Korea's WeMade shakes off crisis, secures new investment

Korea's game development company WeMade has secured new investment worth 66 billion won ($46.4 million), breathing a sigh of relief after receiving an investment warning for its WeMix cryptocurrency.

In a news conference on Wednesday, WeMade announced new investments from domestic finance companies Shinhan Asset Management and Kiwoom Securities as well as from Microsoft of the US. Through its tie-up, WeMade plans to expand collaboration with the American IT giant, which has cooperative ties in the processing of nodes distributed through blockchain.

WeMade also pledged aggressive cooperation with Shinhan and Kiwoom. "Operation of a digital economy based on WeMix will boost collaboration with financial corporations," WeMade CEO Chang Hyun-guk said.

On the controversy surrounding WeMix, Chang ruled out the possibility of the cryptocurrency's delisting. 

The Digital Asset eXchange Alliance, a group of five crypto exchanges in Korea to protect against volatility and fraud, recently issued an investment warning for WeMix, saying there were more WeMix tokens on the market than WeMade originally announced.

Write to Han-Gyeol Seon at always@hankyung.com