Nexon Reports Decline in Net Profit for 2023 Amid High Operating Costs

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SEOUL — Nexon Co., a leading South Korean online gaming company, reported a 30 percent decrease in net profit for the year 2023, attributing the decline to increased operating costs, including foreign exchange losses and investment in U.S. film studio AGBO.

According to Yonhap News Agency, Despite the downturn in profit, Nexon achieved record annual sales, bolstered by the enduring popularity of titles such as Maple Story and Dungeon & Fighter, as well as successful launches of new games like Dave the Diver and The Finals. The company announced plans to introduce two new titles, The First Descendant and Mabinogi Mobile, as part of its global expansion strategy. Nexon's leadership expressed optimism about the future, citing the potential of new franchises and ongoing updates to existing games to drive growth.

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