South Korea’s Ministry of Culture, Sports and Tourism said it aims to introduce the country to the console market by 2028 through a government investment aimed at reviving the video game industry.
Today, South Korea is the fourth largest market in the world, with players spending $16.2 billion last year.
However, the country only accounts for 1.5% of the total console market, and the country is now taking a closer look at this area, aiming to reach console gamers, who making up 40% of the total in the US and Europe, at least. according to the ministry.
Vice Minister Jeong Byong-gyok said the government will help local companies to cooperate with major industry players such as Sony, Microsoft and Nintendo to produce more games for consoles. It is also intended to support independent developers.
There is also a desire to reduce dependence on mobile and online games, which currently make up the majority of local products, Byung-gyok said.
In short, the goal seems to be to follow the path taken by Shift Up and NEOWIZ’s Stellar Blade and Lies of P, respectively, which managed to enter the Western console market and fame received public and critical attention, thus demonstrating South Korea’s potential.
