The gaming market in South Korea is stabilizing. The state organization Korea Creative Content Agency (KOCCA) found out that last year the country’s residents spent $16.4 billion on video games. This is only 0.9% more than in 2021.
The main reason for what is happening is the global economic downturn. The second important reason, according to KOCCA, was the abolition of anti-ovoid restrictions. People started staying at home less and playing video games.
Separately, KOCCA calculated how much Korean gaming companies earned abroad in 2022. According to her estimates, the revenue of the gaming industry in South Korea amounted to $8.97 billion. This is 67.4% of the revenue of all creative industries of the country: music, cinema, etc.
A total of 81.6 thousand people worked in Korean gaming companies at the end of last year. 225 fewer people than in 2021.