NC Corporation Corrects Publishing Contract with Tencent: 2 of 5 Mobile IPs Cancelled, Reducing Business Scope
On May 29, 2026, NC Corporation filed a correction to its 2021 global publishing contract with Tencent, revealing the IP names and confirming that 'Trickster M' and 'Hoyeon' will not be released.
The five IPs were: Lineage M, Lineage 2M, Blade & Soul 2, Trickster M, and Hoyeon. Only three remain scheduled for release.
The contract value is at least 2.5% of 2020 consolidated revenue (approx. 2.42 trillion KRW), i.e., at least 60 billion KRW, but exact amount undisclosed.
Contract duration is 3 years from each IP's launch, targeting the Chinese market through Tencent entities.
The cancellation of two IPs reduces potential royalty income, increasing reliance on the three remaining titles.
[AI Comprehensive Analysis]Although a routine correction, the cancellation of 2 out of 5 IPs signals lower expected revenue from the Chinese market. Short-term stock impact is limited, but long-term uncertainty increases.
KOSPI Filing Information
Filing: [Correction of Description] Conclusion of Single Sale and Supply Contract