South Korea’s Ministry of Culture, Sports and Tourism said it plans to increase the console segment of the local gaming industry over the next five years. In this way, the regional government hopes to breathe new life into the gaming market.
Currently, the South Korean market is mainly made up of mobile devices, PCs and network services. For comparison: the global console market accounts for 28% of the entire industry, and in South Korea the share of consoles is only 1.5%.
The Ministry of Culture, Sports and Tourism of South Korea cited statistics according to which 40% of players in North America and Europe play on consoles.
It is reported that over the past year, South Korea spent 22.2 trillion won on games, which is approximately $16.04 billion. Based on these data, the region ranks fourth in the gaming segment worldwide.
The ministry said that over the next five years it will help local developers collaborate with companies such as Microsoft, Sony and Nintendo, as well as support independent studios.