Level up: China takes lion's share of Korean game exports

OCTOBER 5 According to Yonhap News Agency, in light of rapid pace of development of China's game industry and the growth of its player base, China has become South Korea’s largest game export destination, accounting for an almost 40% share of the South Korean game industry’s export market.

According to data released by a Beijing-based branch of the Korea International Trade Association, in 2013 Chinese gaming market sales grew 38.0%, reaching 83.17 billion yuan. Of this, online game industry sales made up for 64.5%, or 53.66 billion yuan. The number of Chinese gamers has exploded: from 67 million in 2008 to 495 million in 2013. Last year China was bedazzled by mobile games, seeing a 248.5% increase in players for a total of 310 million people. Mobile game sales concurrently soared 246.9%, amassing 11.24 billion yuan.

With the rapid rise of the Chinese game industry, the South Korean game industry is ramping up its presence in China. The South Korean Creative Content Agency recently released data showing that, in 2012, China made up 12.3% of South Korean game exports, earning $1.02 billion. China's share of the market shows a rising trend: a 26.7% increase in market share from 2008 to 2011, when China accounted for 38.2%, and then increased to 38.6% in 2012. The ratio estimated for 2013 approaches 40%.

An official from the Korea International Trade Association has said that Korean games have taken China by storm and the South Korean game industry remains focused on the Chinese market. With the rapid development of the mobile gaming market however, South Korea and China are bound to clash in this sector. Korean companies therefore need to adopt effective marketing strategies if they want to take the high ground in this blistering competition.

Source: Sina