smilegate Hyuk-bin Kwon suggested an innovative global vision for the independent finance group, and promised to provide individual support and investments separate from the support provided by the group.
With these subsidiary spin-offs, the finance group is expected to achieve performance comparable to the success achieved by Smilegate in the gaming and entertainment industries. In addition, the finance group is expected to assist in the growth of young entrepreneurs on top of the ongoing CSV activities of Smilegate to develop startups that can succeed in the global market. Smilegate founder Hyuk-bin Kwon has pledged to provide active support.
The new Smilegate Finance Group is planning to build a global finance platform that will provide financial services integrating new technologies such as AI and blockchain in the global finance market, while also serving as a bridgehead of investment and expanding its positive influence through 'investments in future-oriented growth.' In addition, as a 'global innovator in the Korean finance industry,' the group will continue investing in financially developed countries, such as the US, and markets that are appealing in terms of growth potential, such as India, China and other countries in Asia.
The group will also develop investment programs such as angel funds for businesses in their very early stages. Smilegate Investment will separate itself from the accelerator (AC) corporation within this year to improve its early investment capabilities. The group is planning to actively support the creation of an entrepreneurial ecosystem by discovering companies that show potential early on and making systemic investments. The AC, investment, and asset management corporations will be responsible, respectively, for early investment, traditional venture investment from series A to the pre-IPO phase, and investment in listed companies, real estate, and overseas. The group is planning to invest in and develop companies in all sectors with expertise and sincerity.
Smilegate Group CEO Jun-ho Seong stated, “In celebration of its 20th anniversary, Smilegate Group has established this year as the beginning of the growth and development phase of its innovative global financing business in the process of forming a vision for the next 20 years.” He continued, “We will enhance the capabilities of this new finance group so that it can become independent and also continue to make investments and provide support for the group to help it grow into a top-tier global finance group based on its innovative vision.”
Meanwhile, Smilegate has been leading innovation in the game and entertainment industries and has achieved remarkable growth. The group has achieved tremendous success in the game industry, spearheaded by the global mega-hit CrossFire, followed by LOST ARK, which is currently trending in the North American and European markets, and Epic Seven, which remains popular among global users. Smilegate has also led IP diversification in the game industry and drawn attention in the global entertainment market by achieving a noteworthy performance in the field of cultural content.