NCSoft Revealed Guild Wars 3 Already In The Works In A Hostile Shareholder Meeting

NCSoft was forced to reveal that Guild Wars 3 is already in the works after being called out by its investors during a shareholder meeting this week to address the company’s dropping stock value.

The first concern that shareholders brought forth during the meeting was the underwhelming performance of Throne and Liberty in South Korea and the company’s decision to redact the MMORPG’s sales numbers in its Q4 2023 financial report. CFO Hong Won-jun defended the move by basically saying that they’re just following everyone else’s lead.

“Since the previous earnings announcement, sales by game were not disclosed, giving rise to various speculations,” he explained. “There are people who say that this is because the performance of each game is not good, but in a way, it can be said to be ‘obviously wrong.’ The purpose is simply to align with other listed companies’ disclosures and global standards. Information on sales by game is provided through the IR office. However, we will carefully consider what will be best for shareholders during the next earnings announcement.”

Things escalated quickly from there as the next shareholder questioned why NC West CEO Songyee Yoon still hasn’t been sacked after eight years of continued losses. Acting Chairman Park Byeong-moo was quick to point out that Yoon united all six of NCSoft’s US-based studios under one banner since her appointment. That includes ArenaNet, which Park revealed was already working on Guild Wars 3.

“Originally, NC had six studios in the United States, and the work was done to organize the six and integrate them into one ArenaNet,” said Park. “Although additional costs were incurred in the process, it ultimately resulted in a competitive ArenaNet. Rather than looking at the deficit as a number, NC contributed to strengthening competitiveness in the United States.”

“ArenaNet has a meaningful IP called ‘Guild Wars’, and after Guild Wars 2, they are currently working on Guild Wars 3,” he added. “Looking at this process, we have considerable competitiveness. Although it is not completely profitable, I believe that it has increased its competitiveness.”

Shareholders also questioned executive compensation, NCSoft’s allegedly tarnished reputation, the mass exodus of developers through 2021 and 2022, and the competency of CEO Kim Taek-jin. The company’s executives assured investors that they can and will return to profitability as they take their first steps forward towards becoming recognized as a global video game company. The main takeaway, however, is that Guild Wars 3 is now in development. Yay!