[Alpha Biz= Paul Lee] Seoul, August 28, 2025 — Wemix Korea, a subsidiary of Korean gaming group Wemade, reported zero revenue in the first half of 2025, highlighting mounting financial difficulties despite direct oversight from founder and Chairman Kwan-ho Park.



According to industry sources, the company’s revenue came to nothing in H1, marking the first time since its establishment in late 2021 that it has generated no sales. Wemix Korea had previously posted small but consistent revenues: KRW 4.5 million in 2022, KRW 580 million in 2023, and KRW 1.02 billion in 2024.



The company’s profitability has worsened as expenses and losses grew while revenue dried up. Wemix Korea posted a net loss of KRW 1.7 billion in H1 2025, following a net loss of KRW 15.6 billion in 2024. Still, the firm’s total equity stood at a relatively strong KRW 145.3 billion at the end of June.



The revenue collapse stems from the termination of interest income previously received from its affiliate Wemade Play. Wemix Korea had earned nearly all of its revenue from interest payments on KRW 30 billion in bonds with warrants (BW) issued by Wemade Play in 2022 during its acquisition by Wemade from Smilegate Holdings. However, with Wemade Play repaying the bonds early last year, that revenue stream ended in 2025.



Wemix Korea was originally established in late 2021 as an intermediate holding and investment vehicle for the acquisition of several affiliates, including Wemade Play (formerly SundayToz). It has no independent business operations of its own. Wemix PTE, a wholly owned subsidiary of Wemade, holds 100% of Wemix Korea’s shares. Wemade Play and This Means War are among its current subsidiaries.

 

 

 

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