[THE INVESTOR] Korean game company HanbitSoft on Jan. 8 said it will develop its own cryptocurrency, with plans to hold an initial coin offering in March. 

HanbitSoft signed an agreement with Metaps Plus, Korean unit of Japanese fintech firm Metaps, to conduct an ICO in March. Due to ICO ban in Korea, the firm’s offering will take place overseas, including in Japan and Hong Kong. The firm expects to raise 100,000 units of Ethereum in exchange for its newly issued currency, which will be used in its popular games, including “Audition.” 

HanbitSoft CEO Kim Yoo-ra (left) and Kim Seung-yeon, Metaps Plus CEO

The firm said it is planning to release a white paper on the new digital currency in February. 

It is also developing a blockchain-based platform to be implemented in the firm’s games, allowing users to receive coins as a reward. 

“It is the first case here to link a popular game and blockchain technology from the development stage,” said HanbitSoft CEO Kim Yoo-ra. “The development will be able to show how the blockchain platform can be applied in the real world.”

HanbitSoft, established in 1999, is known for distributing global games such as “Starcraft” and “Diablo” in the market. Its flagship game “Audition” has accumulated over 800 million users.

By Ahn Sung-mi (sahn@heraldcorp.com)