Here is your Forbes Daily Briefing for Friday, July 12th.

Today on Forbes, founder of Korean Gaming Company becomes billionaire as shares surge on listing.

In one of the most highly anticipated... as shares

on online game developer shift up,

sword in the Sword in their trading debut Thursday, making its founder and CEO Kim Jong-Tay a billionaire.

The company's shares closed its 71,000 South Korean One on their first day of trading on the Korea exchange, up 18% from the offering price.

That gives shift up a valuation of around 4.1 trillion, about 3 billion U.S. dollars, making it the fourth biggest online gaming company listed

in South Korea by market capitalization after Crafton, Net Marble, and NC Soft.

Kim, who is 45 years old, is the largest shareholder of Shift Up, with a 39% stake in his own name.

His wife, Che G. Eun, holds a nearly 0.5% stake in the company.

Forbes estimates Kim and his wife's net worth at $1 billion.

Shift Up raised $435 billion, about 320 million dollars, in an initial public offering of 7.25 million shares at 60,000 one a piece, the top of its indicative range.

Shift Up will use the proceeds of the IPO to develop new games and expand popular titles

such as Goddess of Victory, Nike, and Stellar Blade.

The shift-up IPO is the second biggest in South Korea this year,

following KKR-backed HD-Hundi Marine Solutions 742 billion won offering in May, and the country's largest

gaming IPO since Crafton's 4.3 trillion won float in 2021.

Investors that backed shift up before its IPO include Tencent,

Online Game Mogul Park Juan Ho's We Made, Kaku Ventures, the venture capital

arm of Korean billionaire Kim Bion-Soon's internet giant Kaku.

Korean Energy Conglomerate Desung Group's Private Equity Arm, whose portfolio includes Korean online game developers Crafton and Pearl Abyss,

Smilegate Investment, the venture capital arm of Game Giant Smilegate,

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