The government is considering a plan to transfer a sizable stake in game studio Nexon’s holding company, NXC, to a Korean-style sovereign wealth fund being set up by the Lee Jae Myung administration, in an apparent move to use the government-held stake for national interests rather than selling it to foreign capitals including China’s Tencent. According to government officials, Monday, the government is exploring various fundraising options for the proposed wealth fund worth 20 trillion won ($13.67 billion), including transferring government-held tax-accepted corporate stocks into the fund as an investment in kind. Of them, the largest chunk will be the approximately 30 percent stake of NXC valued at 4.7 trillion won. The government acquired the stake after the family of Nexon founder Kim Jung-ju transferred the shares as part of their inheritance tax payment following his death in 2022. So far, the government has tried to sell the stake through four rounds of open bidding, but all failed due to the deal’s size and the fact that the stake does not provide control of the company. T