SoftMax has officially announced the deal between themselves and publisher Banpresto on their official site. Despite prior reports, the PlayStation 2 game in development will not be a simple port of the Korean PC RPG Magna Carta, but rather a strategy RPG based on the game. There will be a new story and battle system.
SoftMax will handle the planning/scenario, software development, publishing for Korea and other Asian countries excluding Japan, and character licensing. Banpresto will be the investor for the development, character licensing in Japan, and publishing in Japan and in western markets. This does not mean the new Magna Carta will see a US and European release, but rather that they will be the licenser, as well as the main profiter. So far Banpresto has invested around 4,387,601,637 won ($3.8 million USD) into SoftMax.
Sales of the new Magna Carta based strategy RPG are expected to total 11,307,098,957 won ($9.8 million USD), though the game currently has no release date.
Thanks to Wenchin Lee for the tip.