Jung Zhu Ji Kim, founder of the South Korean gaming company Nexon, has died at the age of 54.
On Tuesday, the Nexon holding company NXC issued a statement: “With deep sadness, Nexon mourns the unexpected death of its beloved founder, Jungju Jay Kim, who died in February.
His sudden death came as a big shock to the gaming industry in South Korea, which sees Kim as an icon and a pioneer. The company did not reveal the cause of death. According to press releasesKim has been treated for depression and his condition appears to have worsened. He is survived by his wife and two daughters.
Kim, who founded Nexon in 1994, pioneered free play space for computers and video games and launched the Massive Multiplayer Online Role-Playing Game (MMORPG) in 1996. Her popular titles include The Kingdom of the Winds, MapleStory, KartRider, Mabinogi and Dungeon & Fighter.
Kim stepped down as CEO of NXC after working for 16 years and handed over his position to JaeKyo Lee last year. Kim was considering selling his majority stake at NXC worth about $ 9 billion in 2019, but withdrew the sale because it could not find a suitable buyer.
Nexon, one of the world’s largest gaming companies, moved its headquarters from Seoul to Tokyo in 2005 and went public on the Tokyo Stock Exchange in 2011, raising more than $ 1 billion in the largest initial public offering for year in Japan.
“It is difficult to express the tragedy of the loss of our friend and mentor Jay Kim, a man who had an immeasurably positive impact on the world,” Nexon CEO and President Owen Mahoney said in a statement. “As a founder and visionary, Jay encouraged people around him to ignore skeptics and trust their creative instincts. He will be greatly missed by his family Nexon and many friends. ”
According to ForbesKim, South Korea’s third richest man by May 2021, has promised to donate $ 93 million to startups and children’s hospitals in 2018.
NXC diversified its crypto business by investing in South Korea’s first cryptocurrency exchange, Korbit, in 2017. The company has more than 45 live games in more than 190 countries.