How the Korean game company behind Lies of P found success after struggles
Neowiz co-CEO Kim Seung-chul shares how the 2023 game marked a change in the company’s strategy and its plans for future franchises
When Kim Seung-chul became Neowiz’s co-chief executive in 2021, the company was in dire need of a shift in its operations.
The company was considered one of Korea’s big three game companies in the 2000s, publishing various hit titles while games developed by its own studios achieved noticeable success.
In the 2010s, however, the domestic market shifted towards mobile titles and massively multiplayer online role-playing games (MMORPGs), and many of Neowiz’s in-house titles struggled to gain traction, leaving a handful of board game franchises to carry much of the company’s profitability for a long period.
A turning point came when the company launched its action game Lies of P in 2023 and achieved global success.
The game did not rely on what had long been considered the traditional formula for Korean games, which involved large-scale player-vs-player content, pay-to-win systems and convoluted storylines.