Jung-ju Jay Kim, founder of South Korean gaming firm Nexon, has passed away at age 54.
On Tuesday, Nexon’s holding firm NXC launched a press release: “With deep sadness, Nexon mourns the unexpected death of its beloved founder, Jungju Jay Kim, who passed away in February.”
His sudden loss of life got here as a giant shock to South (*54*)’s gaming business that sees Kim as an icon and a pioneer. The firm didn’t disclose a reason behind loss of life. According to media reports, Kim had been present process remedy for melancholy, and his situation appeared to have worsened. He is survived by his spouse and two daughters.
Kim, who based Nexon in 1994, pioneered the free-to-play PC and video gaming house and launched Massively Multiplayer Online Role-Playing Game (MMORPG) in 1996. Its standard titles embody The Kingdom of the Winds, MapleStory, KartRider, Mabinogi and Dungeon & Fighter.
Kim stepped down from the CEO place at NXC after serving for 16 years and handed over his place to JaeKyo Lee final yr. Kim considered selling his majority stake in NXC price about $9 billion in 2019 however withdrew the sale as a result of he couldn’t discover a appropriate purchaser.
Nexon, one of many largest gaming corporations on this planet, moved its headquarters from Seoul to Tokyo in 2005 and went public on the Tokyo Stock Exchange in 2011, elevating greater than $1 billion within the yr’s largest preliminary public providing in Japan.
“It is difficult to express the tragedy of losing our friend and mentor Jay Kim, a man who had an immeasurably positive impact on the world,” chief government officer and president of Nexon Owen Mahoney mentioned in a press release. “As a founder and visionary leader, Jay encouraged those around him to ignore the skeptics and trust their creative instincts. He will be deeply missed by his Nexon family and many friends.”
According to Forbes, Kim, the third richest man in South (*54*) as of May 2021, pledged to donate $93 million to startups and kids’s hospitals in 2018.
NXC diversified into the crypto enterprise by way of investments in South (*54*)’s first cryptocurrency alternate Korbit in 2017. The firm has over 45 stay video games accessible in additional than 190 nations.