NC Corp (036570.KS): Key Highlights From Investor Call: A Detail Look Into NC‘s Mobile & AI Strategies

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NC Corp (036570.KS): Key Highlights From Investor Call: A Detail Look Into NC‘s Mobile & AI Strategies

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01 Jul 2026 00:56:39 ET │ 11 pages

NC Corp (036570.KS)

Key Highlights From Investor Call: A Detail Look Into NC’s Mobile & AI

Strategies

CITI’S TAKE Buy

We recently hosted an exclusive call with NC Co-CEO Byung-Moo Park Price (30 Jun 26 15:45) W257,500

and Head of Mobile Casual Center Anel Ceman in which management Target price W405,000

presented on the company’s mobile casual game strategies and AI in

Expected share price return 57.3% gaming prospect. NC management articulated clearly the company’s

philosophy in investing mobile casual business and positioned it as one of Expected dividend yield 0.6%

the growth pillars to achieve its 2030E revenue target under a diversified Expected total return 57.9%

and predictable path, creating synergies that NC could bring for the entire Market Cap W5,547,586M

mobile casual segment through its ecosystem and scale advantages. US$3,619M

Mgmt also elaborated its commitment in AI investments to bring higher

efficiency and deliver differentiation in distribution, live-ops, data and

efficient user acquisition. Following consolidation of JustPlay starting

2Q26E, we expect this would further strengthen NC’s mobile casual Alicia Yap, CFAAC

ecosystem driving meaningful revenue growth at measurable margin +852-2501-2773

profile. Reiterate Buy with TP KRW405,000 and our Korean gaming alicia.yap@citi.com

preferred pick status. Peter Lee

+82-2-3705-0720

Mobile casual as one of three strategic pillars for NC – As NC has guided KRW5trn peter.sc.lee@citi.com

revenue target by 2030E, mobile casual business is positioned as a new growth Nelson Cheung

engine which outlined a diversified and predictable path to achieve NC’s 2030 target.