South Korean online game developer seeks to boost global esports business
US$45 million to strengthen investment from just hosting contests to fostering new gamers and teams
By Yoon Sung-won
South Korea’s Eyedentity Entertainment launched an integrated e-sports business brand “World eSports Games & Leagues” (WEGL), Wednesday, seeking to combine gaming contests and entertainment.
The company said it plans to extend the range of its esports business from just hosting contests to fostering talented professional gamers and building new stadiums for competitive events.
“We will strengthen investments in e-sports and pour about 50 billion won (US$44.59 million) into this business,” Eyedentity Entertainment CEO Guo Haibin said at a press conference in Seoul. “We plan to spend the money in building new e-sports arenas and fostering new professional gamers and teams.”
According to Eyedentity Entertainment, the global esports market grows by 40 per cent every year. In particular, Korea and China together hold a 23 per cent stake of the global esports market.
The CEO said the company wants to play a key role in improving the relationship between Korea and China through cultural exchanges in the private sector.