All Press Releases for October 05, 2021

[Pangyo Game & Contents] NC Soft to Create Future Growth Engines…Diversifies BM by Combining AI with Finance

New business projects such as fin-tech and financial services are different from the existing development and project structures in NC Soft

    LOS ANGELES, CA, October 05, 2021 /24-7PressRelease/ -- NC Soft would carry out the diversification of business model. It would develop monetization strategies using the AI technology besides BM in gaming. It would strengthen business foundation in digital finance and the global market going beyond BM for the domestic market that focuses only on "Lineage".

According to the sources on the 27th, NC Soft would organize a team to carry out new business projects and monetization strategies that combine fin-tech, the IT industry with the AI technology. It would set a direction of the new finance business project by analyzing ways to capitalize on the digital financial market and AI.

New business projects such as fin-tech and financial services are different from the existing development and project structures in NC Soft. It analyzes the validity of new BM projects and consumer value based on data. It lays the foundation for actual business by analyzing the business and regulatory environments. It is planning to do business by working in partnership with companies overseas.

NC Soft would also carry out services that enable monetization using artificial intelligence in finance in earnest. In October of last year, NC Soft made investments in December & Company Asset Management a fin-tech company along with KB securities and launched an AI-based investment securities as a joint venture. NC Soft's Natural Language Processing center develops AI in finance. Robo-advisor, a compound word of robotics and advisor, would manage assets and an AI private banker would become an asset management advisor.

NC Soft is paying attention to AI in order to find business models other than gaming. The company started AI research in 2011. It is running an AI center and five research institutes under the NLP center. 200 researchers specialized in AI are currently working. It has AI technology in various fields from Non Player Character AI to development, operation, vision, speech, and language. It also made baseball information service "page" using AI translation engine or AI widely available.

And NC Soft reviews game business models which are their major business. It hires seasoned business model planners and business model analysts to plan a business model structure of a new game of subsidiary company overseas and analyze business models of global gaming competitors. It is not limited to mobile devices but includes both computers and consoles. They are expected to be involved in market expansion of its cross-play service PURPLE and strengthening of business in the US.

NC Soft is heavily dependent on IP of "Lineage". Business models have grown similar to "the Lineage business model" but the company was criticized for hitting a wall while facing backlash from "Trickster M" and "Blade & Soul" users. Its outcome is not that bad as taking into account its good sales rank in Googleplay but experts say that it needs to make improvements in design and application of business models to enter the global market.

Outside personnel is projected to suggest improvements from a new perspective to increase NC Soft's competitive advantage in the existing and global gaming markets.

An insider of the industry said, "one of the main concerns of gaming companies these days is how to diversify growth engine which is not focused on gaming. As whether a game will be successful in the short-term tends to determine the company's stability, it is coming up with ways to diversify profits for both AI in finance and expanding across the globe."

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year


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