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'Guardian Tales' Kong Studios, Net Profit Increases by 230%
The audit report of Kong Studios Korea (CEO Ryu Beom-hwi), the developer of the mobile and Nintendo Switch collectible RPG 'Guardian Tales', has been released. Kong Studios is headquartered in the United States, and this audit report covers only the Korean subsidiary, Kong Studios Korea.
According to the audit report, Kong Studios Korea recorded sales of KRW 48.36 billion in 2024, a 27.3% increase compared to the previous year (KRW 37.98 billion). Expenses increased by 26.1% to KRW 45.67 billion from KRW 36.21 billion in the previous year, resulting in an operating profit of KRW 2.69 billion, a 51.5% increase. While the gross profit margin remained stable, cost efficiency and increased financial income appear to have contributed to the expansion of profitability.
Net profit increased by 231.1% year-over-year to KRW 8.12 billion. This is interpreted as a result of a significant increase in financial income (approximately KRW 2.66 billion) and the effect of deferred corporate tax. Corporate tax expense was -KRW 3.3 billion, reflecting a large tax deduction compared to the previous year.
Team distribution (including stock-based compensation expenses) was KRW 651.24 million, approximately 1.35% of sales. Although the total amount decreased (-25.6%) compared to KRW 875.2 million in the previous year, the ratio to operating income decreased from 2.3% to 1.35%, indicating a relatively reduced contribution to profit.
The increase in personnel is also noticeable. As of the end of 2024, the number of employees was 406, a 26.5% increase compared to 321 in the same period last year. Accordingly, expenses related to salaries and welfare benefits also increased significantly. For example, employee salaries increased by approximately KRW 7.7 billion compared to the previous year, establishing itself as the central axis of overall selling, general, and administrative expenses.
Meanwhile, 'Guardian Tales', developed by Kong Studios, drew attention last December by holding a collaboration event with the popular animation 'Frieren: Beyond Journey's End', and has recently started pre-registration for an update ahead of the application of the new growth system 'Bloom'.
웹진 인벤김규만 기자
2025-04-08