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Korean game market poised for blockbuster growth

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(iTers News) – Korea’s game market would exceed 10 trillion won in 2012, and leapfrog to 15 trillion won in 2014, almost double the size in 2011, the Korea Creative Contents Agency said.

According to an annual market survey report conducted by the agency, Korea’s domestic game market reached 8.8 trillion won in 2011, making up 6% of worldwide game market.

PC-based online games were a most powerful driving force, generating 6.2 trillion won in collective revenue, or 70.8% in 2011.

Mobile games represented only 4.8% of the 2011 game markets, chalking up 423.6 billion won in annual revenue.

Yet, the sales of mobile games jumped by 33.8% in 2011 from a year, and are expected to lead the spectacular growth of Korean game market in the years to come, as the penetration of smartphones are gaining up speed to become a most favorite mobile gaming platform.

One out of every 6 Koreans, or 30 million people are using smartphones, and smartphones are becoming a most favorite media where people love to play game.

Meanwhile, the report revealed exports of Korean games surged by 48.1% to hit US$2.4 billion in 2011, while imports slipped 15.5% to US$205 million.
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