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WEBTOON Expands Global IP Business with Strategic Investment in RI Games Holdings Inc.
Dedicated games pipeline built on stories with established global fandom expands WEBTOON’s ecosystem with proven IP
LOS ANGELES, August 10, 2026–(BUSINESS WIRE)–WEBTOON Entertainment Inc. (Nasdaq: WBTN) today announced it has entered into a definitive agreement to make a strategic investment in RI Games Holdings Inc. The investment gives WEBTOON a dedicated pipeline to develop games from hit webcomics with established, built-in global fandoms. Upon closing, WEBTOON Entertainment will hold a 60% majority stake in RI Games Holdings.
Together, WEBTOON and RI Games Holdings plan to develop and launch multiple games over the next four years, based on proven intellectual property (IP) with an established global fan base. RI Games Holdings operates through two game development studios, GrayGames and Offbeat. The slate includes games based on the hit series Overgeared(1.3B global views), Doom Breaker(590M global views), and WEBTOON sensation Omniscient Reader(akaORV, 3.05B global views).1 Each title is part of a broader franchise strategy, with planned anime adaptations helping extend these stories and engage wider audiences: from webcomic to animation and game.
Leading the lineup is a new action MMORPG based on the hit webcomic, Overgeared, scheduled for global launch later this year. Developed by GrayGames and the game is planned to launch alongside an anime adaptation, which premieres in October 2026. Together, the releases will drive a coordinated cross-media expansion designed to broaden the franchise’s global reach and give fans new ways to experience the world of Overgeared
“WEBTOON is where global fandoms begin, and with this investment we’re taking a more direct role in growing stories into global franchises,” said Junkoo Kim, Founder & CEO of WEBTOON Entertainment. “Games are one of the most immersive forms of fandom, and building them from stories fans already love is a powerful way to reach new audiences everywhere. This strengthens our track record of turning original stories into global franchises across animation, television, film, publishing, and now games.”
RI Games Holdings was founded in 2022 by Kevin Tail Han, who also founded Redice Studio, the webcomic studio behind some of the biggest titles in webcomics, including Solo Leveling and Omniscient Reader (aka ORV).RI Games Holdings develops games for players around the world, with a team of top developers whose track record includes MapleStory M, Tower of God: New World, The Seven Deadly Sins: Grand Cross, Lineage W,and Aion 1, among others.
