[Alpha Biz=(Chicago) Reporter Kim Jisun] Nexon Korea (Nexon) will continue to provide funds to its joint ventures (JV) with Wonder Holdings, "Nitro Studio" and "devCAT."

The two companies, which spun off to develop new Nexon IP (Intellectual Property Rights), are suffering from financial difficulties due to box office failures and delayed release.

According to the Financial Supervisory Service's electronic disclosure system on the 27th, Nitro Studio signed a contract to borrow 6 billion won from Nexon on the 19th. Nitro Studio borrowed a total of 50 billion won from Nexon in September 2021, followed by January (13 billion won) and August (6 billion won) this year until October. The borrowing rate is based on the checking interest rate (4.6%).

Of the borrowings, 38 billion won will expire in September next year. It is likely to go by extending the maturity.

Nexon has also loaned a large amount of money to DevCat this year in addition to Nitro Studio. Like Nitro Studio in April, Devcat borrowed 32 billion won this year alone for operating funds. Devcat has so far borrowed a total of 72 billion won from Nexon, of which 40 billion won is set to be repaid in September next year.

 

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