[MUSAI] The Korean Console Market, “Green Light” with a High Growth Rate

2020-01-29

The Korean console market is getting larger with a high growth rate. Both 2017 and 2018 have recorded over 40% of growth rate consecutively.

 

Most of domestic developers are busy to get ready for the expansion of the market. From major developers such as Nexon, NCSoft and Pearl Abyss to indie game developers are working on new console games. This movement can be translated to a response for the rapid growth rate of the Korean console market.

 

Musai Studio has posted a report regarding the distinct characteristics and future of the Korean game market last year. (http://bit.ly/2RBiE1S) In short,  the Korean game market is the world’s fourth largest in terms of revenue. Otherwise most of them are focused on PC Online and mobile games, the portion of console games is relatively small. (2.8% as of 2017) However, it was totally different in terms of the growth rate. Compared to the decline of PC Online and mobile games market, the growth rate in the console market has consistently shown double-digit.

 

[Photo 1] The Korean Game Market by Platform Type in 2018 (Source: 2019 White Paper on Korean Games)

 

‘2019 White Paper on Korean Games’ recently issued by the Korea Creative Content Agency has reported about the future of the domestic console games market in a positive tone similar to last year. It grew up 42.2% year- on-year to 373.4 billion won (about 320 million dollars) in 2017, 41.5% again to 528.5 billion won (about 450 million dollars) in 2018. The number of console game-related workers also increased by more than 10% every year to 383 in 2016, 478 in 2017 and 529 in 2018. Both exports and imports of console games are increased year-on-year basis as well.

 

[Photo 2] Both exports and imports of console games are increased year on year basis. (Source: 2019 White Paper on Korean Games)

 

There is news that the next generation of Sony’s PlayStation and Microsoft’s Xbox are coming up and it brings the expectation of the market expansion. The growth of Korean console market is not just a wish anymore, seems to be real.

 

If you want to download ‘2019 white paper on Korean games’ and see more details, follow this link. http://bit.ly/2tQOMXM

 

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