Tencent Holdings Ltd. has been reported to be studying a potential acquisition of South Korean game developer Nexon, with the deal valued at approximately $15 billion (around 20 trillion won). Tencent has approached the family of Nexon's late founder Kim Jung-ju, who controls 44.4% of Nexon through NXC Corp. Discussions are described as preliminary.
Nexon, known for titles such as Dungeon & Fighter Mobile and its investments in Web3 projects including MapleStory Universe and Oasys, saw its shares surge by 10% following the reports. The potential acquisition is viewed as a move by Tencent to strengthen its presence in the gaming sector and the Korean cultural content market. However, the proposed deal has raised concerns within the Korean games industry, with some viewing it as a national security threat due to increasing Chinese investment in Korean content. On June 18, Tencent officially denied reports of its interest in acquiring Nexon, labeling the acquisition rumors as untrue.