South Korea’s meteoric rise to dominance in the gaming world would not have been possible without it. It currently sits as the world’s fourth-largest market share, behind only the United States, China, and Japan. As the gaming market saw exponential growth, so has its extraordinary monetary success. Its current valuation of 22.96 trillion won — around £11.7 billion — marks a staggering 47% growth between 2019 and 2023.
The country’s gaming industry has burst at the seams with potential and success back home. Amazingly, exports exploded by 41%, reaching 10.96 trillion won (£5.6 billion) over the same period. The booming esports scene has already left a major footprint. In 2023, it was worth approximately 257 billion won — a little over £128 million. In this installment, we take a deeper look at the cultural and technological forces that have powered South Korea’s launch to the leading edge of the global gaming scene.
The Rise of Esports and Gaming Culture
South Korea’s esports industry has been at the forefront of shaping the nation into a global gaming juggernaut. With LCK teams winning 10 of the last 15 worlds, it’s clear that the country’s dominance isn’t over. Professional players train extensively, often practicing more than 16 hours a day to refine their skills and maintain competitive edge.
Esports are hugely popular and substantial investment in training facilities is a reflection of that. Perhaps the best known of these is the Nongshim Esports Academy, which is located in the Guro district of western Seoul. Candidates looking to register for training can do so at this link. In exchange for a fee of under 500,000 won (£253), they provide 20 hours of training per month. It isn’t easy. Training at these academies requires discipline and commitment. Sadly, less than 1-2% of players actually make it as a professional player or get esports jobs associated with that path.
“If you’re not good enough, you have to give up quickly. It’s that kind of market.” – Hwang Sung-hoon (Kingen)
The esports scene has garnered mainstream attention, with major tournament finals recently broadcast on terrestrial television, drawing fans who follow players akin to pop idols. This cultural change represents an increasing acceptance and appreciation of the value of gaming in South Korean society.
Economic Impact and Global Reach
The economic impacts from South Korea’s gaming industry are massive. The industry is a powerful job creating force in communities. It is one of the key ingredients for our nation’s cultural exports. The gaming industry leads Korea’s content exports market, accounting for almost two-thirds of the industry’s total. It has even surpassed cultural exports from more traditional industries such as K-pop.
Elite professional players and streamers often make six-figure incomes. They regularly pull in six-figure USD sums with a combination of salaries, prize money, and sponsorship deals. This economic opportunity has been a huge motivator for young people to study and work in the gaming space. The problem is professional gaming careers tend to end before age 30, which presents a rather large challenge. This timeline is even more strained for male players, given their mandatory military service requirements.
Shifting Perspectives on Gaming
In an impressive about-face, he firstly announced on Twitter that “Games are not addictive drugs,” before tripling down on this major policy shift. This is a dramatic departure from the prior position that cast gaming as a destructive social addiction. This quote illustrates the evolving perspective on gaming among South Korean leadership. It creates an opportunity for even more progressive policies to be adopted to help the industry thrive.
“As professional gamers like Roh Hyun-jun express their aspirations in this competitive environment, they highlight the unique camaraderie that comes from team-based games: ‘When you play team games with five people, you really feel that sense of unity.’”
“I want to leave my name as the most famous pro gamer.” – Roh
This competitive environment creates a dynamic space where each player is forced to push to the edges of innovation and beyond. As Aiden Lee states, “What makes the difference is competition and concentration.” This dynamic culture is both a magnetic force for personal achievement and a raging tide lifting South Korea’s presence on the worldwide gaming scene.