Financial Times Reports South Korean Game Industry In Decline

According to the Financial Times the South Korean game's industry is no longer sitting on a throne. We skimmed the details thanks to Gamasutra.

"The heyday of South Korean games exports due to development and monetization expertise is now over." - Piers Harding-Rolls, head of games research at IHS Markit in the Financial Times article.

If you follow the industry the statement should not come as a surprise. South Korea has faced increasing competition on PC from Russia, the United States, and now China. And South Korea hasn't adapted to the mobile market as well as other countries, unable to compete with Supercell or Japan's money-printing Monster Strike.

Not to say South Korea isn't trying; Blade and Soul: Hongmoon Rising, Lineage 2: Revolution, and multiple MapleStory projects aim to capture the allure of their PC counterparts for the mobile market.

Sean's Take: Back in the day South Korea was the capital for pushing free-to-play titles on PC. I remember trying a new South Korean game every other week from a friend's mothball basement. But the market is bigger now, and other developers have learned how to compete (e.g. Russia).

Does this mean South Korean games are on a slippery slope towards doom and gloom? No. What it means is that the see-saw has shifted. The market is more like a cluttered elevator now, and everyone has their elbows out trying to find their own space.

South Korean developers have to innovate and adapt to the mobile market if they want to be a center for games again.