SEOUL, Feb. 8 (Korea Bizwire) — Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., said Wednesday it swung to the red last year due to increased spending involving its investment in a local game developer. Kakao Games logged a net loss of 164.2 billion won (US$130.6 million) on a consolidated [...]
SEOUL, Feb. 7 (Korea Bizwire) — With brakes being put on blockchain-based play-to-earn (P2E) game marketing in the domestic market, South Korean game developers are placing a bigger emphasis on overseas markets. WeMade Co. officially launched its “Mir M” game in the global market last week. The domestic version, without blockchain functionality, was released in [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s video game industry is suffering from a delay in the development of new games, a deterioration of business performance resulting from lower than expected popularity of game titles, and the global economic slump. Against this backdrop, layoffs are spreading, particularly among small and medium-sized game developers. Wonder [...]
SEOUL, Jan. 18 (Korea Bizwire) — A court has upheld a measure prohibiting blockchain-based play-to-earn (P2E) games from domestic distribution. The Seoul Administrative Court said Tuesday that it recently dismissed the case filed by SkyPeople, developer of P2E game “Five Stars for Klaytn,” to cancel the Game Rating and Administration Committee’s rating rejection. The committee [...]
SEOUL, Jan. 4 (Korea Bizwire) — As the Chinese government has recently shown some signs of lifting the yearslong ban on South Korean cultural products, including video games, hopes are high that local game developers will be able to tap into the world’s largest video gaming market again. Last week, China’s National Press and Publication [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korean gaming giant Nexon Co. has announced plans to terminate its racing game “KartRider,” launched in 2004, provoking protests from gamers. Some KartRider users on Thursday parked a mobile billboard truck displaying their protests against Nexon’s decision in front of the company’s headquarters in the Seoul suburb of [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korean game companies are expanding their scope of business towards content like TV dramas, webtoons and web novels, encouraged by the success of local cable channel JTBC’s corporate drama “Reborn Rich” that was invested in and produced by a Com2uS Corp. affiliate. RaemongRaein Co., which participated in the production [...]
SEOUL, Dec. 13 (Korea Bizwire) — South Korea has great potential for the booming online gaming industry thanks to its high-speed internet infrastructure like the fifth-generation (5G) network service, a senior Google official said Tuesday. “In Korea, cloud gaming is poised for success on account of the country’s globally renowned internet speeds and 5G infrastructure,” [...]
SEOUL, Oct. 31 (Korea Bizwire) — The Game Rating and Administration Committee (GRAC) recently recommended restricting some sub-culture games to an adult-only level, raising disputes over unfairness in its deliberations. Such disputes are now threatening the existence of the committee. The office of the Rep. Lee Sang-heon of the main opposition Democratic Party on Saturday [...]
SEOUL, Sept. 29 (Korea Bizwire) – South Korea’s game developers are competing to promote their own metaverse platforms as Naver Corp.’s Zepeto dominating local metaverse market. NCSOFT Corp.’s Miniverse, up for release next month, is a platform where users can engage in a variety of online meetings in a 3D space through avatars. The company [...]