Why Korea matters to the global games industry

• A top five games market in the world, Korea is proving a major global exporter, advancing above and beyond by adopting new technologies, monetisation strategies, and IPs.
• Providing a gateway to the Korean games industry, Pocket Gamer Connects Summit Korea takes place on October 31st, with Early Bird tickets available now.

From PC MMORPG dominance to becoming a mobile games powerhouse and an esports leader, Korea’s games sector has expanded from the strength of its domestic market to become a major global export industry.

Here’s why international game companies should pay attention to Korea:

Top five games market

One of the world’s top five games markets with annual consumer spending of around $20 billion, which is projected to grow to $34 billion by 2030, Korea is also home to major companies such as Krafton, Nexon, NCSoft, Netmarble, Wemade, Com2uS, Pearl Abyss and Kakao Games. 

Over the past 25 years, these companies have established Korea as an indisputable force, especially in PC and mobile games. 

Top ARPUs

Long a hub of game innovation, Korea has been a particular pioneer in game monetisation, first with PC games and then most significantly in terms of free-to-play mobile games, driving revenues and popularising many of the mechanics that have made this the predominant business model for games. 

Notably, this monetisation has also gone hand-in-hand with player education and satisfaction, with Korean gamers boasting some of the highest average revenue per user (ARPU) stats globally. 

Many Western developers would materially benefit from gaining a deeper insight into Korean appetites and strategies.

Adopting new technologies

Continuing to be forward-looking, Korean game companies are adopting new technologies and revenue streams, demonstrated not least by their strong esports and streaming culture. 

Also quick to integrate blockchain tech into games, leading companies like Nexon, Netmarble and Com2uS all have at least one web3 title in their catalogue, while Wemade is incorporating blockchain elements into all its forthcoming games, driving retention and monetisation in the likes of current PC/mobile games such as Mir4 and Night Crows.

As for AI, game companies as well as the Korean government have made significant investments into onboarding the tech, alongside more generally supporting the country’s infrastructure and digital future. 

Although the heyday of viral games like Anipang on Korea’s dominant messaging app KakaoTalk is somewhat in the past, mini-games and casual game experiences still exist and are evolving on the platform. 

Indeed, there are some early indications of a comeback seen in the rise of LINE messenger users now playing in-app games. Interestingly, this is another area in which blockchain has been integrated with LINE and Kakao’s Kaia blockchain, hosting successful new titles such as Slime Miner and Ragnarok Libre. 

The future of cross-media and cross-platform

Consistently strong in terms of endemic IP, with examples such as MapleStory, PUBG, Dungeon&Fighter and Lineage, Korean game makers are advancing the entertainment sector, extending legacy IP and turning major games into cross-media powerhouses. 

And, outside of games, the fusion of K-pop and anime in the glorious form of Netflix’s KPop Demon Hunters goes to demonstrate this is now a global culture that goes way beyond Gangnam Style, Parasite or even Squid Games. 

Adopting web3, integrating AI, expanding into anime, comics, film, and other entertainment formats, the Korean games industry is a wealth of innovation and knowledge, setting a bright example to the global market. 

You should believe it, so you should really see it too!

Providing a gateway to this vibrant market, the global b2b games conference Pocket Gamer Connects Summit Korea takes place in the Goyang region bordering Seoul, on October 31st. Register today, saving you up to ₩208,448 ($150) with Early Bird ticket rates.