WEBZEN Sells China Rights for Huxley to The9 for $35 Million.Agreement Marks the Largest Export License for a Korean Online Games Developer SEOUL, South Korea -- WEBZEN Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : WZEN), a leading global online entertainment company, today announced that it has signed an export license contract for the much-anticipated massively multiplayer online first person shooting game (MMOFPS MMOFPS Massively Multiplayer Online First Person Shooter MMOFPS Massively Multiplayer Online Fps ) Huxley with China's premier game publisher The9. The total projected amount of the agreement for Huxley's distribution and service rights is estimated at $35 million. This includes the down payment and a minimum guarantee for a three-year period, while the royalty rate is set at 22% for the duration of the contracted term. The agreement covers the PC version of the game. With additional profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of , such as revenues from in-game advertisements, the value of this contract is believed to be the largest export transaction for a single game to a single country for a Korean game developer. "With this first deal in China, we are confident that we will continue to have additional Huxley contracts in other territories around the world," said Nam Ju Kim, chief executive officer, Webzen, Inc. "We expect that Huxley will emerge as a flagship title for WEBZEN, based on its high anticipation in Korea, China, the U.S. and other key markets." Huxley marks the third Webzen game to be licensed to The9 in China. Following behind The9's successful launch, operation and marketing support of MU, Webzen granted the Chinese game provider the rights to Soul of the Ultimate Nation A launch date for Huxley in China has not been announced, but the game is scheduled to launch its PC version in Korea later this year. About WEBZEN Inc. Founded in 2000 and based in Seoul, South Korea, WEBZEN Inc. (KOSDAQ KOSDAQ Korean Securities Dealers Automated Quotations : WZEN) (NASDAQ: WZEN) has become a leader in the MMOG (Massively Multiuser Online Game) A game on the computer played by many people. Also called "massively multiplayer online" (MMO), an MMOG differs from a regular multiplayer game because its environment is perpetual. market and has developed some of the world's top online game and client/server technologies. WEBZEN is continuing the tradition of MU Online, which boasts more than 50 million registered users, with Soul of the Ultimate Nation and an array of exciting game titles slated for release in the world's game market. WEBZEN is also the first publisher in Korea to diversify into console platforms, including Xbox 360. In January 2005, WEBZEN announced its entry into the U.S. games market with a subsidiary, WEBZEN America, based in Los Angeles. For more information on the company and its products, please head to www.webzen.com. All trade marks TRADE MARKS. Signs, writings or tickets put upon manufactured goods, to distinguish them from others. 2. It seems at one time to have been thought that no man acquired a right in a particular mark or stamp. 2 Atk. 484. are the property of their respective owners. |
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