The South Korean company NCSOFT plans to withdraw some of its internal divisions into full-fledged companies. The decision was made on June 24, 2024 during a meeting of the board of directors. Such a step was announced during the financial report for 2023 and did not make the company’s employee union very happy.
At the moment, it is planned to create two companies (preliminary names):
- NC IDS COMPANY will specialize in application and system software development, consulting and computer systems integration. Three divisions from NCSOFT, previously involved in IT infrastructure, business application development and customer acquisition, will move to this company.
- NC QA COMPANY will undertake software quality assurance services and other related activities.
It is estimated that about 360 employees will be transferred, and the capital of the new companies will be 7 billion won and 6 billion won, respectively. NCSOFT itself will take over the remaining business units and remain listed, with a market capitalization of approximately 10.9 billion won.
All conditions for the spin-off of the business and distribution of shares will be approved on August 14, 2024, and from October 1, the new companies will begin their activities.
