Park Kwan-ho, founder of WEMIX(112040), expressed deep regret to shareholders for the "anxiety and confusion" caused by the second delisting of WEMIX and stated that he will "respond to the unreasonable decisions of exchanges through all legal means." He repeatedly emphasized his commitment to continuing the blockchain-based game business without interruption. According to the IT industry on the 7th, Park stated in a letter to shareholders on the 6th that "the unilateral decision-making process and non-disclosed criteria of exchanges are undermining market trust, and the damage is being entirely transferred to investors." He clarified that "this incident is a 'WEMIX Play bridge accident' used by global game users, not a WEMIX mainnet issue," and is unrelated to the mainnet's security and stability. Park criticized that the WEMIX price drop was concentrated at the time domestic exchanges announced designating it as a cautionary stock, calling it "an arbitrary and unilateral collusion using a private group called the Digital Asset Exchange Association (DAXA) without any legal authority or substance." He emphasized continuing the existing WEMIX-based blockchain game business regardless of this situation. He noted that 72.7% of total sales (5,181 billion won out of 7,118 billion won) were generated overseas last year, demonstrating the business structure has already shifted globally. He assured that no schedules will be delayed or strategies constrained. Park shared specific business plans, including launching "Fantastic Baseball Ilmi Pro" in Japan in May and preparing new sub-culture and collection-type RPG games. He plans to actively target the North American market riding the US blockchain regulation relaxation trend. Regarding China, he stated they are actively pursuing local development and investment, minimizing business risks through cooperation with Hong Kong-based companies and local enterprises. Drawing from tokenomics design experiences with "MIR4" and "Night Crow," Park mentioned they are complementing previous shortcomings and evolving the design in "Legend of Immir" to create a game where WEMIX is directly used. He concluded by requesting continued support, emphasizing that WEMIX has overcome numerous challenges over 25 years to become a market-leading game company. Meanwhile, WEMIX experienced a hack in March, losing approximately 8.65 million WEMIX worth about 9 billion won. DAXA, comprising five domestic won cryptocurrency exchanges, designated WEMIX as a cautionary stock and decided to delist it. This is the first delisting case in the domestic digital asset industry, following a previous delisting in December 2022 due to circulating supply disclosure controversy.
- Reporter Jin Dong-young
- jin@sedaily.com
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