Joymax' founder Jeon Chanwoong had originally studied Computer Information Systems at Vancouver Douglas College, before he learned of Digipen opening a course in video game programming. He enrolled in the first course in 1994 and graduated in 19961. His project at the school was supposedly a SNES game called "Cave of Nevar." Back in Korea he won a prize at a programming contest held by GM Entertainment with a little game called "Super Pong".2

He stated that he found the AI programming in real-time strategy games the most inspiring, and thus he founded his own company to develop some in 1997. After decent successes with some games that uncanningly resembled StarCraft, Joymax kept going through the years with simpler license-based games. Finally the company successfully entered the online game market with Silk Road Online, and had particular success by offering global service as an online game publisher for several games, starting in early 20063.

However, on June 4th, 2010 Jeon Chanwoong sold his stock in the company to Wemade Entertainment4. Originally it was expected that he would continue to lead the R&D of the company while Wemade's Kim Namcheol would take over management, but no more than a month later he took his leave5. In 2011, Joymax bought a stock majority of developer IO Entertainment (Lost Saga)6