Hearts of Iron 4 is a grand strategy game focused on World War II. Like Paradox's other grand strategy offerings, Hearts of Iron 4 is said to offer players "the most authentic real-time simulation of World War II to date." Little is known of the game beyond that quote, though based on prior Hearts of Iron games we expect an exacting attention to detail, reams of historical data and the freedom to control nearly any faction involved in the second World War.
Runemaster, by contrast, is a departure for Paradox Interactive. Instead of the strategy games it usually produces, Paradox has instead set its sights on a roleplaying game based on Norse mythology. According to the developer's short description, Runemaster will feature "[p]rocedural maps and quests" which should keep the experience fresh longer than pre-scripted areas and missions.
"We're always playing RPGs in our spare time and discovering new things we love about them as a game genre; it was only natural that sooner or later we'd have to design our own," stated studio manager Johan Andersson. "Runemaster is the result, and we know our fans will love it."
Both Hearts of Iron 4 and Runemaster are in relatively early stages of development. Neither has a release date as of yet, but more information can be found on the barebones websites Paradox recently launched for each game.