HYBE headquarters in Yongsan District, central SeoulYONHAP
HYBE IM, a gaming subsidiary of K-pop giant HYBE, has secured 30 billion won ($20.3 million) in investment from three entities.
The investment announced Tuesday comprises 15 billion won from existing investor IMM Investment, a major Korean venture capital firm, while the other half comes from new investors Shinhan Venture Investment and Daesung Private Equity.
“The investment is a result of the market highly valuing HYBE IM’s global publishing and [game] servicing abilities and the expandability of the game business involving the intellectual property of HYBE’s artists,” HYBE IM said in a press release Tuesday.
HYBE IM’s CEO, Chung Woo-yong, said the investment was an “important milestone” for the publisher.
“Based on a simple IP-based game portfolio, HYBE IM will make the leap to become a next-generation game publisher that is attractive for global gamers,” Chung said in a press release.
HYBE IM is known for developing BTS Island: In the SEOM, a casual puzzle game featuring the members of BTS. It also developed Puzzle Seventeen and Rhythm Hive, a rhythm game with K-pop tracks. The company also plans to publish the massively multiplayer online role-playing game Architect: Land of Exile and Project Torch.
![HYBE headquarters in Yongsan District, central Seoul [YONHAP]](https://image.koreajoongangdaily.com/10328580.webp?imageId=10328580&width=960&height=640&format=jpg)
