Korean MMO Firm LTime Secures $2.2M Investment

Korean online game developer LTime Games recently secured ₩2.5 billion ($2.2 million) of capital from Knet Investment Partners and IMM Investment, which the firm will use to fund its upcoming MMORPG Wind Runner. Based in Seoul, the company was founded in June 2009 by veterans from local MMO companies such as NCsoft, Nexon, and MGame. This is LTime's second round of funding -- last year, the company picked up ₩700 million won ($629,300) from investors. Very little is known so far about the developer's first project, Wind Runner (previously known as Project W), other than it will be a 3D MMORPG with with action elements. The title will likely feature a free-to-play business model, as with most other modern Korean MMOs. "We are very pleased to receive funding from partners with experience and insight on ventures," says LTime Games CEO SungHyun Baek, according to a report on Korean industry news site This Is Game. LTime hasn't yet revealed a release date for Wind Runner or a timetable for when it would make such an announcement, but Baek promises "We will do our best to introduce a friendly but brand new online game as soon as possible."