Jung-ju Jay Kim, founding father of South Korean gaming firm Nexon, has handed away at age 54.
On Tuesday, Nexon’s holding firm NXC launched a press release: “With deep unhappiness, Nexon mourns the surprising loss of life of its beloved founder, Jungju Jay Kim, who handed away in February.”
His sudden loss of life got here as a giant shock to South Korea’s gaming business that sees Kim as an icon and a pioneer. The corporate didn’t disclose a explanation for loss of life. In line with media studies, Kim had been present process therapy for despair, and his situation appeared to have worsened. He’s survived by his spouse and two daughters.
Kim, who based Nexon in 1994, pioneered the free-to-play PC and video gaming area and launched Massively Multiplayer On-line Function-Taking part in Sport (MMORPG) in 1996. Its widespread titles embody The Kingdom of the Winds, MapleStory, KartRider, Mabinogi and Dungeon & Fighter.
Kim stepped down from the CEO place at NXC after serving for 16 years and handed over his place to JaeKyo Lee final yr. Kim thought of promoting his majority stake in NXC value about $9 billion in 2019 however withdrew the sale as a result of he couldn’t discover a appropriate purchaser.
Nexon, one of many largest gaming corporations on the planet, moved its headquarters from Seoul to Tokyo in 2005 and went public on the Tokyo Inventory Change in 2011, elevating greater than $1 billion within the yr’s largest preliminary public providing in Japan.
“It’s tough to precise the tragedy of dropping our pal and mentor Jay Kim, a person who had an immeasurably optimistic influence on the world,” chief govt officer and president of Nexon Owen Mahoney mentioned in a press release. “As a founder and visionary chief, Jay inspired these round him to disregard the skeptics and belief their inventive instincts. He will likely be deeply missed by his Nexon household and plenty of buddies.”
In line with Forbes, Kim, the third richest man in South Korea as of Might 2021, pledged to donate $93 million to startups and youngsters’s hospitals in 2018.
NXC diversified into the crypto enterprise via investments in South Korea’s first cryptocurrency change Korbit in 2017. The corporate has over 45 stay video games obtainable in additional than 190 nations.