A recent press release from Sega Sammy detailed that Sega Korea will be closing its doors. This follows the recent earnings report of the company which showed that it will be losing ¥26 billion (around US$ 260,580,266).

No official date has been released on when the subsidiary will be closed yet. According to the statement from Sega Sammy, "the liquidation procedure is to be taken promptly after resolution for dissolution at Sega Korea Ltd."

This is pretty bad news for gamers in Korea. Still, if this is what it takes to help get Sega Sammy back on track (and in the black) then it'll be worth it in the end.