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Status of Korean Game Industry
18.11.2013

Seogwon Hwang
Research Fellow at STEPI in Korea
Market Size
Ocean Story Scandal

(100 Million KRW)

* 1 USD = 1063.5 KRW (15.11.2013)
Source: KOCCA, White Paper on Korean...
Global Market Share

Global Market
111.8 BUSD

Korean Share
7.1 BUSD

6.3%

Source: created based on KOCCA’s White Paper o...
Market Segments
arcades
PC bang
Arcade games
PC games
mobile

video

Online

Source: KOCCA, White Paper on Korean Games ( ...
Exports and Imports
EX

IM

Very weak in console games

online

video

mobile

arcade

PC

total

EX: Exports, IM: Imports...
Export Details
Europe

miscellaneous

North America
China
South East Asia

Japan
Source: KOCCA, White Paper on Korean Game...
Number of Game Companies
1017

957

2011

2012

Source: created based on KOCCA’s White Paper on Korean Games ( 2013)
Number of Employees
2010

2011

2012

CAGR

Production and
Publishing

48,585

51,859

52,466

3.90 %

PC Bang and
Arcades...
Macro culture: Hot wind blowing in
cold winter
• From online RPG to mobile ?
• Not that huge success story from start ups
...
Profitability = Sustainability
• Revenue: Power function of Ranking
in Market Places
– Mean value low, median much
lower
–...
Open Platforms
• Openness and freedom for users
– Firms to seek locked-in users but users to seek freedom
• Tizen by Samsu...
Thank You
seogwon.hwang@gmail.com
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Status of Korean game industry

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Some figures of Korean game industry and thoughts for innovation policies

Status of Korean game industry

  1. 1. Status of Korean Game Industry 18.11.2013 Seogwon Hwang Research Fellow at STEPI in Korea
  2. 2. Market Size Ocean Story Scandal (100 Million KRW) * 1 USD = 1063.5 KRW (15.11.2013) Source: KOCCA, White Paper on Korean Games ( 2013), modified by the author
  3. 3. Global Market Share Global Market 111.8 BUSD Korean Share 7.1 BUSD 6.3% Source: created based on KOCCA’s White Paper on Korean Games ( 2013)
  4. 4. Market Segments arcades PC bang Arcade games PC games mobile video Online Source: KOCCA, White Paper on Korean Games ( 2013), modified by the author
  5. 5. Exports and Imports EX IM Very weak in console games online video mobile arcade PC total EX: Exports, IM: Imports (1000 US$) Source: KOCCA, White Paper on Korean Games ( 2013), modified by the author
  6. 6. Export Details Europe miscellaneous North America China South East Asia Japan Source: KOCCA, White Paper on Korean Games ( 2013), modified by the author
  7. 7. Number of Game Companies 1017 957 2011 2012 Source: created based on KOCCA’s White Paper on Korean Games ( 2013)
  8. 8. Number of Employees 2010 2011 2012 CAGR Production and Publishing 48,585 51,859 52,466 3.90 % PC Bang and Arcades 46,388 43,156 42,585 -4.20 % Total 94,973 95,015 95,051 0.00 % Source: KOCCA, White Paper on Korean Games ( 2013), modified by the author
  9. 9. Macro culture: Hot wind blowing in cold winter • From online RPG to mobile ? • Not that huge success story from start ups • Successful game platforms based on messenger services – Kakao, Line • Politicians call Game as one of the four social evils (Drug, Alcohol, Gambling and Game) • Conflict between the industry and politics which is supported by parents and medical doctors
  10. 10. Profitability = Sustainability • Revenue: Power function of Ranking in Market Places – Mean value low, median much lower – Winner takes all • Many success stories. But what about the whole ecosystem? – Still profitable for most of 'normally good talented' people? – Common belief that every one can succeed. "Don't give up!" (One of the most common slogans in SLUSH13) But, really? Daily Revenue (US$) 𝐥𝐧 𝒚 = 𝟗. 𝟏 − 𝟏. 𝟏 𝐥𝐧 𝒙 Appstore Ranking Source: Hwang S. and Kim S. (2012), Profitability Analysis of Mobile Applications, presented at IT Service Conference in Seoul (in Korean)
  11. 11. Open Platforms • Openness and freedom for users – Firms to seek locked-in users but users to seek freedom • Tizen by Samsung and Intel – Tizen might be another competing private platform if they succeed • From de facto standards to de jure standards – Policies need to do more to make users free
  12. 12. Thank You seogwon.hwang@gmail.com

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