SEOUL, South Korea, Feb. 28 /Xinhua-PRNewswire-FirstCall/ -- Global online entertainment company WEBZEN, Inc. (Nasdaq: WZEN - News) today announced that it has signed an exclusive worldwide agreement with U.S.-based Red 5 Studios, Inc. to publish a new MMOG property. The contract was executed today at WEBZEN's headquarters in Seoul.

Creating tremendous industry buzz and anticipation since the company's inception in September 2005, Red 5 Studios was formed by key members behind Blizzard Entertainment®'s World of WarCraft®, including the game's Team Lead Mark Kern and Art Director William Petras and Online Director for Asia, Taewon Yoon.