Kim Jung-ju

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Jung-ju Kim
Born	(1968-02-22) 22 February 1968 (age 53)
Nationality	South Korean
Other names	Jay Kim, JJ, 김정주, 金正宙
Education	Seoul National University, KAIST, Korea National University of Arts
Occupation	CEO, NXC Corporation
Known for	Founder, Chairman, Nexon

Jung-ju Kim (born February 22, 1968) is a South Korean businessman, investor, philanthropist, and founder of Korea's largest gaming company, Nexon. He is the chairman and CEO of NXC Corporation, the holding company of Nexon, and a partner at Collaborative Fund, a New York based venture capital firm.^[2]

Forbes named Kim in the top five of Korea’s 50 Richest 2018,^[3] having an estimated net worth of US$6.8 billion.

Career[]

Kim founded Nexon in 1994 and served as the CEO until 2005. Under Kim’s leadership, Nexon launched the world’s first graphic massively multiplayer online role-playing game (MMORPG), Nexus: The Kingdom of the Winds and released popular titles such as MapleStory, KartRider, Mabinogi and Dungeon&Fighter.^[4][5] With offices in Korea, Japan, United States, Europe and Taiwan, Nexon services over 100 online and mobile games to over 190 countries.^[6][7] In 2005, the company moved its headquarters from Seoul, South Korea to Tokyo, Japan and went public on the Tokyo Stock Exchange in 2011. Nexon is valued at over US$13 billion as of March 2019.^[8]

In 2009, Kim consolidated his and his family’s majority holding of Nexon by establishing NXC Corporation, where he currently serves as CEO. He is known for strategic investments that aren’t limited to gaming companies, and he has acquired firms and invested in various fields.^[9] Being an avid Lego fan throughout his life, in 2013 he purchased Bricklink, the world’s largest online marketplace for Lego toys.^[10] In 2014, NXC acquired Stokke, a premium children’s furniture manufacturer^[11] and later purchased JetKids to join Stokke in 2018.^[12] Other acquisitions include Korbit in 2017^[13] and Bitstamp in 2018, both major cryptocurrency exchanges based in South Korea and Europe, respectively.^[14] Some of his investments through NXC include SmartStudy, SendBird and OnDemandKorea.^[15] In 2019, according to media reports, it was announced that Kim is preparing to sell his controlling stake in NXC Corp for an estimated $9 billion (USD).^[16]

In 2014, Kim joined Collaborative Fund as a Partner. At the time, Collaborative’s Founder and Managing Partner Craig Shapiro welcomed Kim as a “bootstrap” business expert at the firm, as he had built Nexon into a multi-billion dollar business without taking any VC investment. Among other contributions, Kim was interested in helping startups expand their businesses outside the US, stating that localization efforts from an early stage can help brands reach a more global audience.^[17] Investments at Collaborative Fund include Lyft, Kickstarter, Quora and Reddit^[18]

Philanthropy[]

Kim's philanthropic endeavors largely support next generation youth, especially in the areas of technology, health and education.^[19] In 2013, he established Asia's first computer museum, Nexon Computer Museum on Jeju Island in South Korea. He is known to have collected valuable computer and gaming collectibles for ten years with the goal of opening such museum dedicated to the history of technology.^[20]

In 2016, NXC, in conjunction with Nexon and Neople, contributed over US$18 million towards the establishment of Korea's first pediatric rehabilitation hospital, Purme Foundation Nexon Children's Rehabilitation Hospital in Seoul, South Korea.^[19] In 2018, Kim established the Nexon Foundation, which continues Nexon's corporate social responsibility activities dedicated to children, and he pledged to donate an additional US$93 million from personal wealth to fund startups and build more children's hospitals.^[21] In February 2019, the foundation announced its donation of US$9 million in support of a second children's rehabilitation hospital to be built in Daejeon, South Korea. This hospital, which is expected to complete by 2021, will be the first public children's rehabilitation hospital in Daejeon.^[22] In October 2020, the foundation announced its donation of US$8.87 million to Seoul National University Hospital (SNUH) to fund the establishment of a palliative care center for children, which aims to open in 2022 in Jongno Deistrict, central Seoul.

In addition, Nexon Foundation runs the Nexon Youth Programming Challenge, an annual computer programming event, and the Nexon Small Library project, a network of 130 public libraries created for children in underserved communities.^[23] In partnership with Nexon Foundation, Kim founded SOHO Impact, a US based non-profit organization promoting creativity in kids through brick play programs.^[24] He is also a founding board member of C-Program, a venture philanthropy fund jointly established by the founders of Nexon, Naver, Kakao, Daum and NCSoft.^[25]

Education[]

Kim holds a B.S. in Computer Science and Engineering from Seoul National University and an M.S. in Electrical Engineering and Computer Science from Korea Advanced Institute of Science and Technology, where he taught as Adjunct Professor in 2011. He also earned an MFA in Arts Management from Korea National University of Arts.^{[citation needed]}

Recognition[]

Kim is a key figure behind Korea’s first-generation tech wave, launching Nexon in 1994 as a game-developing startup and pioneering the freemium gaming business model.^[4] In 2010, he was selected as one of Korea’s Top 100 Leaders in Technology.^[26] In 2012, he received the Presidential Award, Tin Tower Order of Industrial Service Merit for his contributions as a distinguished entrepreneur in South Korea.^[27]

Personal life[]

Kim is married to Jung-Hyun Yoo, and together they have two children.^{[citation needed]}

References[]