Friday, November 28, 2014

The game industry and Korea's future role in it

Earlier this month The Joongang Daily published an interesting and informative article summarizing some main results from a new study of the game industry in Korea.  As noted in the article, "As of the end of 2013, the global game market was estimated at $117 billion, of which Korea accounted for 6.3 percent or $7.3 billion. It’s the fifth biggest market in the world trailing the United States (19.1 percent), Japan (15.8 percent), China (14.8 percent) and the United Kingdom (7.9 percent). Considering the size of its population, Korea’s game industry is particularly active and robust. Korean game companies have shown exceptional strength and competitiveness in online games compared to video games or PC games. In fact, Korea is the second largest online game market in the world after China with a 21.3 percent market share. Its contribution to the nation’s economy also commands respect. Among the $1.4 billion in content that was exported overseas in the second quarter, games contributed 62.5 percent - more than music and movies combined."
As shown by the accompanying graphic, (click to see a larger version) the strong trend in Korea's game industry, as globally, is toward mobile games.

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