The success of online games such as “Second Life” and “World of Warcraft” shows the popularity of virtual worlds and reveals the economic systems embedded in them. A large number of players interact with each other in cyberspace, giving rise to an interesting phenomenon where players...

NHN Corp. is a top Internet portal operator in Korea. The Internet giant was created by merging Naver, the search engine company, with, Hangame, the game portal company, in early 2000s. The merger was evaluated as one of the most successful M&A s in Korea. Large user base and good cash flow of...