KRAFTON Chairman Byung-gyu Chang Meets Indian Prime Minister Narendra Modi

KRAFTON is boosting its cumulative investment in India to 500 million dollars (about 675.2 billion won). KRAFTON’s Chairman of the Board, Byung-gyu Chang, met with Indian Prime Minister Narendra Modi in New Delhi on September 4 and spoke about the company’s long-term plans for its India operations and unveiled its investment policy.
Up until now, KRAFTON has invested $250 million (approx. 337.6 billion won) in India. The plan is to commit an additional $250 million for the next three to four years, accumulating its direct investment in India to 500 million dollars.
The company explained that it has separately allocated 670 million dollars for a venture growth fund to invest in growth-stage start-ups in India’s digital ecosystem.
Beyond game development, KRAFTON announced that it will diversify its capital into artificial intelligence (AI), robotics, and deep tech, indicating that it intends to view India not only as a publishing market for its new releases but also as an emerging investment and technology development base.
Talent cultivation and techniques to acquire local intellectual property (IP) were also on the agenda. On September 1, KRAFTON India and the Indian Institute of Technology Madras (IIT Madras) signed a memorandum of understanding (MOU) to launch ‘KIGI Academy,’ an educational program for game development and interactive media, as part of an effort to nurture a local developer supply chain from the ground up.
KRAFTON stated that the investment fits in with the Indian government’s ‘Create in India, Create for India, Create for the World’ policy as well as the ‘Viksit Bharat’ development vision. In addition, it noted the convergence of bilateral cooperation between South Korea and India in the digital infrastructure and technology fields.
Chairman Byung-gyu Chang said, “India is an enormous opportunity with extraordinary talent in gaming, technology, and innovation, and our continued investment reflects our confidence in India’s long-term prospects and our desire to contribute to India’s digital economy. In addition, through investment, human resources development, and new technology, we will collaborate with India’s creator, developer, and entrepreneurial communities to deliver experiences and technology with global appeal.”