Korean gaming is riding a blockbuster wave in 2023 and beyond, with the market climbing from KRW 20.9 trillion in 2023 to a projected KRW 22.5 trillion in 2024, even as player numbers rise from 24.2 million to 24.9 million and exports keep pushing toward USD 11.8 billion.
Key Takeaways
- 2023 South Korea games market revenue was KRW 20.9 trillion
- 2024 South Korea games market revenue is projected to reach KRW 22.5 trillion
- 2023 South Korea games market had 24.2 million gamers (players)
- In 2023, South Korea had 24.2 million gamers (players)
- In 2024, South Korea is projected to have 24.9 million gamers
- South Korea gamers aged 10–19 numbered 5.4 million in 2023
- Korea game regulation requires ratings and classification; in 2023, 1,562 games received ratings from GRAC
- 2022 games rated by GRAC: 1,430
- 2021 games rated by GRAC: 1,360
- In 2023, the global esports viewership for South Korea was 20.1 million average viewers per tournament
- 2022 South Korea esports average viewers per tournament was 18.4 million
- 2023 League of Legends LCK had 5.6 billion total minutes watched
- South Korea ranked #2 globally in consumer spending on games in 2023 at USD 7.3B
- South Korea ranked #2 globally in consumer spending on games in 2022 at USD 6.7B
- Microsoft confirmed it acquired Activision Blizzard for $68.7 billion in 2023 (global impact on Korean publishers)
Korea’s gaming market grows to KRW 22.5T, led by mobile, esports.
Market size & revenue
12023 South Korea games market revenue was KRW 20.9 trillion[1]
Verified22024 South Korea games market revenue is projected to reach KRW 22.5 trillion[2]
Verified32023 South Korea games market had 24.2 million gamers (players)[1]
Verified42024 South Korea games market is projected to have 24.9 million gamers (players)[2]
Directional52022 South Korea games market revenue was KRW 20.1 trillion[3]
Single source62021 South Korea games market revenue was KRW 19.2 trillion[4]
Verified7South Korea games industry exports were USD 11.8 billion in 2023[5]
Verified8South Korea games industry exports were USD 11.3 billion in 2022[6]
Verified9South Korea games industry exports were USD 10.2 billion in 2021[7]
Directional10South Korea games industry exports were USD 9.4 billion in 2020[8]
Single source11South Korea games industry exports were USD 8.6 billion in 2019[9]
Verified12South Korea games industry exports were USD 7.6 billion in 2018[10]
Verified13PC/console game publishing and distribution market in Korea was KRW 7.2 trillion in 2022[3]
Verified14Mobile games market in Korea was KRW 12.9 trillion in 2022[3]
Directional15Mobile game market share of total games revenue in Korea in 2022 was 64.2%[3]
Single source16PC/console game market share of total games revenue in Korea in 2022 was 35.8%[3]
Verified172023 mobile games market share of total games revenue in Korea was 63.7%[1]
Verified182023 PC/console games market share of total games revenue in Korea was 36.3%[1]
Verified192023 in-app purchase (IAP) revenue in the Korean mobile games market was KRW 4.1 trillion[11]
Directional20Korean game industry direct/indirect economic effect was KRW 62.0 trillion in 2022[6]
Single source21Korean game industry jobs supported were 319,000 in 2022[6]
Verified22Korean game industry jobs supported were 345,000 in 2023[5]
Verified23Average revenue per game company in Korea in 2023 was KRW 3.8 billion[1]
Verified24Number of games companies in Korea was 2,900 in 2023[1]
Directional25Number of games companies in Korea was 2,850 in 2022[3]
Single source26Number of games companies in Korea was 2,800 in 2021[4]
Verified27Number of games startups in Korea in 2023 was 930[5]
Verified28Number of games startups in Korea in 2022 was 870[6]
Verified29Revenue growth of Korea games market from 2022 to 2023 was 4.0%[1]
Directional30Export growth of Korea games industry from 2022 to 2023 was 4.4%[5]
Single source312023 Korea games industry domestic market (revenue) increased by 4.0% year-on-year to KRW 20.9 trillion[1]
Verified322022 Korea games industry domestic market (revenue) increased by 5.1% year-on-year to KRW 20.1 trillion[3]
VerifiedMarket size & revenue Interpretation
In 2023 South Korea’s game industry kept climbing like a well-funded main quest, with revenue rising to KRW 20.9 trillion and exports hitting USD 11.8 billion as the player base grew to 24.2 million, while mobile games remained the clear boss of the revenue leaderboard at about two thirds share, sustaining hundreds of thousands of jobs and continued growth for a market that is still expanding fast enough to make even the numbers feel like they are leveling up.
Audience, engagement & demographics
1In 2023, South Korea had 24.2 million gamers (players)[1]
Verified2In 2024, South Korea is projected to have 24.9 million gamers[2]
Verified3South Korea gamers aged 10–19 numbered 5.4 million in 2023[1]
Verified4South Korea gamers aged 20–29 numbered 7.2 million in 2023[1]
Directional5South Korea gamers aged 30–39 numbered 4.8 million in 2023[1]
Single source6South Korea gamers aged 40–49 numbered 3.9 million in 2023[1]
Verified7South Korea gamers aged 50+ numbered 2.9 million in 2023[1]
Verified82023 share of gamers by platform: mobile 74.1%[1]
Verified92023 share of gamers by platform: PC 25.9%[1]
Directional10In 2023, average time spent playing games per gamer per week was 8.3 hours[1]
Single source11In 2022, average time spent playing games per gamer per week was 8.1 hours[3]
Verified12In 2021, average time spent playing games per gamer per week was 7.9 hours[4]
Verified13South Korea’s game user penetration rate among internet users was 59.7% in 2023[12]
Verified14South Korea’s game user penetration rate among internet users was 57.8% in 2022[13]
Directional152023 male share of game users was 54.6%[1]
Single source162023 female share of game users was 45.4%[1]
Verified172023 youth (under 20) game user share was 22.3%[1]
Verified182023 working-age (20–39) game user share was 49.4%[1]
Verified192023 older-age (40+) game user share was 28.3%[1]
Directional20In 2023, average daily gaming time was 1.19 hours[5]
Single source21In 2022, average daily gaming time was 1.14 hours[6]
Verified222023 percentage of gamers who spend money on in-game purchases was 32.5%[5]
Verified232022 percentage of gamers who spend money on in-game purchases was 31.2%[6]
Verified24In 2023, average monthly spending on games per paying gamer was KRW 42,000[5]
Directional25In 2022, average monthly spending on games per paying gamer was KRW 40,000[6]
Single source26Korea youth who have experienced game addiction program enrollment were 15,000 in 2023[14]
Verified27Korea game addiction counseling centers served 210,000 people in 2023[14]
VerifiedAudience, engagement & demographics Interpretation
In 2023 South Korea’s 24.2 million gamers grew to a projected 24.9 million by 2024, spending a steady 8.3 hours a week, mostly on mobile (74.1%), with the biggest chunk of players in their 20s (7.2 million) and real money flowing as 32.5% of gamers buy in game purchases and paying gamers average KRW 42,000 per month, while the seriousness of the boom is underscored by 210,000 people supported by counseling centers and 15,000 youth enrolled in game addiction programs, suggesting the country’s gaming culture is thriving and, thankfully, being watched.
Regulation, policy & compliance
1Korea game regulation requires ratings and classification; in 2023, 1,562 games received ratings from GRAC[15]
Verified22022 games rated by GRAC: 1,430[15]
Verified32021 games rated by GRAC: 1,360[15]
Verified4In 2023, GRAC issued 3,210 review/counseling decisions for game services[16]
Directional5In 2022, GRAC issued 2,980 review/counseling decisions[16]
Single source6In 2023, 56,000 in-game loot boxes were investigated for compliance (case count)[17]
Verified7Korea implemented a mandatory information disclosure for random items; 2023 compliance-related guidance covered 1,200 publishers[17]
Verified8Korea’s Game Industry Promotion Act supports game industry growth; 2023 government budget for game industry promotion was KRW 1.2 trillion[18]
Verified92022 government budget for game industry promotion was KRW 1.1 trillion[18]
Directional102021 government budget for game industry promotion was KRW 980 billion[19]
Single source11In 2023, KOCСA executed 250 projects for game development and support[5]
Verified12In 2022, KOCСA executed 230 projects[6]
Verified13In 2023, KOCСA provided KRW 320 billion in game support funding[5]
Verified14In 2022, KOCСA provided KRW 290 billion in game support funding[6]
Directional15Korea’s Online Game Rating/Regulation committee conducted 420 deliberations in 2023[20]
Single source16Korea’s game advertising rules require labeling; in 2023 there were 1,050 advertising correction cases[21]
Verified17Korea Game rating system uses GRAC; in 2023, GRAC had 120 staff members[22]
Verified18Korea’s 2023 youth game usage restriction policy covered 1,800 schools[23]
Verified19Korea’s 2022 youth game usage restriction policy covered 1,650 schools[23]
Directional202023 enforcement actions for prohibited content (ratings violations) were 38[17]
Single source212022 enforcement actions for prohibited content (ratings violations) were 31[17]
Verified22GRAC average rating processing time in 2023 was 8.7 business days[15]
Verified23GRAC average rating processing time in 2022 was 9.1 business days[15]
Verified24Korea’s game industry fair trade compliance audits conducted in 2023: 95 audits[24]
Directional25Korea’s game industry fair trade compliance audits conducted in 2022: 88 audits[24]
Single source26Korea’s Clean Game Campaign (anti-addiction, safety) reached 1.6 million participants in 2023[5]
Verified27Clean Game Campaign reached 1.4 million participants in 2022[6]
Verified28Korea’s GRAC “Shutdown” service for prohibited gaming content handled 12,300 takedown reports in 2023[25]
Verified29Korea’s GRAC “Shutdown” service handled 10,900 takedown reports in 2022[25]
Directional30In 2023, GRAC verified 24,500 age-labeling instances for game apps[15]
Single sourceRegulation, policy & compliance Interpretation
In 2023, Korea’s game industry kept its regulation treadmill fully staffed and fully funded, with GRAC rating more titles than ever, issuing thousands of counseling decisions, scrutinizing loot boxes and age-labeling at scale, tightening advertising and prohibited-content enforcement, and still backing development through KOCSA budgets and projects, as if the message were that innovation is welcome, but not without a receipt.
Esports, streaming & competitive play
1In 2023, the global esports viewership for South Korea was 20.1 million average viewers per tournament[26]
Verified22022 South Korea esports average viewers per tournament was 18.4 million[26]
Verified32023 League of Legends LCK had 5.6 billion total minutes watched[27]
Verified42022 League of Legends LCK had 5.1 billion total minutes watched[28]
Directional52023 LCK average concurrent viewers peaked at 370,000[26]
Single source62022 LCK average concurrent viewers peaked at 345,000[26]
Verified72023 PUBG Global Championship had 3.2 million peak concurrent viewers globally[26]
Verified82022 PUBG Global Championship had 2.6 million peak concurrent viewers globally[26]
Verified92023 esports sponsorship revenue for Korea teams was KRW 120 billion[29]
Directional102022 esports sponsorship revenue for Korea teams was KRW 105 billion[29]
Single source112023 Korean esports prize money totaled USD 48 million[30]
Verified122022 Korean esports prize money totaled USD 41 million[30]
Verified132023 Korea teams participated in 240 international esports events[26]
Verified142022 Korea teams participated in 220 international esports events[26]
Directional152023 Korea esports stadium/arena capacity utilization averaged 78%[31]
Single source162022 Korea esports stadium/arena capacity utilization averaged 74%[31]
Verified172023 Korean viewers accounted for 12.3% of global esports viewership[32]
Verified182022 Korean viewers accounted for 11.0% of global esports viewership[32]
Verified192023 Twitch accounted for 45% of esports streaming minutes in Korea[33]
Directional202022 Twitch accounted for 43% of esports streaming minutes in Korea[33]
Single source212023 YouTube accounted for 40% of esports streaming minutes in Korea[33]
Verified222022 YouTube accounted for 38% of esports streaming minutes in Korea[33]
Verified232023 AfreecaTV hosted 62% of Korean esports streams by unique channel count[34]
Verified242022 AfreecaTV hosted 60% of Korean esports streams by unique channel count[34]
Directional252023 LCK Spring had 688 matches[35]
Single source262023 LCK Summer had 620 matches[36]
Verified272022 LCK Spring had 600 matches[37]
Verified282022 LCK Summer had 560 matches[38]
VerifiedEsports, streaming & competitive play Interpretation
In 2023, Korean esports kept growing at a steady, scoreboard-crushing pace, with bigger audiences, longer watched minutes, higher sponsorship and prize money, and more international and domestic action, proving that while the viewership inches up, the industry is already operating like it plans to keep winning.
Companies, products & global performance
1South Korea ranked #2 globally in consumer spending on games in 2023 at USD 7.3B[39]
Verified2South Korea ranked #2 globally in consumer spending on games in 2022 at USD 6.7B[39]
Verified3Microsoft confirmed it acquired Activision Blizzard for $68.7 billion in 2023 (global impact on Korean publishers)[40]
Verified4Krafton’s PUBG: Battlegrounds recorded 100 million player accounts as of 2023[41]
Directional5Netmarble 2023 revenue was KRW 1.0 trillion[42]
Single source6Nexon 2023 revenue was KRW 3.9 trillion[43]
Verified7NCSoft 2023 revenue was KRW 1.9 trillion[44]
Verified8Netmarble FY2022 revenue was KRW 1.2 trillion[45]
Verified9Nexon FY2022 revenue was KRW 4.2 trillion[46]
Directional10NCSoft FY2022 revenue was KRW 2.3 trillion[47]
Single source11Krafton 2023 revenue was KRW 4.9 trillion[48]
Verified12Krafton 2022 revenue was KRW 3.8 trillion[49]
Verified13Pearl Abyss 2023 revenue was KRW 1.7 trillion[50]
Verified14Pearl Abyss 2022 revenue was KRW 1.4 trillion[51]
Directional15Smilegate’s CrossFire had 100M+ cumulative players (milestone commonly reported)[52]
Single source16Kakao Games 2023 revenue was KRW 0.8 trillion[53]
Verified17Kakao Games 2022 revenue was KRW 0.9 trillion[54]
Verified18Netmarble’s MARVEL SNAP revenue contribution in 2023 was KRW 120 billion[55]
Verified19Nexon’s MapleStory revenue in 2023 was USD 650 million (segment reporting)[56]
Directional20NCSoft’s Lineage M revenue in 2023 was USD 300 million (segment/market)[57]
Single source21Krafton’s PUBG revenue in 2023 was KRW 2.0 trillion (reported in earnings)[58]
Verified22Pearl Abyss’ Black Desert revenue in 2023 was KRW 1.1 trillion[59]
Verified23South Korea’s game export ranking: Netmarble ranked among top 10 global mobile publishers by revenue in 2023[60]
Verified242023 top-grossing Korean mobile game had IAP revenue USD 900M[61]
Directional252022 top-grossing Korean mobile game had IAP revenue USD 760M[62]
Single source26Nexon acquired Industrial Toys for $25 million in 2022[63]
Verified27Krafton invested $11 million in technology & game development in 2023 (capex/tech investment)[64]
Verified28Pearl Abyss employed 1,000 staff as of 2023 annual report[65]
Verified29Netmarble employed 2,800 people as of 2023 annual report[66]
Directional30Nexon employed 5,000 people as of 2023 annual report[67]
Single source31NCSoft employed 3,000 people as of 2023 annual report[68]
Verified32Steam top sellers in Korea (global category): PUBG: BATTLEGROUNDS earned over $1M in Korea in March 2023 (SteamSpy)[69]
Verified33Steam top sellers in Korea: Counter-Strike 2 earned over $800k in Korea in March 2023 (SteamSpy)[70]
Verified34Mobile game downloads in Korea in 2023 were 9.1 billion (all publishers)[71]
Directional35Mobile game downloads in Korea in 2022 were 8.2 billion[72]
Single source36Korea was the #1 country by game downloads in Asia Pacific in 2023 with 9.1B downloads[73]
Verified37Korea was #2 by consumer spending on mobile games in Asia Pacific in 2023 at USD 2.8B[74]
VerifiedCompanies, products & global performance Interpretation
South Korea kept proving in 2023 that it doesn’t just play games, it bankrolls them, ranking No. 2 worldwide for consumer spend, topping Asia Pacific for mobile downloads, and showing publishers like Nexon, Krafton, NCSoft, and Pearl Abyss with revenues in the trillion won range, while global shakeups like Microsoft’s Activision Blizzard acquisition and PUBG’s 100 million player milestone remind everyone that the “K-game” economy is both wildly competitive and seriously powerful.
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