APRIL 28, 2009 • In the year since the Wii was released in South Korea, retailers there have sold 500,000 units. Wii software has not sold so well, however. The best selling game, Wii Sports, which isn’t bundled with the console in Korea and Japan, has sold 210,000 units in South Korea since April 26.
Impact: Comparatively speaking, the Wii is not a blowout success in Korea. While it took the PlayStation 2 almost three years to break the one million unit mark in Korea, the Wii is selling into a market that is significantly more mature. South Korea also has the issue of currency devaluation. The South Korean Won has historically hovered at around 1,000 Won per U.S dollar or 9 Won per Japanese yen. However, starting in October 2008, the value of Won began a steep decline. In late February/early March 2009 the valuation was over 1,500 Won per USD or over 15 Won per Yen. These type of fluctuations are making it difficult for foreign companies releasing products in Korea.
