Mobile Gaming Companies in South Korea had an amazing 2019-2022 and their outlook for the rest of 2023 looks very positive. South Korea ranks #4 in the world for mobile gaming revenue behind China, the US, and Japan. It is estimated that around 36 million people in Korea play mobile games. The average paying gamer spends around $75 per mobile game. Therefore, many global gaming companies are looking to enter the mobile gaming market in South Korea. However, the South Korean gaming market is very difficult to break into if you don’t understand the Korean gaming culture. Having a game in Korea’s app stores is not enough to ensure success. The type of mobile game really matters in Korea. For example, MMOs are very popular in South Korea, especially MMORPGs like Lineage.
With virtually all South Koreans having smartphones it is easy to see why many gaming companies in Korea are focusing a lot on mobile games. The average Korean spends around 2 hours a day commuting. Most use the Seoul Metro or the bus which is why many Koreans use mobile games to pass the time. The best part is that most mobile games are free to download.
So who are the top players in the mobile gaming industry in South Korea?
PUBG stands for PlayerUnknown’s Battlegrounds and it is one of the most popular online games in Korea. It was developed and published by PUBG Corporation which is a subsidiary of Korean video game company unicorn Krafton. PUBG Mobile is the mobile version of PUBG. This game has done over $7 billion in sales since its release. PUBG Mobile brings in over $8 million in revenue a day! Most of the revenue is coming from China.
Best Mobile Games: PlayerUnknown’s Battlegrounds, Golf King: World Tour, Warth of Belial
Market Cap: $10.3 billion
Best Mobile Games: Lineage M, Lineage 2 Revolution, Lineage 2M, Lineage W
Market Cap: $7.7 Billion
Best Mobile Games: The Seven Deadly Sins: Grand Cross, Seven Knights 2, The King of Fighters, and MARVEL Future Fight
Market Cap: $7.1 billion
Korean gaming company Pearl Abyss came on the mobile gaming map with its popular mobile game Black Desert Mobile and Eve Echoes. Black Desert Mobile is an MMORPG game that has found success in Korea and has been released in China in 2022. Black Desert Online is a very popular online PG game in Korea. Therefore Pearl Abyss decided to make their mobile version of the game mimic much of the gameplay found in Black Desert Online.
Best Mobile Games: Black Desert Mobile, Eve Echoes, Mobile Royale
Market Cap: $5.4 billion
Best Mobile Games: Odin: Valhalla Rising, The War of Genesis: Battle of Antaira, Friends Racing, Lookism
Market Cap: $4.1 billion
Best Mobile Games: Dungeon and Fighter, MapleStory, V4, Counter Side, Kart Rider Rush
Market Cap: $2 billion
“The Walking Dead is a huge franchise. I don’t think only one series could explain the whole narrative for that world. And I know that Walking Dead has mulitple mobile games but I think there’s also multiple things to deliver to the users,” said the president of Gamevil Com2Us, Kyu Lee.
Best Mobile Games: Summoners War, Inotia 4, Ace Fishing
Market Cap: $1 billion
Best Mobile Games: MU Origin 2, MU Origin, Reign of Revolution Mobile, and Shot Online Golf
Market Cap: $650 million
“In the fast-paced global business environment, NHN will try to put more focus on its core values to develop new technologies and expand its operations,” said CEO of NHN Entertainment, Chung U-Jin.
Best Mobile Games: Dr. Mario World, Crusaders Quest, Baseball 9ers
Market Cap: $1.1 billion
Best Mobile Games: Miracle Sword
Market Cap: N/A
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