Beyond its borders as a cultural juggernaut, South Korea's game industry is also an economic powerhouse, generating a colossal 24.1 trillion KRW in 2023 and fueling global entertainment with 10.8 billion USD in exports.
Key Takeaways
- In 2023, the total revenue of the South Korean video game industry reached 24.1 trillion KRW, marking a 5.2% year-over-year growth
- The Korean game market size in 2022 was valued at 20.3 trillion KRW, with mobile games accounting for 52% of total revenue
- South Korea's game export revenue hit 10.8 billion USD in 2023, up 8.7% from the previous year
- PUBG Mobile generated 1.2 trillion KRW in Korea in 2023
- Lineage M earned 850 billion KRW domestically in 2022
- Lost Ark topped PC sales with 1.5 million copies sold in first month 2022
- Korea had 35.2 million online gamers in 2023, 68% of population
- Average age of Korean gamers is 32.5 years in 2023
- 52% of Korean gamers are female in 2023 survey
- Nexon reported 75 million MAU across titles in Q4 2023
- Netmarble's 2023 revenue: 2.42 trillion KRW, up 10%
- NCSoft Q3 2023 revenue: 630 billion KRW from Lineage series
- Korea exported games to 150 countries 2023
- Game exports to China: 3.5 billion USD 2023
- North America Korean game imports: 2.8 billion USD 2023
The Korean game industry achieved steady domestic growth and strong exports last year.
Company Performance
- Nexon reported 75 million MAU across titles in Q4 2023
- Netmarble's 2023 revenue: 2.42 trillion KRW, up 10%
- NCSoft Q3 2023 revenue: 630 billion KRW from Lineage series
- Krafton PUBG global revenue 2.1 trillion KRW 2023
- Com2uS 2023 revenue: 480 billion KRW, 70% from Summoners War
- Pearl Abyss Black Desert revenue 750 billion KRW 2023
- Smilegate Lost Ark 2023 revenue 1.1 trillion KRW
- Kakao Games 2023 revenue: 350 billion KRW from Odin
- NHN Soft 2023 MAU: 25 million on Lineage M
- XLGames 2023 revenue growth 15% to 200 billion KRW
- 4,500 game companies operating in Korea 2023
- Top 5 publishers hold 55% market share 2023
- Netmarble acquired 3 studios in 2023
- Nexon R&D spend: 450 billion KRW 2023
- NCSoft employee count: 5,200 in 2023
- Krafton market cap: 25 trillion KRW end 2023
- Shift Up (Stellar Blade dev) funding 100 billion KRW 2023
- 1,200 game devs employed by top 10 firms 2023
- Enmasse Entertainment revenue doubled to 150 billion KRW 2023
- Gamevil merged revenue 300 billion KRW 2023
- Webzen 2023 revenue: 180 billion KRW from MU series
- Neowiz 2023 hit DJMAX sales 5 million units
- 320 mid-tier companies revenue >10 billion KRW 2023
- Venture investment in games: 1.2 trillion KRW 2023
Company Performance Interpretation
While Nexon quietly quarterbacks an army of 75 million monthly players, the rest of Korea's game industry—from Krafton's blockbuster billions to the spirited hustle of 4,500 studios—is playing a high-stakes game of R&D-fueled musical chairs, where the top five publishers hold the music and everyone else dances for venture capital.
Exports and International
- Korea exported games to 150 countries 2023
- Game exports to China: 3.5 billion USD 2023
- North America Korean game imports: 2.8 billion USD 2023
- Japanese market Korean games revenue 1.2 trillion JPY 2023
- SEA region: 40% of Korean game exports 2023
- PUBG exported to 200 countries, 1 billion downloads 2023
- 12,500 overseas licenses issued to Korean games 2023
- Korean games on Steam: top 10% globally 2023
- Lineage series overseas revenue 60% of total 2023
- Mobile exports growth 12% to 6.2 billion USD 2023
- Korean esports viewership global 500 million hours 2023
- 450 Korean games localized in 15 languages 2023
- US App Store Korean devs top grossing 15% share 2023
- Europe Korean game revenue 1.9 billion EUR 2023
- 2,100 Korean titles on Google Play global top charts 2023
- Cultural export via games: 7% of total content exports 2023
- Korean PC games exports up 20% to 2.1 billion USD 2023
- Tencent partnerships with 50 Korean studios 2023
- Korean games in esports: 70% of Asian tournaments 2023
- Global MAU Korean games: 300 million 2023
- Lost Ark Steam peak concurrent 1.3 million global 2022
- Ragnarok M SEA revenue 1 billion USD lifetime 2023
- 85% of Korean mobile hits published overseas 2023
- Korean devs at GDC 2023: 250 companies exhibiting
- Exports to MENA region doubled to 500 million USD 2023
Exports and International Interpretation
Korea has firmly planted its pixelated flag across the globe, turning the world into its gaming arena where every download is a diplomatic mission and every in-game purchase funds a cultural conquest.
Game Sales and Titles
- PUBG Mobile generated 1.2 trillion KRW in Korea in 2023
- Lineage M earned 850 billion KRW domestically in 2022
- Lost Ark topped PC sales with 1.5 million copies sold in first month 2022
- 1,250 new mobile games launched in Korea in 2023
- MapleStory universe titles sold over 50 million lifetime units by 2023
- Summoners War franchise reached 200 million downloads globally from Korea base 2023
- 450 PC online games active in Korea in 2023
- Ragnarok Online M hit 10 million downloads in Korea within 6 months 2022
- 320 console titles released in Korea 2023, up 15% YoY
- Brawl Stars Korean version peaked at 5 million MAU in 2023
- 2,100 indie games published on Steam from Korean devs 2023
- Cookie Run Kingdom generated 500 billion KRW in 2023
- 180 MMORPGs operational in Korea 2023
- Genshin Impact Korean revenue 400 billion KRW lifetime by 2023
- 950 casual mobile games launched Q1 2023 in Korea
- Black Desert Mobile 15 million downloads in Korea by 2023
- 75% of top 100 grossing mobile games in Korea are domestic in 2023
- Odin: Valhalla Rising peaked at 1 million DAU in launch week 2021
- 1,500 blockchain games developed in Korea 2023
- Ni no Kuni Cross Worlds 8 million downloads Korea 2023
- 420 VR games released by Korean studios 2023
- Uma Musume Pretty Derby Korean launch 3 million pre-registrations 2023
- 2,800 total games approved for distribution in Korea 2023
- Blue Archive 12 million global downloads, 40% from Korea 2023
- 150 esports titles competitive in Korea 2023
- Wuthering Waves pre-reg 50 million, strong Korean interest 2024
- 600 hyper-casual games topped charts in Korea 2023
Game Sales and Titles Interpretation
The Korean game industry is a behemoth fueled by a relentless factory of mobile hits and nostalgic IP, yet it still finds the energy to dabble in every trend from blockchain to VR, proving its players have an insatiable appetite for both comfort food and the next big thing.
Market Revenue and Growth
- In 2023, the total revenue of the South Korean video game industry reached 24.1 trillion KRW, marking a 5.2% year-over-year growth
- The Korean game market size in 2022 was valued at 20.3 trillion KRW, with mobile games accounting for 52% of total revenue
- South Korea's game export revenue hit 10.8 billion USD in 2023, up 8.7% from the previous year
- Domestic game sales in Korea generated 14.7 trillion KRW in 2022, representing 72% of the total market
- The online game sector in Korea contributed 11.2 trillion KRW to the market in 2023
- Korea's game industry CAGR from 2019-2023 was 4.8%, driven by mobile and PC growth
- In 2023, PC games generated 7.6 trillion KRW in Korea, a 3.1% increase YoY
- Mobile game revenue in Korea reached 12.5 trillion KRW in 2022, with RPGs leading at 40%
- The overall Korean games market is projected to reach 27.5 trillion KRW by 2027
- In-app purchases accounted for 65% of Korean mobile game revenue in 2023, totaling 8.1 trillion KRW
- Console game market in Korea was 1.9 trillion KRW in 2023, growing 12% YoY
- Korea's game industry revenue per capita was 467,000 KRW in 2022
- The metaverse-related game revenue in Korea hit 1.2 trillion KRW in 2023
- VR/AR gaming revenue in Korea reached 450 billion KRW in 2023, up 25% YoY
- Cloud gaming services generated 320 billion KRW in Korea in 2023
- Korea's game market share globally was 4.2% in 2023, ranking 4th worldwide
- Subscription-based game revenue in Korea was 2.8 trillion KRW in 2022
- Free-to-play games dominated 78% of Korean market revenue in 2023
- NFT/blockchain game revenue in Korea totaled 180 billion KRW in 2023
- Indie game revenue share in Korea grew to 5.1% of total market in 2023
- Advertising revenue from games in Korea was 950 billion KRW in 2023
- Merchandising tied to games generated 1.1 trillion KRW in Korea in 2022
- Esports-related game revenue contributed 3.2 trillion KRW in 2023
- Korea's game industry investment reached 5.4 trillion KRW in 2023
- Tax revenue from games in Korea was 1.8 trillion KRW in 2022
- Korea's top 10 game companies generated 65% of total industry revenue in 2023
- Mid-sized game firms (11-100 employees) contributed 22% to revenue in 2023
- Game hardware sales (PCs/consoles) added 2.1 trillion KRW to market in 2023
- Digital distribution platforms took 28% of game revenue in Korea 2023
- Physical game sales declined to 4% of total revenue in 2023 in Korea
Market Revenue and Growth Interpretation
Even as they delicately balance a mobile-dominated present of in-app purchases and a console-resurgent future, South Korea's gaming industry, like a meticulously optimized RPG character, continues to power-level its economy, projecting a steady climb to 27.5 trillion KRW by 2027 while cleverly exporting its digital conquests for a hefty 10.8 billion USD.
User Base and Demographics
- Korea had 35.2 million online gamers in 2023, 68% of population
- Average age of Korean gamers is 32.5 years in 2023
- 52% of Korean gamers are female in 2023 survey
- Mobile gamers in Korea: 28.1 million active users 2023
- PC gamers number 18.4 million in Korea 2023
- 15.2% of gamers are under 18 in Korea 2023
- Average playtime per week for Korean gamers: 12.8 hours 2023
- 41% of Korean adults play games monthly 2023
- Urban gamers comprise 88% of total in Korea 2023
- 62% of gamers aged 20-39 in Korea 2023
- Console gamers: 9.7 million in Korea 2023
- 73% of Korean gamers use smartphones for gaming exclusively 2023
- Average monthly spend per gamer: 45,000 KRW in 2023
- 29% of gamers are parents in Korea 2023 survey
- Female gamers prefer RPGs (55%) in Korea 2023
- 81% internet penetration among gamers in Korea 2023
- Gen Z gamers (18-24) make up 28% in Korea 2023
- 67% of students aged 10-19 play games daily 2023
- Multi-platform gamers: 45% in Korea 2023
- 52 million total internet users play games occasionally 2023 Korea
- Seniors (50+) gamers grew 18% to 4.2 million 2023
- Seoul metro area: 65% of national gamers 2023
- 76% of gamers use social features daily 2023 Korea
- ARPU for mobile games: 52,000 KRW monthly 2023
- 39% of gamers watch esports weekly 2023
- Casual gamers: 55% of total user base 2023 Korea
- Hardcore gamers spend 20+ hours/week: 22% 2023
- 91% of gamers aged 18-29 own gaming smartphones 2023
User Base and Demographics Interpretation
South Korea's gaming landscape is no longer just a teenage boy's basement hobby, but a mature, ubiquitous, and social mainstream pastime where the average player is a 32-year-old woman in Seoul who is just as likely to be a parent grinding on her phone as a student in a PC bang.
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