Kim Jung-ju, South Korean billionaire and founder of gaming company behind ‘MapleStory,’ dies at 54

Kim Jung-ju, the founding father of Nexon, South Korea’s largest gaming firm, died on Feb. 28 in Hawaii at 54 years previous.

NXC, Nexon’s holding firm, introduced Kim’s loss of life and acknowledged that he had been present process remedy for despair as his bodily signs worsened, in response to The Korea Herald.

He’s survived by his two teenage daughters, Kim Jung-min and Kim Jung-youn, and spouse, Yoo Jung-hyun.

Nexon CEO Owen Mahoney launched a press release that learn:, “It’s troublesome to specific the tragedy of shedding our pal and mentor Jay Kim, a person who had an immeasurably constructive impression on the world. As a founder and visionary chief, Jay inspired these round him to disregard the skeptics and belief their artistic instincts. He will probably be deeply missed by his Nexon household and lots of pals.”

Kim launched Nexon in 1994, and it turned the primary Korean gaming firm to earn over $830 million in annual gross sales throughout the first 12 months of its debut. Nexon additionally developed one of many first multiplayer on-line role-playing video games, “The Kingdom of the Winds,” in 1996 and launched one of many world’s most well-known video games, “MapleStory,” in 2003.

In keeping with Seoulz, Nexon is now the largest gaming firm in South Korea with a market capitalization of $27 billion.

In 2007, the 54-year-old made his debut on Forbes’ Korea’s Richest Checklist the place he ranked No. 28 with a web value of $590 million. In June 2021, Kim formally turned the third richest man in South Korea with a complete web value of $10.9 billion, reported Forbes.

After pleading not responsible to bribery costs in 2016 when Kim was indicted of lending cash to a detailed prosecutor pal, he centered on varied philanthropic work. In keeping with Forbes, in 2017, Kim based the enterprise philanthropy fund C Program, and in 2018, he vowed to donate $93 million to kids’s hospitals and startup firms. He additionally acknowledged that his kids wouldn’t be inheriting his fortune.

Between 2013 and 2015, his firm donated roughly $16.6 million to assist construct the Purme Basis Nexon Kids’s Rehabilitation Hospital in Seoul,. Nexon claimed the hospital was the primary rehabilitation hospital to be constructed for youngsters in South Korea.

Previous to his loss of life, Kim continued donating to kids’s hospitals in South Korea and had donated a complete of $3.1 million to the Daejeon Chung-nam Public Kids’s Rehabilitation Hospital in addition to $2 million to the Nexon Kids’s Palliative Care Heart at Seoul Nationwide College Hospital, which is deliberate to open someday this 12 months.

Characteristic Picture by way of Nexon

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