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EA Launches Korean Expansion

Electronic Arts has bought a 20% stake in Korean online gaming company Neowiz with a series of new launches planned for that market.

The two companies already have a relationship, and EA says it plans to extend its interest. IIn 2006, EA and Neowiz partnered to launch EA Sports FIFA Online, which now has 4.4 million registered subscribers.

Under the terms of today's deal, EA will own approximately 19 percent of Neowiz stock at a cost of $105 million. EA will be Neowiz' second largest shareholder after CEO-founder Sung Kyun Na (pictured).

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next-gen.biz
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