Shift Up Raises $320 Million in Largest Korean Gaming IPO Since 2021

The developer of Stellar Blade and Goddess of Victory: Nikke aims to diversify its game portfolio with IPO proceeds.

Shares surged nearly 50% on the first day of trading, closing at ₩71,000.
Founder and CEO Hyung-Tae Kim becomes a billionaire with a 39% stake.
Tencent, the second-largest shareholder, sold 7.3 million shares at ₩60,000 each.
Shift Up reported a 155% revenue increase in 2023, driven by Goddess of Victory: Nikke.
The IPO is the second-largest in South Korea this year, following HD Hyundai Marine Solution.