Latest news with #KraftonInc.
Korea Herald
2 days ago
- Business
- Korea Herald
OpenAI CSO Kwon to visit S. Korea for AI partnership: sources
Jason Kwon, Chief Strategy Officer of OpenAI, will visit South Korea on Thursday for the second time in just over two weeks to explore partnerships in the artificial intelligence sector, industry sources said Wednesday. His upcoming visit comes just a week after the inauguration of President Lee Jae-myung, who has pledged to make South Korea one of the world's top three AI powerhouses through a 100 trillion-won ($73 billion) national investment initiative. During his previous visit on May 26, Kwon said OpenAI has established a Korean subsidiary and plans to open its third Asian office -- following Tokyo and Singapore -- in Seoul in the coming months. The move is part of OpenAI's broader global expansion. The developer of ChatGPT has launched 11 new offices in major cities in recent years, including Paris, Brussels, Singapore, London, Dublin and Tokyo. "OpenAI considers South Korea a key partner due to its high level of engagement with our services and sees strong potential for collaboration with Korean companies," an OpenAI official said. South Korea ranks among the top 10 countries globally in terms of ChatGPT users and developers using OpenAI platforms. In particular, it has the second-largest number of paid ChatGPT subscribers, following the United States. Even before formally entering the Korean market, OpenAI has collaborated with several major Korean companies, including internet giant Kakao Corp., game developer Krafton Inc. and mobile carrier SK Telecom Co., on AI technologies and data center development.
Time of India
24-04-2025
- Business
- Time of India
Krafton-backed Blue Ocean Games launches $30 million fund to back indie game developers
Blue Ocean Games , a venture fund backed by South Korean gaming giant Krafton Inc., has launched a $30 million fund to support indie game developers globally, with a strong focus on emerging talent from India. Founded by Damian Lee, former head of investments at Krafton, the fund aims to back 100 developers over the next three years. It introduces a custom investment model called the Structured Agreement for Indie Launch (Sail), offering capital at the concept stage—before developers even have a playable build. Each developer can access $100,000 in funding, with teams eligible for up to $300,000, disbursed over two years. 'We want to provide accessible pathways for developers of all backgrounds, whether they are self-taught creators with a unique vision, or small teams making their first or second game,' said Lee, founder and managing partner of Blue Ocean Games. 'We are particularly excited about the immense creative potential and innovative concepts emerging from India, which possess both local relevance and global appeal.' Under the Sail model, developers retain full ownership of their intellectual property. The structure includes a hybrid equity and revenue-sharing agreement, designed to balance developer control with investor returns. 'India is a powerhouse of creativity and technical skill, yet many brilliant ideas struggle to find early support. Blue Ocean Games introduces a forward-thinking investment model that gives indie developers critical financial backing at the earliest stages,' said Sean Hyunil Sohn, CEO, Krafton India . Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Beyond financing, the fund will also offer practical support such as incorporation assistance, bookkeeping, and mentorship from industry veterans. Developers will be grouped into cohorts to foster community-building and shared learning, it said. While the current fund is optimised for solo developers and small, first-time teams, Blue Ocean Games plans to extend support to larger and more experienced teams through future funds.
Bloomberg
27-03-2025
- Entertainment
- Bloomberg
‘The Sims' 25-Year Supremacy Is Challenged by Korea's Krafton
Most people have fantasized about inhabiting someone else's life. For 25 years, video-game players have lived out those dreams in The Sims from Electronic Arts Inc. The problem, according to Hyungjun 'Kjun' Kim, a producer-director for South Korean gamemaker Krafton Inc., is that those fantasies are limited — culturally and graphically. His entry in the life-simulation genre, inZOI, debuts on March 28 at $40.
