At the Xbox Games Showcase 2025, South Korean developers EVR Studio unveiled their new game—a narrative-driven, third-person action-adventure with stealth elements—that caught many people’s attention thanks to its advanced and spectacular combat system. However, there is a strong likelihood that the project will never be released, as the development studio is rumored to have gone bankrupt.
As noted by Reddit users, the Korean online business registry has added EVR Studio to its list of bankrupt companies. It also confirms that the development of MUDANG: Two Hearts has been halted.
EVR Studio went bankrupt
On June 5, 2026, the 11th Division of the Seoul Bankruptcy Court declared EVRStudio bankrupt. I have attached the official court…