DEC. 4, 2008 • With hopes of becoming the third-largest video game market after the U.S. and Japan, the South Korean government has pledged to invest W350 billion ($264 million) into its computer game industry through the year 2012. Noting that the Korean game industry reached its $1 billion export goal two years early in 2008, the hope is to spur worldwide exports further to at least W5 trillion ($3.75 billion) by 2012.
Impact: In terms of per capita usage, South Koreans are probably the most active game players in the world. However, with a total population of only about 50 million, the game market in South Korea has become saturated and domestic growth potential is limited. The goal is to bring products developed in South Korea to the rest of the world. This is most likely to occur through products that have a free-to-play/micro-transaction component. This is an area where South Korean companies have excelled, and which is gaining ground globally.
