Back in July, Red 5, developers of the upcoming MMO RPG/Shooter hybrid Firefall, filed for legal arbitration against their Korean publisher Webzen. Alleging breach of contract and a host of other accusations, Red 5 later found themselves hit with a counter-suit courtesy of Webzen, and... you really don't care about any of this, in all likelihood. What you do care about is whether or not you'll ever be able to play Firefall, and why wouldn't you? It sounds pretty sweet.

Well, good news! Webzen and Red 5 have settled with each other, according to a press release sent out this evening. The details? Webzen gets "compensation" for the development costs they covered, and they'll get cut into revenue generated by Firefall when it launches "for a time." Red 5 gets, well, to finish the game, and no longer has to deal with Webzen.

Full press release details after the jump.
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FOR IMMEDIATE RELEASE



RED 5 STUDIOS AND WEBZEN HAVE AGREED TO END THE DISPUTE



[Provided by Red 5 Korea] – September 29th, 2011 – Red 5 Studios, Inc. ("Red 5") announced that it has entered into a settlement agreement with Webzen, Inc. to resolve all the legal disputes between them, including withdrawal of all pending legal claims against the other.



Under this agreement, Webzen will receive compensation for the prior development fees paid to Red 5 and also will share in future revenue generated from Red 5's game entitled Firefall for a certain period of time. Red 5 and its affiliated company received the global publishing rights under the settlement agreement. Webzen will no longer be involved in marketing and publishing Firefall in any territory as a result of this agreement.



Mark Kern, CEO of Red 5 Studios said, "Given the resolution of all disputes and conflicts between our two companies I would like to ask for our fans, especially Chinese and Korean gamers,' continuous encouragement and support in Firefall and Red 5."



From now on, please contact Red 5 Studios and Red 5 Korea for more details regarding Firefall.



About Red 5 Studios
Red 5 Studios, Inc., an online game developer located in California, is founded by Mark Kern, former team lead for World of Warcraft. Red 5 is dedicated to bringing together millions of gamers across the world by creating immersive worlds, intriguing stories and compelling characters. Red 5 believes that online games and persistent worlds are the future of video games. Visit www.red5studios.co.kr for more information.

This article was originally published on Joystiq.