NCSoft Director Remuneration Limit Increased From 20 Billion To 15 Billion Won

NCSoft director remuneration limit increased from 20 billion won to 15 billion won First cut since founding. NCSoft, which is working to improve management efficiency due to poor performance, is seeking to reduce the limit on director compensation for the first time since its founding.

NCsoft issued a notice convening a general shareholders’ meeting on the 28th and announced that it had decided to reduce the director compensation limit from 20 billion won to 15 billion won.

NCSoft’s board of directors currently consists of seven members, including inside director Taek-jin Kim (CEO), Byeong-moo Park, co-representative nominee (other non-executive director), and outside directors Chan-hyeon Hwang, Sang-hoon Baek, Young-ju Choi, Kyo-hwa Jeong, and Jae-cheon Choi.

NCSoft plans to reappoint CEO Kim as an executive director at the general shareholders’ meeting held on the 28th of next month and appoint co-CEO Park Byeong-moo as an executive director.

In addition, Jae-ho Lee, Chief Financial Officer (CFO) of Osstem Implant, who previously served as Chief Financial Officer ( CFO ) of NCSoft and CEO of NC West, was newly appointed as an outside director (audit committee member).

NCSoft performed very poorly last year, with sales falling 30% and operating profit plummeting 75% compared to the year before.

This can be attributed to a decline in sales of the ‘Lineage’ mobile game trilogy, which was a cash cow, and poor performance of new games.

Regarding the reduction of director remuneration limits, an NCSoft official explained, “We comprehensively considered the highly volatile internal and external business environment and the company-wide management and cost efficiency policies.”

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