Korean Game Developer OnNet Establishes European Office in Berlin

By Germany Trade And Invest, PRNE
Monday, October 18, 2010

BERLIN, October 19, 2010 - Korean game developer OnNet announced today that its office in
Berlin will serve as the company's new European headquarters. OnNet, which
commenced business operations here in May, has expanded its team in the
meantime and today officially assumes the role of publisher from the German
capital. Germany Trade & Invest supported OnNet with its decision to invest
in Germany.

With over 21 million gamers in Germany and 62 million internet
users, the German market remains Europe's largest and most attractive.
OnNet's decision to base its European office in Germany is a testament to the
market's appeal. The company will provide its game services in German, French
and Spanish to serve each of these language markets from its new location.

David Chang, CEO of OnNet Europe GmbH: "Locally serving
Germany's gaming market is essential for us to continue to grow in Europe. At
the same time, Berlin provides the ideal base to reach gamers across the
continent. Germany's high-tech communications infrastructure is one of the
world's best and its pool of highly skilled workers is first class."

Posting growth rates as high as 47 percent in some industry
segments in recent years, the gaming industry set a record with revenues of
EUR 2.7 billion in 2008. Revenues dropped slightly in 2009 to EUR 2.4 billion
during the global economic downturn, although several segments remained
immensely popular, especially online gaming.

Several international gaming companies, primarily from the USA
and Asia, have already established a presence in Germany. For developers and
publishers, market entry conditions remain highly attractive, as the German
market is not dominated by large companies that control large market shares.
The structure of the industry here is characterized by small and medium
enterprises. Of the 200 game developer studios in Germany, only 25 have more
than 50 employees.

Germany's position in the center of Europe and ultra-modern
broadband network allow companies like OnNet to direct their European
operations from Germany. Highly trained workers provide a further strategic
advantage for the innovation-dependent gaming industry. German universities,
technical institutes, and the country's dual education system ensure a
quality education and provide companies with qualified employees at
competitive costs. Today several higher education institutions, such as the
Games Academy in Frankfurt and Berlin or the HTW University of Applied
in Berlin, offer gaming industry-related fields of study such as
game design, development and production.

OnNet Europe GmbH (www.gamescampus.eu) provides
downloadable internet games, playable on the PC, and game content via its
website portal. Its first games localized to the German-speaking market will
be available this fall. Germany Trade & Invest, in close cooperation with
Berlin Partner, the agency for business development and location marketing
for Berlin, supported OnNet with its plans to expand to Germany. Both
agencies assisted the company with financing solutions and the search for a
suitable location for OnNet's new office in Europe.

Germany Trade & Invest is the foreign trade and inward
investment promotion agency of the Federal Republic of Germany. The
organization advises foreign companies looking to expand their business
activities in the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.

    Germany Trade & Invest
    Robert Scheid
    Email: robert.scheid@gtai.com
    T: +49(0)30-200099-170
    F: +49(0)30-200099-111

Germany Trade & Invest: Robert Scheid, Email: robert.scheid at gtai.com , T: +49(0)30-200099-170, F: +49(0)30-200099-111.

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