South Korean government reveals 5-year plan to grow gaming console industry

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South Korean government reveals 5-year plan to grow gaming console industry
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According to the gamesindustry.biz The South Korean government revealed a plan to revitalize the country's console market by 2028, with the aim of reducing its dependence on mobile and online platforms and increasing console sales.

The decision is related to the fact that in South Korea the game console market is only 1.5%, well below the 25% worldwide. According to the government, 40% of gamers in the USA and Europe play on a console.

In South Korea, the video game market generates a lot of money, with Korean gamers spending 22.2 trillion won (16.04 billion dollars) on video games, making the country the fourth largest market in the world.

A Niko Partners revealed that the Korean PC gaming market accounted for 55% of East Asian revenue and predicted that the East Asian PC and mobile gaming markets could reach $30.8 billion by 2027.

The government said it will help local producers work with companies such as Microsoft, Sony and Nintendo to develop future games over the next five years, as well as supporting independent studios.


South Korean government reveals 5-year plan to grow gaming console industry

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South Korean government reveals 5-year plan to grow gaming console industry

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