Chinese Internet company Tencent has gained the rights to operate Blade & Soul, a new online game developed by the South Korean company NCsoft, on the Chinese mainland.

Ren Yuxin, president for Tencent’s game division, told local media that the two companies will have more cooperation in the future. Apart from product cooperation, they will share experience in product development and marketing.

Founded in 1997 in Seoul, South Korea, NCsoft is home to many industry-leading online games, including Aion, Lineage, and City of Heroes Guild Wars. In 2010, the company made operating revenue of KRW649.7 billion, ranking second in all South Korean game companies. A South Korean securities institution previously predicted that Blade & Soul is expected to contribute over 20% to NCsoft’s revenue in the new fiscal year. Prior to the cooperation with Tencent, NCsoft has formed partnerships with many Chinese online game operators, including Sina.com, The9, and Shanda.

Statistics provided by third parties show that Tencent is the online game company with the largest market share in China. According to its latest financial report, the company’s revenue from the game sector was CNY3.573 billion in the first quarter of 2011.