Source: Clover Games

Mobile game developer Clover Games (CEO Yoon Sung-guk) announced that it officially filed for corporate bankruptcy with the local court on the 9th, unable to overcome persistent financial deterioration and the depletion of its capital. Consequently, all games currently serviced by the company will be shut down on May 9.

Clover Games has received significant support from domestic and international users through titles such as 'Lord of Heroes', 'HeavenHells', and 'Ayakashi Rise', but has faced a cycle of cumulative deficits amid intensifying competition in the gaming market.

In particular, CEO Yoon Sung-guk had been fighting to secure liquidity, personally investing over ₩3 billion of his own funds over the past three years in a desperate attempt to keep the game services running. Despite these exhaustive self-rescue efforts, the company reached a point of total capital impairment due to insurmountable financial depletion, leading to the bankruptcy filing.

The company proactively blocked all in-app purchases on the 6th to prevent further financial loss for users. Furthermore, rather than an immediate shutdown, it has decided to keep servers running for approximately one month until 23:00 on Saturday, May 9. However, the company noted that there is a possibility of an earlier termination depending on the terms of service of third-party server providers or their decision to cut off access following the commencement of bankruptcy proceedings.

Clover Games CEO Yoon Sung-guk bowed his head, stating, "I did everything in my power to continue the service, and I apologize for having to deliver this painful news that we can no longer provide a complete service to the end."