Lee Si-woo, Co-CEO of Kakao Games, appeared on stage at the 'Goblin's World' media showcase on the 20th. This was a departure from the previous CEO, who rarely made public appearances when meeting with reporters. His presence suggested efforts to stabilize the struggling company.
The connection between Lee (CEO) and Kakao Games dates back ten years. Having worked alongside Namgung-hoon Jeon (CEO), he launched 'Onmyoji' in 2017 as head of the publishing division. The game, which depicted the unfamiliar Japanese onmyodo tradition for domestic audiences, garnered significant attention. Subsequently, as head of business operations, he was involved in titles including 'Dragon Nest 2', 'Chronicles of the Ancients', 'Princess Connect!', 'Terra Classic', 'Moonlight Sculptor', 'Odin: Valhalla Rising', and 'Ares: Rise of Guardians'.
Overseeing publishing and operations for an extended period, he faced multiple crises. In 2020, when controversy erupted over the revision and handling of dialogue in 'Guardian Tales', he served as head of business operations. The incident began when game event dialogues were arbitrarily altered without prior notice, sparking backlash. Compounded by issues related to banned word settings and user communication, the company faced a severe crisis. Lee (CEO) acknowledged full responsibility, posting an official statement and apology on the company's cafe to address the situation.
Two years later, another crisis emerged. Controversy arose over alleged discrimination against Korean servers in 'Uma Musume Pretty Derby'. Accusations surfaced that the Korean server was operated disadvantageously compared to the Japanese server regarding key event announcement timing, distribution of paid currency, and expiration periods. As the controversy intensified, Lee (CEO) held a meeting with users, personally engaging with them. During the approximately eight-hour session, he fully acknowledged the company's responsibility and bowed his head in apology.
Within Kakao Games, there is hope that Lee (CEO), who has endured numerous trials, will restore the company to stability. Lee (CEO) has experienced many failures. While 'Onmyoji' initially achieved commercial success, it was shut down after about three years. Titles such as 'Dragon Nest 2', 'Chronicles of the Ancients', and 'Terra Classic' also saw only brief initial success or ultimately failed commercially. However, by successfully launching 'Princess Connect!', 'Odin', and 'Ares', he contributed to elevating Kakao Games to the ranks of major domestic game companies.
Kakao Games has recorded losses for seven consecutive quarters. In recent years, there have been no notable commercial hits. Revenue from existing games has declined significantly, and plans for major new releases are scheduled only for next year. At this critical juncture, Lee (CEO), who has taken the helm, is reported to be feeling immense pressure. It is said that since becoming more like Namgung Jeon (CEO) in terms of his bold personality, such signs of strain have diminished.
The gaming industry watches closely to see whether Lee (CEO) can overcome the crisis using lessons learned from past trials and errors. What Lee (CEO) has learned over the past decade is communication with users. Whenever 'Lee Suga' incidents occurred, he listened to user voices and bowed his head in apology. During last quarter's conference call, he stated, "We take seriously the fact that delays in launching several new titles have weakened market trust." There is hope that Lee (CEO), who has now stepped forward to restore trust, will help Kakao Games regain its pride.
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