Krafton

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A South Korean video-game publisher and holding company best known internationally for PUBG: Battlegrounds.

Last updated August 21, 2026

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Overview

Krafton is a South Korean video game developer, publisher, and holding company headquartered in Seoul, South Korea. Founded in 2018 as the successor to Bluehole Studio, it is best known for developing PUBG: Battlegrounds. Krafton owns multiple game studios, including PUBG Studios, Striking Distance Studios, and Unknown Worlds Entertainment, and its business spans game development, publishing, and intellectual property management.

History

Krafton's history begins with Bluehole Studio, founded in Seoul in March 2007 by Chang Byung-gyu. Bluehole initially pursued online games and expanded its development capabilities through studio formation and acquisitions. One important acquisition was Ginno Games, a company founded by Kim Chang-han. Bluehole purchased the studio in 2015, after which it became Bluehole Ginno Games. Kim Chang-han approached Brendan Greene to develop Greene's battle-royale concept into a complete commercial game. The resulting PlayerUnknown's Battlegrounds entered early access in March 2017 and rapidly attracted a global audience. Its success transformed Bluehole's scale, encouraged international office openings, attracted investment from Tencent, and created the foundation for a broader corporate structure. Bluehole Ginno Games was renamed PUBG Corporation in September 2017. PUBG Corporation later operated offices and teams outside South Korea and managed the growth of the PUBG brand across PC, console, mobile, and esports contexts. On 5 November 2018, Bluehole created Krafton as a holding company for its game properties and subsidiaries. Kim Chang-han, who had led PUBG Corporation, became Krafton's chief executive. The group subsequently reorganized its studios under the Krafton Game Union concept, allowing separate teams to retain development identities while sharing corporate ownership, publishing resources, and intellectual-property strategy. Krafton expanded through both acquisitions and internal incubation. It acquired or added teams including Dreamotion, Thingsflow, Unknown Worlds Entertainment, 5minlab, and Neon Giant. It also created new teams such as Krafton Montreal Studio and ReLU Games. This portfolio broadened the company beyond battle royale into survival, simulation, strategy, narrative action, horror, casual mobile, and experimental games. Regional publishing and regulation became important parts of Krafton's history. After India banned PUBG Mobile in 2020, Krafton reclaimed control of the PUBG intellectual property for the Indian market from Tencent and released Battlegrounds Mobile India in 2021. The company also developed and launched New State Mobile, a futuristic mobile entry in the PUBG universe. Krafton announced an initial public offering in 2021 and listed on the Korea Exchange on 10 August of that year. Its subsequent strategy emphasized building several globally recognizable franchises rather than relying exclusively on one title. The Callisto Protocol, Moonbreaker, Subnautica projects, inZOI, and projects based on Korean literary properties formed part of that diversification. In 2024, Krafton announced its acquisition of Tango Gameworks and the Hi-Fi Rush intellectual property after Microsoft's closure of the studio. The transaction made Tango Krafton's first Japan-based subsidiary and supported plans for additional Hi-Fi Rush projects. Krafton remains an active, publicly listed international game publisher and holding company.

2024
Tango Gameworks joins Krafton
[1]Kraftonen.wikipedia.org
Krafton announced the purchase of Tango Gameworks and the Hi-Fi Rush intellectual property from Microsoft Gaming.
2022
The Callisto Protocol launches
[1]Kraftonen.wikipedia.org
Striking Distance Studios released its first game, the science-fiction survival-horror title The Callisto Protocol.
2021
Krafton goes public
[1]Kraftonen.wikipedia.org
Krafton completed its initial public offering and began trading on the Korea Exchange.
2020
PUBG Corporation becomes PUBG Studios
[1]Kraftonen.wikipedia.org
PUBG Corporation was merged into Krafton's internal studio organization and rebranded PUBG Studios.
2018
Krafton is established
[1]Kraftonen.wikipedia.org
Bluehole created Krafton on 5 November as the parent company for its game studios and intellectual property.
2017
PUBG enters early access
[1]Kraftonen.wikipedia.org
PlayerUnknown's Battlegrounds entered early access and rapidly became Krafton's defining global property.
2015
Bluehole acquires Ginno Games
[1]Kraftonen.wikipedia.org
Bluehole acquired Ginno Games, the studio that would develop PUBG with Brendan Greene.
2007
Bluehole Studio is founded
[1]Kraftonen.wikipedia.org
Chang Byung-gyu founded Bluehole Studio in Seoul, establishing the business that later became the foundation of Krafton's corporate group.

Products and positioning

Global video-game developer, publisher, holding company, and owner of game intellectual property.

Battle royale / live-service game · 2017
PUBG: Battlegrounds
Krafton's flagship battle-royale game, developed originally by the team now known as PUBG Studios. Players compete in large-scale matches in which they search for equipment, survive a shrinking play area, and fight to become the final individual or team. The title is available across PC and consoles and supports ongoing seasonal, competitive, and live-service content.
Mobile battle royale · 2018
PUBG Mobile
A mobile adaptation of the PUBG experience operated through regional publishing arrangements. Tencent handled important international publishing functions during part of its history, while Krafton later took direct control of the Indian intellectual property and launched a locally tailored successor under the Battlegrounds Mobile India name.
Mobile battle royale · 2021
New State Mobile
A mobile-first PUBG universe title set in a technologically advanced future. It adds futuristic equipment, drones, shields, weapon customization, vehicle systems, and new squad mechanics to the established battle-royale formula. The project was initially announced as PUBG: New State and was renamed New State Mobile in 2022.
Survival horror · 2022
The Callisto Protocol
A narrative-driven survival-horror game developed by Striking Distance Studios. It uses a science-fiction setting centered on the Callisto moon and emphasizes close-quarters combat, environmental danger, and cinematic storytelling. Although initially discussed in relation to the PUBG universe, the released game became a separate property.
Survival adventure · 2018
Subnautica
A survival-adventure franchise developed by Unknown Worlds Entertainment. Its games place players in alien aquatic environments and combine exploration, resource gathering, crafting, construction, and environmental storytelling. The franchise became part of Krafton's portfolio when Krafton acquired Unknown Worlds.
Turn-based strategy · 2022
Moonbreaker
A science-fiction turn-based strategy game developed by Unknown Worlds Entertainment. It combines tactical tabletop-style encounters with collectible crews and a setting created in collaboration with author Brandon Sanderson. The game expanded Krafton's portfolio into a more deliberately strategic and miniature-inspired format.
Life simulation
inZOI
A life-simulation game developed by Krafton's inZOI Studio. The project focuses on creating and managing simulated characters and environments, representing Krafton's effort to build new globally marketable intellectual property outside the PUBG franchise.
Action rhythm game · 2023
Hi-Fi Rush
An action game developed by Tango Gameworks and acquired by Krafton together with the studio in 2024. The game synchronizes combat and movement with music and previously belonged to Microsoft's gaming portfolio. Krafton stated that it intended to support continued development of the intellectual property.

Controversies

2022
Krafton sues over Free Fire distribution
Krafton filed a lawsuit in the United States against Apple, Google and others concerning the distribution of Free Fire and Free Fire MAX. Krafton alleges the games infringe its copyrights and says it had asked Apple and Google to stop distributing and selling them; the article says the companies had not responded as far as was known.
Source
2022
Krafton sues Apple and Google over sales of alleged game copies
Krafton filed a U.S. lawsuit alleging that a Singapore-based company made rip-off versions of its game and that Apple and Google refused to stop selling them.
Source

2021Battlegrounds Mobile India launch
India
Following India's 2020 ban of PUBG Mobile, Krafton reclaimed regional control of the PUBG intellectual property and launched Battlegrounds Mobile India with a local publishing and operating structure.
Outcome. The game returned the PUBG-style mobile experience to the Indian market under Krafton's direct publishing control.
Source
2020G-Star 2020 participation
South Korea
Krafton used the G-Star event to promote its upcoming multiplayer title Elyon and PUBG-related entertainment programming involving celebrities and streamers.
Outcome. The campaign increased showcase and community visibility for Krafton's Korean portfolio.
Source

Brand decisions

2024
Acquire Tango Gameworks and Hi-Fi Rush rightsM&A
Background
Microsoft Gaming had announced the closure of Tango Gameworks earlier in 2024.
Action taken
Krafton acquired Tango Gameworks and the Hi-Fi Rush intellectual property, while earlier Tango properties remained with Microsoft-related rights holders.
Aftermath
Tango became Krafton's first Japan-based subsidiary, and Krafton announced plans to explore further Hi-Fi Rush projects.
Source
2021
List Krafton on the Korea ExchangeOther
Background
Krafton pursued public-market funding after several years of rapid growth driven by PUBG.
Action taken
The company completed its initial public offering and began trading on 10 August 2021.
Aftermath
Krafton became a publicly traded game publisher and gained a broader capital base for acquisitions and development investment.
Source
2020
Reorganize PUBG Corporation as PUBG StudiosStrategy
Background
Krafton sought to integrate PUBG development more closely with its wider studio network.
Action taken
PUBG Corporation was merged into Krafton's internal studio system and renamed PUBG Studios.
Aftermath
PUBG Studios became the principal internal development organization for the PUBG franchise.
Source
2018
Create Krafton as the parent company for Bluehole studiosStrategy
Background
PUBG's success had expanded Bluehole's investment, publishing, and studio footprint, creating a need for a unified corporate structure.
Action taken
Bluehole established Krafton on 5 November 2018 and placed its game properties and subsidiaries under the new holding-company identity.
Aftermath
Krafton became the group's international corporate and publishing brand while individual development teams continued operating under studio identities.
Source

Recent events

2026-10-17
KRAFTON launches Battlin tournament platform in India[8]KRAFTON 在印度推出 Battlin 锦标赛平台aninews.in
Reported: 2026-10-17
KRAFTON unveiled Battlin, a mobile-first, BGMI-first tournament platform for competitive gaming in India, bringing tournament discovery, registration, hosting, results and reward disbursement together in one place.
2026-02-23
KRAFTON appoints Kangwook Lee as chief AI officer[9]KRAFTON 任命李康旭为首席 AI 执行长n.yam.com
Reported: 2026-10-24
KRAFTON announced the appointment of its AI lead, Kangwook Lee, as chief AI officer, a newly established senior executive position overseeing the company's AI research and mid- to long-term innovation strategy.
2022-01-15
Krafton sues over Free Fire distribution[3]Krafton sues over Free Fire distributionhoustonianonline.com
Reported: 2022-01-15
Krafton filed a lawsuit in the United States against Apple, Google and others concerning the distribution of Free Fire and Free Fire MAX. Krafton alleges the games infringe its copyrights and says it had asked Apple and Google to stop distributing and selling them; the article says the companies had not responded as far as was known.
2022-01-13
Krafton takes legal action over PUBG-like games[4]Krafton sues over Free Fire distributionubergizmo.com
Reported: 2022-01-14
Krafton took legal action against Apple, Google, and Garena over PUBG-like games. Krafton alleged that Garena created Free Fire and Free Fire Max as PUBG clones and that Apple and Google helped distribute them; Krafton sought damages and profits from Apple and Google.
Unconfirmed
Krafton sues Garena, Apple and Google over Free Fire[6]Krafton sues Apple and Google over sales of alleged game copiesgamesindustry.biz
Reported: 2022-01-13
Krafton filed suit against Garena, Apple and Google, alleging that Free Fire and Free Fire Max infringe its PUBG-related intellectual property and that the app marketplaces are liable for hosting the apps.
2022-01-13
Krafton sues Apple and Google over sales of alleged game copies[5]Krafton sues Apple and Google over sales of alleged game copiesmactech.com
Reported: 2022-01-13
Krafton filed a U.S. lawsuit alleging that a Singapore-based company made rip-off versions of its game and that Apple and Google refused to stop selling them.
2022-01-10
Krafton sues Garena, Apple and Google over Free Fire[10]Krafton 就 Free Fire 起诉 Garena、Apple 和 Googlepocketnow.com
Reported: 2022-01-14
Krafton filed a lawsuit against Garena, Apple and Google. Krafton accused Garena of using copyrighted aspects of PUBG: Battlegrounds in Free Fire, and accused Apple and Google of distributing the allegedly infringing versions. These are allegations reported in the source.
2022-01-10
Krafton sues Garena, Apple, Google and YouTube over alleged game copying[7]Krafton sues Apple and Google over sales of alleged game copiestechcrunch.com
Reported: 2022-01-13
Krafton filed a U.S. lawsuit against Garena, Apple, Google and YouTube alleging copyright infringement involving Garena's Free Fire games and the hosting or distribution of related material. The allegations are claims, not a court determination. Garena called Krafton's claims groundless.
Unconfirmed
Tamatem Games raises $11 million in Series B funding[11]Tamatem Games完成1,100万美元B轮融资arabnews.com
Reported: 2021-12-06
Tamatem Games raised $11 million in a Series B funding round led by KRAFTON, with Venture Souq, Endeavor Catalyst and existing investors also participating. The investment is intended to support the company's regional expansion, initially focusing on Saudi Arabia.
2021-11-22
Sendbird chat integrated into Krafton's PUBG: NEW STATE[12]Sendbird聊天功能集成至Krafton的《PUBG: NEW STATE》prweb.com
Reported: 2021-11-22
Sendbird announced that its chat product had been integrated into Krafton's mobile game PUBG: NEW STATE, enabling live chat during gameplay and in the lobby. The game was live in 200 countries at the time of the announcement.

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