Shanghai Shanda Networking Co Ltd said that it has prolonged its contract with South Korean online-game distributor Actoz Soft Co to operate the highly successful online-game Legend of Mir II in China for two more years.

That move ended a one-year-long royalty conflict between the two firms, meaning 80 million registered Mir II players can continue their legendary life on the Internet in September.

South Korea-based Actoz Soft licensed Shanghai Shanda two years ago to operate the online role play-ing game in China and the contract will expire at the end of this month.

According to the original contract, Shanda should pay 27 percent of its operating revenue to Actoz. But the South Korean company complained that it hasn't received any money since last August.

Shanda claimed that the South Korean company intentionally released the source codes for the game. Many other Website operators took advantage of the code to start similar services, which resulted in a decline in its revenue.

On the other hand, Actoz blamed Shanda for providing fake financial reports in order to reduce its royalty payments.

Actoz's president Lee Jong-hyun said Shanghai Shanda will first of all pay Actoz about US$15 million for the service between last August and this April. But the two parties are still negotiating royalty payments for the four months after April.

Close

Today's Top News		Top Business News
+WHO: Bird flu death rises to 15; vaccination recommended (2004-02-05) +Solana: EU ready to lift China arms embargo (2004-02-05) +Nation tops TV, cell phone, monitor production (2004-02-05) +Absence ... still makes China hot (2004-02-05) +Hu: Developing world in key role (2004-02-04)		+KFC: We operate normally in China despite bird flu outbreaks (2004-02-05) +Starbucks takes aim at China chain (2004-02-05) +Former Microsoft China chief gets new job (2004-02-05) +Private airline prepared for take off (2004-02-05) +Investors lured by call of siren (2004-02-05)