The competitive landscape of video games in South Korea became increasingly consolidated over the review period, with the top five global companies representing 47% share of value sales in 2024, above the Asia Pacific average of 45%. This was an increase from 2019, when the top five global companies accounted for 42% value share.
Pikmin has seen a surge in popularity in South Korea, appealing to millennials and generation Z, with the game’s characters and their appealing aesthetic inspired by alien lifeforms. Downloads are on a consistent upward trend, and merchandise sales based on the IP have also seen a significant increase, contributing to the brand's success.
In early 2025, Webzen, a subsidiary of Kakao Games, strategically invested in game developer GameTogether (also known as Game2Gather – a specialist in 2D animation), acquiring a 37.78% stake.
Krafton continued investing in game development companies for new IPs towards the end of the review period, including Republic Games in the UK, Day4 Studios in the US, and Wolfhouse in Canada during the third quarter of 2024.
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Understand the latest market trends and future growth opportunities for the Video Games industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Video Games industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Video Games
This is the aggregation of video games hardware and video games software. Electronic/computerised educational toys such as Speak & Spell and LeapFrog are excluded from video games and included under pre-school. Video gaming population refers to the population that played a game at least once in the last 6 months on any covered platform. This includes players who have not spent any money on game purchases or in-game content purchases.
See all of our definitionsThis report originates from Passport, our Video Games research and analysis database.
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