Game Park was a South Korean company that was founded in 1996 and went bankrupt in March 2007. It is responsible for creating the GP32 and the never-released XGP. GamePark Holdings was founded by former employees of Game Park in 2005.
Foundation
Founded in 1996 in South Korea, Game Park entered the industry using government money.[1] At the time, games in Korea were only made for PCs and Arcade. There was a law established after World War II that forbid importation of Japanese electronics. Some clones of Japanese consoles such as the Sega Saturn (cloned by Samsung) and Nintendo 64 (cloned by Hyundai) were holders of minor market shares. In a place where most games ran on the PC, a small place resided for video game consoles. To make changes, the South Korean government decided to fund a company that would create a console to compete against the monopolized Japanese market. A contest was held and Game Park was the winning company. Game Park was set to create the first portable video game system from Korea.