On May 21, Shift Up held an IPO press conference in Seoul, officially announcing its plan to go public in July 2025. The move has generated significant anticipation, as the studio is poised to become the first Korean game company since KRAFTON (2021) to reach a trillion KRW valuation if successful.

According to CEO Kim Hyung-tae, funds raised through the IPO will be used to expand existing IPs and accelerate development on its new flagship project—Project Spirits (formerly known as Project Witches), a next-generation AAA subculture RPG targeting a 2027+ release.

Project Spirits: Concept and Identity
Previously referred to as Project Witches, Project Spirits is described as a cross-platform Eastern Fantasy RPG interwoven with “subculture” influences. Developed using Unreal Engine 5, the game emphasizes cinematic storytelling, immersive combat, and character-centric worldbuilding.

Currently in early development, the project is staffed by a core team of 18 developers, with recruitment rapidly accelerating as the studio prepares for a 2025 IPO to raise approximately $23 million for further expansion.

Design & Narrative Focus: What Job Listings Reveal

Detailed recruitment descriptions offer clear insight into the game's intended style and structure:

Cinematic, Emotion-Driven Storytelling

Previsualization artists are tasked with designing emotionally impactful scenes using dynamic animation and VFX techniques inspired by film and anime.
Narrative pacing will mirror Shift Up’s earlier works, requiring familiarity with dialogue-driven gameplay and episodic content structures.

Character-Driven Lore and Worldbuilding

Writers are expected to develop a wide range of memorable characters within an Eastern Fantasy setting, building interconnected storylines across both main and side narratives.
All applicants must understand Shift Up’s established character aesthetics, with an emphasis on expressive, iconic heroes.

Open-World and JRPG-Inspired Systems

Designers are being recruited to integrate JRPG-style mechanics into a large, interconnected world that supports exploration and narrative progression.
Creature and environment artists must align designs with the game’s mystical, folklore-inspired themes.