KRAFTON Shares Tumble After Lifetime Bans for Vietnamese PUBG Players

Shares of South Korean publisher KRAFTON have plummeted to a 52-week low, shedding over US$150 million in market capitalization amid a controversy involving two prominent Vietnamese PUBG players. The publisher of PUBG: Battlegrounds closed at 198,000 won ($145.32) per share during Wednesday's trading session, a nearly 2% decline from the previous day. This drop brings the company's total market capitalization to approximately 9.1 trillion won. Compared to September 17, when the stock traded at 203,000 won per share, the gaming giant's market value has declined by $153.9 million. This drop coincides with an ongoing controversy surrounding the 2026 PUBG Asia Stars, an exhibition tournament. The event, which began on September 17 with 48 participants from six Asian regions, was affected by cheating allegations following the first day of competition. Controversy erupted when Soopi, a South Korean streamer, accused Vietnamese players Himass and TanVuu of stream sniping, a prohibited act involving the use of external live broadcasts to gain tactical advantages. The allegations prompted backlash from South Korean players and streamers, forcing KRAFTON to cancel the third day of competition, bringing the tournament to a premature end, Chosun Daily reported. Following a review of official broadcasts, player footage, and in-game data, KRAFTON issued a follow-up announcement confirming that both Himass and TanVuu had used external information by stream sniping during matches. The publisher maintained its zero-tolerance policy regarding such actions, stating that the two players violated multiple rules concerning fair play, abusive behavior, and professional responsibility. KRAFTON then imposed some of the most severe penalties in the history of the PUBG Esports ecosystem. The publisher permanently banned the game accounts of Himass and TanVuu and issued lifetime bans, preventing both players from participating in any official PUBG tournaments worldwide. These sanctions also prohibited the players from major international events such as the PUBG Global Championship and the PUBG Nations Cup, though they have the right to formally appeal the decision, according to Seoul Economic Daily. KRAFTON emphasized that professional players are held to the highest standards of fairness, responsibility, and sportsmanship. Despite the recent stock market struggles, financial records indicate that KRAFTON's shares were already experiencing a downward trend prior to the controversy. The share price had previously dropped over 12% from 231,000 won on September 1 to 203,000 won by September 16 and 14% by September 23. The company's financial performance remains robust. During the second quarter of 2026, KRAFTON generated a 94.9% year-over-year revenue increase to reach 1.29 trillion won, alongside a 67% increase in profit. Revenue generated directly from the PUBG ecosystem grew by 25% during the first half of the year, indicating positive business growth despite the ongoing drama and pressure.