Document:

EX-10.5

 Exhibit 10.5 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [**], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE
HARM TO THE REGISTRANT, IF PUBLICLY DISCLOSED. 
 First Amendment to Game License Agreement 

DoubleU Games Co., Ltd. (“Licenser”) and The8Games Co., Ltd. (“Licensee”) enter into an amendment agreement as follows regarding the
‘Game License Agreement’ (“Existing Agreement”) which was concluded on March 7, 2018. 
 “Licensor” and
“License” shall, under mutual agreement, make the following change to the ‘Article 5 (a)License Fee’ of the “Existing Agreement.” 
  

					
	 Article
	  	 Before the change
	  	 After the change

			
	 5.COMPENSATION.
  

(a)License Fee.
	  	 (a) Licensee Fee. In consideration of the license granted hereunder, Licensee will pay to Licensor a license fee
equal to [******] of the Net Sales of any Licensed Game or Sequel accrued during each calendar month after the date of commercial launch of a Licensed Game or a Sequel, serviced by Licensee (or the third party who concluded the sublicense
agreement with Licensee) (the “License Fee”). The License Fee may be adjusted by written agreement signed by the Parties.
	  	 (a) Licensee Fee. In consideration of the license granted hereunder, Licensee will pay to Licensor a license fee
equal to [******] of the Net Sales of any Licensed Game or Sequel accrued during each calendar month after the date of commercial launch of a Licensed Game or a Sequel, serviced by Licensee (or the third party who concluded the sublicense agreement
with Licensee) (the “License Fee”). The License Fee may be adjusted by written agreement signed by the Parties.

 The contents of this amendment agreement shall apply from the date of conclusion of this amendment agreement, and the contents
of this amendment agreement other than the change shall be in accordance with the Existing Agreement. 
 {Signature Page follows} 

 To prove this, the “Licensor” and the “License” shall prepare, sign-seal two copies of
this Agreement, and keep one copy each. 
 1 July 2019 

 

	
	“Licensor”
	DoubleU Games Co., Ltd.
	
	Representative Director, Kim Ga-rham
	(sealed)

  

	
	“Licensee”
	The8Games Co., Ltd
	
	Representative Director, Kim Young-uk
	(sealed)EX-10.6

 Exhibit 10.6 

Second Amendment to Game License Agreement 

DoubleU Games Co., Ltd. (“Licenser”) and The8Games Co., Ltd. (“Licensee”) enter into an amendment agreement as follows regarding the
‘Game License Agreement’ (“Existing Agreement”) which was concluded on March 7, 2018 and changed by the ‘First Amendment to Game License Agreement’ on July 1, 2019. 

“Licensor” and “License” shall, under mutual agreement, make the following change to the ‘Article 8 (a)Term’ of the
“Existing Agreement.” 
  

					
	 Article
	  	 Before the change
	  	 After the change

			
	 8.TERM.
 (a)Term
	  	 (a) Term. This Agreement shall become effective on the Effective Date and shall continue in full force and
effect, unless terminated by either Party with thirty (30) days’ prior written notice to the other Party or as provided in Section 8(b) or 8(c) (the “Term”).
	  	 (a) Term.
 (i) The term of this Agreement
shall be five years from its effective date. However, unless otherwise agreed by Licensor or Licensee no later than 30 days prior to the expiration of this Agreement, this Agreement shall be automatically renewed annually under the same
conditions.
  
 (ii) During the term of this Agreement, if (A) the situation in
which Licensor, directly or indirectly, holds a valid or lawful possession of Licensee’s shares, terminates; or (B) the situation in which Licensee directly or indirectly, holds a valid or lawful possession of shares of DoubleDown
Interactive, LLC, established in Washington, USA, Licensor and Licensee will mutually renegotiate the term of this Agreement.

 The contents of this amendment agreement shall apply from the date of conclusion of this amendment agreement, and the contents
of this amendment agreement other than the change shall be in accordance with the Existing Agreement. 
 {Signature Page follows} 

 To prove this, the “Licensor” and the “License” shall prepare, sign-seal two copies of
this Agreement, and keep one copy each. 
 27 November 2019 
  

			
	“Licensor”	  	“Licensee”
	DoubleU Games Co., Ltd.	  	The8Games Co., Ltd
		
	Representative Director, Kim Ga-rham
(sealed)	  	Representative Director, Kim Young-uk
(sealed)EX-10.7

 Exhibit 10.7 

Loan Agreement 
 The creditor
DoubleU Games Co., Ltd. (hereinafter referred to as “A”) and the debtor The8Games Co., Ltd. (hereinafter referred to as ‘B’) enter into a loan agreement as follows. 

‘A’ is willing to lend ‘B’ an amount of KRW 35 billion and this agreement will be concluded to secure the performance of the debt.

 [Preamble] 
 Article 1 (Purpose of
Agreement) 
  

	1.	 This Agreement is intended to determine all the details of loan agreement between ‘A’ and
‘B’. 

  

	2.	 ‘A’ and ‘B’ both recognize and agree that the loans in this Agreement will be used to repay
borrowings from financial institutions for shareholder loans and equity investments in DoubleU Diamond LLC for the purpose of acquiring the US corporation, Double Down Interactive LLC. 

Article 2 (Terms of Transaction) 
 ‘A’ lends KRW
35,000,000,000 (KRW 35 billion) to ‘B’ and ‘B’ borrows it. 
 Article 3 (Interest) 

 

	1.	 Interest on the loan shall be 4.6 percent per annuum. 

 

	2.	 ‘B’ pays interest under paragraph1 to ‘A’ on every February 25th, May 25th, August 25th and
November 25th (hereinafter referred to as ‘interest payment date’). Provided, however, interest on the final interest period shall be paid on the repayment date, not 25th. If the interest payment date is not a business day, the payment
shall be made on the next business day but shall not include interest for the period after the interest payment date. 

  

	3.	 The interest rate on the loan can be changed by agreement of A and B. 

Article 4 (Repayment) 
  

	1.	 The repayment date of this loan shall be May 27th, 2024. 

 

	2.	 The loan and interest under Article 3 shall be repaid by the method of remittance to the bank designated by
‘A’. 

  

	3.	 ‘B’ may make an early repayment of all or part of the loan before the repayment date, if all of the
following conditions are met, and no early repayment fee will be charged. 

  

	 	1.	 Repayment of all B’s senior acquisition financing loans; 

 

	 	2.	 Conversion to common stock or repayment of entire convertible bonds and bonds with warrants of “B”.

  

	4.	 ‘A’ may ask ‘B’ for early repayment of all or part of the loan if all the conditions of
subparagraph 3 are met. 

 Article 5 (Overdue Interest) 

If ‘B’ fails to repay the amount which is due (including when the due has arrived as a result of an occurrence of an event of default) under this
Agreement, ‘B’ shall pay the overdue interest calculated by adding five percent per annuum (5.0%) to the interest rate under Article 3 in accordance with this Agreement for the overdue period, which shall be from the date of payment
obligation to the actual repayment date. 
 Article 6 (Events of Default) 
  

	1.	 If any event described in the following subparagraphs occurs with respect to ‘B’, ‘B’
immediately loses the benefit of time and shall pay the entire principle and interest to ‘A’, even if ‘A’ does not make any notice requiring performance of debt or notice of demand. 

 

	 	1.	 ‘B’ has delayed payment of interest pursuant to Article 3 for more than 3 months;

  

	 	2.	 If an application for commencement of compulsory execution procedure is made, or a preservative measure
(provisional attachment, injunction etc.) is taken, or any equivalent action is taken, with respect to the property of ‘B’; 

  

	 	3.	 In the event of insolvency, suspension of payments, default, etc. of ‘B’, or any event occurs which
would be a ground for dissolution or liquidation of ‘B’; 

  

	 	4.	 Any action of ‘B’ that undermines trust with ‘A’, such as transferring the company without
notice; 

  

	 	5.	 ‘B’ is unable to carry out its business in the reasonable judgment of ‘A’.

  

	2.	 If any event described in the following subparagraphs occurs with respect to ‘B’, ‘A’ may
make a demand for correction by specifying the reason and offering at least 7 days to cure. Nevertheless, if the correction is not made, an event of default would occur and the entire principle and interest shall be repaid to ‘A’ as
described in paragraph 1 above. 

  

	 	1.	 ‘B’ fails to fulfill its obligations under this Agreement; 

 

	 	2.	 ‘B’ becomes aware of a sharp deterioration in its finances and fails to respond to the request for
clarification, or when the clarification is unclear; 

  

	 	3.	 ‘B’ becomes aware that it deliberately concealed its property or otherwise acted unfaithfully, and
fails to respond to the request for clarification, or when the clarification is unclear. 

 Article 7 (Order of Repayment) 

The amount paid by ‘B’ under this Agreement shall be appropriated first for the relevant expenses, followed by payment of interest and finally
payment of principal. 
 Article 8 (Jurisdiction by Agreement) 

Any dispute arising out of this Agreement shall be brought in the court of jurisdiction of ‘A’’s address, for the first trial. 

  
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 Article 9 (Reciprocal Cooperation) 

 

	1.	 Both parties will comply with each Article in this Agreement. 

 

	2.	 Matters not provided in this Agreement shall be governed by relevant statues and commercial customs.

 Article 10 (Modification of Agreement) 
  

	1.	 Modification to this Agreement may only be made by the written consent of each party. 

 

	2.	 A written document setting forth the modification as agreed upon in accordance with paragraph 1 shall be
attached to the end of this Agreement. 

 Article 11 (Settlement of Disputes) 

 

	1.	 Disputes arising out of this Agreement shall be resolved by the consultation between A and B.

  

	2.	 If an agreement under paragraph 1 is not reached, the matter shall be brought in the court specified in Article
9. 

 As the parties have agreed as above, make two copies and keep one copy after each party seals. 

2018.   5.   25. 

  
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 The Creditor (‘A’) 

DoubleU Games Co., Ltd. (Corporation registration number: 110111-4855924) 

Address: 16th floor, Gangnam Finance Center, 152 Teheran-ro, Gangnam-gu, Seoul 

Representative Director: Kim Ga-Rham (sealed) 
 The Debtor
(‘B’) 
 The8Games Co., Ltd. (Corporation registration number: 131111-0200623) 

Address: 13th floor, POSCO P&S Tower, 134 Teheran-ro, Gangnam-gu, Seoul 

Joint Representative Director: Kim Young-Uk (sealed) 
 Joint
Representative Director: Won Yong-Joon (sealed) 

  
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