PIF raises its stake in “Nexon” and “NCSoft” gaming companies ‎to 10.23% and 9.3%‎

The South Korean gaming industry said today, Friday, that the Public Investment Fund (PIF) bought 6.32 million shares of the shares of the South Korean “Nexon” company listed on the Japanese stock market at the end of last month, bringing its share to 10.23%.

According to the Korean Yonhap Agency, the Public Investment Fund acquired a 5.02% stake in Nixon in February of last year, by pumping $883 million.

Since then, the fund has continued to increase its stake in Nixon through additional purchases. Through the purchase last month, the fund became the company’s fourth largest shareholder

The fund also acquired a 9.3% stake in NC Soft, Cosby’s second-largest listed game company by market value, becoming the second-largest shareholder after CEO Kim Tae-jin, who owns 11.9%.

The South Korean company, “Crafton”, plans to hold the international “Battlegrounds Mobile” game competition for the year 2023 this month in Riyadh. It also plans to hold the international “Battlegrounds” game competition next month in Riyadh as well

Last year, Crafton held the Battlegrounds Mobile competition in Riyadh, along with the Gamers 8 event organized by the Saudi Electronic Sports Federation.

According to a report published by the Korean Agency for Creative Content at the beginning of this year, the countries of the Middle East, including Saudi Arabia, Egypt, Jordan, the Emirates and Qatar, were the regions that spend the most time and money on Korean games.

The report showed that the amount that an individual spends on Korean games is $76.2 and $69 in Qatar and the UAE, respectively, which is much more than the average amount of $38.5.