South Korea's 5-Year Plan To Grow Its Console Gaming Market By 2028
Portfolio Pulse from Franca Quarneti
South Korea's Ministry of Culture, Sports, and Tourism has announced a five-year plan to expand its console gaming market by 2028, aiming to reduce its reliance on mobile and online gaming. The plan includes supporting local developers in partnerships with major console manufacturers like Microsoft, Sony, and Nintendo to boost South Korea's global console market share from 1.5% to closer to the global average of 28%.
May 01, 2024 | 5:50 pm
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Microsoft Corp. is set to collaborate with South Korean developers to create new console titles as part of South Korea's five-year gaming industry expansion plan.
Microsoft's involvement in South Korea's console gaming expansion plan is likely to foster new opportunities for growth and innovation within the sector, potentially leading to increased market share and revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nintendo ADR is to play a significant role in South Korea's strategic plan to enhance its console gaming market through partnerships with local game developers.
Nintendo's participation in South Korea's plan to elevate its console gaming sector indicates potential for market expansion and increased engagement with South Korean developers, likely benefiting Nintendo's market presence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sony Group Corp. is identified as a key partner in South Korea's initiative to grow its console gaming market, supporting local developers to produce new games.
Sony's collaboration with South Korean game developers as part of the country's gaming industry growth plan suggests a positive outlook for Sony's engagement and potential revenue increase in the Asian market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80