Wemade founder and chairman Park Kwan-ho has agreed to sell his entire 39% stake in the WEMIX token issuer to NeoPulse, an investment vehicle backed by Alibaba-linked capital, the South Korean gaming company disclosed 30 Jun.
WEMIX Issuer Wemade To Be Sold to Alibaba-Linked Buyer for $660mn
30 June 2026 - 13:00 CEST
By Oihyun Kim
The deal values Park's 13.35mn shares at KRW920bn ($660mn). A 10% down payment of KRW92bn was paid the same day, with the balance due 30 Oct, according to a regulatory filing.
Alibaba-linked capital arrives
NeoPulse, a Seoul-registered investment platform established in October 2025, is wholly owned by Hong Kong's Shengsong Investment and led by chief executive Chen Wei.
Once the deal closes, NeoPulse will hold 40% of Wemade, including its prior 0.9% stake, making it the company's largest shareholder.
Wemade's crypto strategy unclear
The transaction hands control of one of South Korea's largest blockchain gaming operators to a China-linked investor. Wemade issues the WEMIX token and runs WEMIX Play, an onchain platform that links games built on its network to share liquidity and user bases, raising questions about how the new ownership will approach token governance and the firm's broader crypto strategy.
Wemade said NeoPulse cited the strength of its Mir role-playing game franchise in China and plans to expand AI-driven game development as key reasons for the investment, alongside ambitions to deepen ties with Chinese publishers and tech firms.
Wemade and NeoPulse did not immediately respond to requests for comment on the deal's implications for WEMIX's token strategy.
Management control is set to transfer once shareholders elect NeoPulse-nominated directors at an extraordinary general meeting, contingent on antitrust clearance and other closing conditions. Park also serves as Wemade's chief executive, and the ownership change could trigger a broader leadership reshuffle.
