South Korean mobile game developer, Netmarble, announced that it will join United Nations Global Compact. The UNGC is a non-binding United Nations pact to enable firms to adopt sustainable and socially responsible policies and to report on their implementation.
UNGC’s mission is to ensure corporate sustainability by providing rigorous standards of accountability, sustainability, equity, and other good practices at every business level. Netmarble has also paved the way as the first Korean company to join the initiative.
There are currently more than 20,000 member companies from 162 countries worldwide. Companies must comply with the ten principles in the four areas of human rights, labor, environment, and anti-corruption, along with submitting and disclosing an implementation report every year.
The company plans to internalize the ten principles of UNGC throughout management and share its efforts with various stakeholders, including users, shareholders, and local communities, to embed sustainable management performance. The end goal would be to achieve the level of ESG (environmental, social, and governance) of leading global companies in human rights.
Kwon Young-Sik, chairman of the Netmarble ESG Committee, commented:
“Netmarble’s membership in the UN Global Compact is a promise to move toward a future society of growth and coexistence. We will fulfill our duties as a responsible company by internalizing the global ESG standards.”
Netmarble had a great year, as the mobile gaming entity indicated $1.57 billion in sales, with a net loss of $66 million from the beginning of 2022 until the end of Q3. Casual games accumulated almost half (47%) of the revenue as RPGs (24%) and MMORPGs (21%) got close to a quarter. The remaining genres in the company’s portfolio totaled 8% of its revenue.
