Game mogul`s entrepreneurial spirit

Kim Jung-joo, 43, the chairman of NXC, the holding company of Korea`s largest online game company Nexon, founded Nexon in 1994 at age 26. In 1996, Nexon created “Kingdom of the Wind,” an online game using King Daemushin of the ancient Korean kingdom of Goguryeo as a motif. Then came the big hits “Maple Story” and “Kartrider.” "Kingdom” is the world`s first graphic online game and the first Korean online game to be exported. Of Nexon`s expected revenue of more than 1 trillion won (860 million U.S. dollars) this year, 60-70 percent is from abroad.

Nexon is the first Korean company listed on the Tokyo Stock Exchange. The company`s market capitalization is approximately 8 trillion won (6.9 billion dollars). Nexon is the world`s third-largest game company following Activision Blizzard and Electronic Arts of the U.S. Shares held by Nexon founder Kim, who started the company at a small office 17 years ago, exceed 3 trillion won (2.59 billion dollars) in value. Only Samsung Electronics Chairman Lee Kun-hee and Hyundai Motor Group Chairman Chung Mong-koo have a higher net worth. Kim has seen phenomenal success thanks to his strategy of taking on the global market, not just Korea`s.

As The Dong-A Ilbo`s Tokyo correspondent in 1999, I met Japan`s Economic Planning Minister Taichi Sakayia, who was once a renowned economic commentator. He said, "Japan has grown lethargic and lost interest because it avoids risk and lacks respect for entrepreneurs." It struck me when Sakayia said, “(Japan is) a country that respects its vice finance minister more than Bill Gates.” He said this with entrepreneurs like Kim, who started his own business and achieved big success instead of choosing a secure job after graduating from a prestigious university, in mind.

Youths have more days to live than days that they have lived. They have the privilege of taking on challenges and have time to rise again after failure. Star venture entrepreneurs such as Nexon founder Kim, NCsoft Chairman Kim Taek-jin and NHN Board of Directors Chairman Lee Hae-jin started their own companies in their 20s. The first generation of successful entrepreneurs such as Samsung Group founder Lee Byung-chull and Hyundai Group founder Chung Ju-yung started their ventures when young. Hopefully, Kim Jung-joo`s sense of challenge and achievements can motivate young people who want to start their own businesses.

Editorial Writer Kwon Sun-hwal (shkwon@donga.com)