South Korea Industry Minister Heads to Washington Amid U.S. Tariff Hike Concerns 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Indonesia Stocks Face Fragile Sentiment After MSCI Warning and Market Rout 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
Toyota Retains Global Auto Sales Crown in 2025 With Record 11.3 Million Vehicles Sold 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
Nvidia’s $100 Billion OpenAI Investment Faces Internal Doubts, Report Says 
Climate Adaptation at Home: How Irrigreen Makes Conservation Effortless 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
Nexon Co., the South Korean video game company, reached a deal with Saudi Arabia's Public Investment Fund (PIF) for the purchase of a five percent stake. The sovereign wealth fund invested $883 million for the stake acquisition.
According to Korea Joongang Daily, with its five percent stake ownership in Nexon, the PIF has become the fourth-largest shareholder of the company. The sovereign wealth fund is said to be headed by the country's Crown Prince Mohammed bin Salman.
The stake acquisition was recently revealed through regulatory filing late last week. While it was only reported a few days ago, the purchase was said to have actually taken place last month - from Jan. 25 to 27. As posted in the filing, the Saudi Arabian PIF entered into a deal with Nexon for "pure investment" purposes.
Nexon has been getting investments from companies, but this is the first time that it has Nexon has received a substantial investment coming from a fund in the Middle East. Aside from the deal with said sovereign wealth fund, the gaming firm also recently obtained a $400 million investment from a film production company called AGBO that was co-founded by Marvel's "Avengers" film directors, Joe and Anthony Russo.
Nexon is known for some hit games, including role-playing games (RPG) such as "V4," which stands for "Victory For," "The Kingdom of the Wind: Yeon," and "Kart Rider." After the news of Saudi's PIF's acquisition of a stake in Nexon has been released, its stock reportedly increased 3.3 percent.
The Korea Economic Daily reported that since Saudi's sovereign wealth now owns a share in Nexon, it is expected to support the gaming company's global network expansion.
It was further revealed that the PIF is actually putting its money through investments in several major gaming firms worldwide. In fact, aside from Nexon C., it has also recently announced its purchase of a 5.1% share in Capcom Co., a Japanese game developer.
Finally, the sovereign wealth fund also owns a 4.9% stake in Activision Blizzard Inc., which is known for its hit title fame, "World of Warcraft," "Call of Duty," "Crash Bandicoot," "Overwatch," and "Starcraft." And these are not all, as the PIF also bought a 2.6% stake in Electronic Arts video game company and 3.5% shares in Take Two Interactive Software Inc.
