The company claimed it already has had good results from Pristontale 1 and Audition, a popular dance game. The game company said it is adding three games to its lineup: Pristontale 2, Laxe Lore and Shooro Online. Industry analysts say the stock of Yedang Online is undervalued compared with its South Korean peers. Internet-game company YedangOnline said it has seen its shares surge this year, but many analysts say the stock price could rise much more if the company succeeds with plans to roll out several new games this year.There are more than 33 million Ragnarok accounts registered worldwide although it is not clear how many of these accounts are currently in use. The minority shareholders include the foreign-controlled Ramius Capital. The official resigned and sold his 49-percent stake in the company to the new owners for $380 million. The issue reminds people of the time when Gravity founder and former chief executive Jung-Ryool Kim was accused to have siphoned off more than $9.1 million from the firm. The company was taken over by a consortium controlled by Japan's giant SoftBank Corporation last year. Gravity operates the multiplayer online game Ragnarok Online, which claims millions of subscribers worldwide. The minority shareholders have alleged that the new Japanese owners of the company may have licensed its most profitable game to a family-affiliated business at an unusually low price. Investors in Gravity, one of Korea's largest online gaming companies, said they have taken the firm's management to court to force them to reveal financial documents.It has already named one of the co-founders of company Lee Sang-gyu as head of Neowiz Japan. Neowiz, meanwhile, reported its move to send an executive to the North American market to conduct research. CJ Internet revealed it is also looking to an expansion into the North American market, propelled by success in the home market. The company said there is another $10 million allocated for NHN USA, which aims at aggressively marketing card web board games and online first person shooting game "Special Force." Nexon disclosed it is set to launch game portal service in the U.S., with the company planning to unveil "Audition," a hit online dance game enjoying phenomenal success in Taiwan and China as well as in the home market. for almost a year and it has invested on separate dates $2 million and another $10 million into the subsidiary. The game portal said it has been in the U.S. At the forefront of the market that is described as posting a 60-percent annual growth rate is NHN. Service providers are reportedly aiming for expansion into Europe and Latin America market. With game portals being a relatively new business model in the North American market, leading South Korean game portals such as NHN, Nexon and CJ Internet are competing for a market share in the fast-growing market.The alliance among the three had Hitachi with 50.1-percent stake, Toshiba with 33.4-percent, and Renesas with 16.5-percent. The reason given was that future earnings from the project would be limited. The announcement is a response to an earlier release stating that the three companies are about to abandon a plan to jointly manufacture chips. Hitachi disclosed that the company together with Toshiba and Renesas Technology will decide by the end of the month whether they will proceed with an earlier plan to jointly manufacture chips.KDDI has about 28 percent of the market, with Vodafone holding about 17-percent market share. DoCoMo said it now offers mobile phones that function as credit cards and music players a strategy that it claims will allow it to keep its 56-percent share of Japan’s 92 million subscribers. Softbank’s capacity to provide competition to KDDI and DoCoMo is also enhanced by the fact that it controls Yahoo Japan. Given their alliances, DoCoMo and KDDI have to contend also with Softbank Corp, which has acquired the Japanese unit of Vodafone for $15 billion in May and is expected to go into auctions and stock trading using the mobile phone. The move comes when more Japanese are going to the Internet via mobile phones. In a move that analysts see as a response to the KDDI-Google partnership, NTT DoCoMo disclosed that it may seek an alliance with online search engines.