Alphabiz - Korean Government Earns ₩12.8 Billion in Dividends from NXC Shares Inherited from Late Nexon Founder

Photo courtesy of Yonhap News

[Alpha Biz= Kim Jisun] Seoul, October 7 – The South Korean government has received ₩12.78 billion (approximately $94 million) in dividend income from shares of NXC, Nexon’s holding company, which were inherited as part of the estate of the late Kim Jung-ju, founder of Nexon.


According to data submitted by the Ministry of Economy and Finance to Rep. Cha Kyu-geun of the Cho-Guk Innovation Party, the ministry has collected dividends totaling ₩12.78 billion since acquiring 851,968 shares of NXC through a tax-in-kind payment.


Following Kim’s death in 2022, his family paid approximately ₩6 trillion (about $4.4 billion) in inheritance tax, part of which was settled by transferring NXC shares to the government.


Since receiving the shares, the finance ministry has earned dividend income three times:

₩3.41 billion in April 2023 (₩4,000 per share)

₩4.26 billion in December 2023 (₩5,000 per share)

₩5.11 billion in April 2024 (₩6,000 per share)


Although the government faces challenges in liquidating such a large equity stake, it continues to secure stable dividend returns from its holdings in NXC.

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)