South Korea’s Hybe IM Raises $21 Million for Video Game Publishing and Development, Including K-Pop Artist IP

South Korean company Hybe Interactive Media (IM) has received a new investment of approximately $21 million (30 billion in won) for its young gaming business.

Hybe IM cites its potential to expand as a game business through using parent company Hybe’s K-pop artist IPs, as well as anticipation for its games “Architect: Land of Exile” and “Arkheron,” as key drivers for the new investment. The company says funds will be primarily used for marketing, operations and localization strategies for the launch and live service of Hybe games.

This latest round of funding for the Hybe-owned entity comes on the heels of a roughly $80 million strategic investment Hybe IM received in August 2024. In total, Hybe IM has now raised approximately $100 million from backers including IMM Investment, Shinhan Venture Investment and Daesung Private Equity.

Since launching in 2021, Hybe IM has found success with its earliest titles like “Rhythm Hive” and “BTS Island: In the SEOM,” followed by a quickly growing lineup that includes publishing contracts for Macovill’s “OZ Re:write” and Flint’s “ASTRA: Knights of Veda.”

Per the company, “Hybe IM remains committed to building a sustainable gaming ecosystem, prioritizing the stable operation and growth of its titles through its global publishing expertise.”

“This additional funding marks a pivotal moment in strengthening Hybe IM’s global competitiveness in both game publishing and development,” Hybe IM president Wooyong Chung said. “We aim to evolve beyond IP-based gaming and become a next-generation publisher delivering compelling content to gamers worldwide.”

Hybe IM is one of Hybe’s multiple subsidiaries, including Big Hit Music, Belift Lab, Source Music, Pledis Entertainment, KOZ Entertainment and ADOR.