NCsoft Forms Subsidiary in China

SEOUL, South Korea, March 24, 2006— NCsoft® Corporation (KSE:036570.KS), the world’s leading developer and publisher of online computer games, today announced the opening of NCsoft China, a wholly owned subsidiary in Shanghai, China.

The new company is a result of NCsoft’s acquisition of a 51 percent equity stake in NC Sina, a joint venture formed by NCsoft and Sina.com in 2003. NCsoft China now becomes a wholly owned subsidiary of NCsoft and will strengthen the company’s content development and publishing power in the ever-growing Chinese game market.

NCsoft China will not only provide services for existing games created by NCsoft’s global network to the Chinese market but also will develop and publish new games that will appeal to Chinese gamers’ interests.

NCsoft currently has branch offices in the United States, Europe, Japan, China, Taiwan and Thailand for overseas services. It also has established NCRC (NCsoft Research and Development Center) in Beijing, China and NCsoft Japan in Osaka, Japan to reinforce the company’s global network for content development under its commitment to “global infrastructure, local content.”

About NCsoft Corporation

Headquartered in Seoul, South Korea, NCsoft Corporation is the world’s leading developer and publisher of online games. Founded in 1997, NCsoft is home to Lineage®, the world’s most successful online role playing game and also to Lineage 2, City of Heroes®, City of Villains™ and Guild Wars®. In coming months, NCsoft is poised to launch other massively multiplayer titles including Auto Assault® and Guild Wars Factions™ in addition to various casual games via its game portal, PlayNC™. NCsoft has offices in North America, the United Kingdom, Japan, Taiwan, China and Thailand. In fiscal year 2005, NCsoft posted revenues of KRW 338 billion or approximately US$346 million. For more information about NCsoft visit http://www.ncsoft.com or http://www.PlayNC.com.