Webtoon buys majority stake in Korean game studio

Webtoon Entertainment is acquiring a 60 percent stake in Korean game developer RI Games Holdings for about $100 million, the company said Tuesday, deepening its push into games and animation as core growth shows signs of slowing. RI Games, founded in 2022 by Kevin Tail Han, operates GrayGames and Offbeat, the two studios that will handle the development of new titles. Under the deal, the companies plan to roll out a slate of games over the next four years, drawing on popular series such as "Over

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Frequently Asked Questions

What is the value of Webtoon's acquisition of RI Games?

Webtoon is acquiring a 60 percent stake in RI Games for about $100 million.

What studios operate under RI Games?

RI Games operates GrayGames and Offbeat.

What is the focus of the new partnership between Webtoon and RI Games?

The partnership aims to develop a slate of games based on popular series over the next four years.

When was RI Games founded?

RI Games was founded in 2022 by Kevin Tail Han.