- Funding
- Market Opportunity
- The innovation of the games
- Growth Potential/Scalability
Here is our list of the top 10 Korean gaming companies
1. Nexon Korea
“It’s an honor to be named as the new CEO of Nexon Korea. Nexon’s biggest strength is its years of experience and expertise in the gaming business. I will work to maximize Nexon’s unique strengths to raise the firm’s competitiveness in the global market,” said Lee Jung-hun, CEO of Nexon Korea.Market Capitalization: $27 billion
2. NCSoft
“We are bringing the biggest change to Lineage that has built NCSoft for the past 20 years,” said CEO of NCSoft, Kim Taek-jin.Market Capitalization: $20 billion
3. Netmarble
Investments by Netmarble
Netmarble has also invested in NCSoft Corp. and HYBE. Both companies have done well during the COVID-19 crisis. The value of NC Soft shares owned by Netmarbel stands at around $1.5 billion. In addition, Netmarble is the second-largest shareholder of HYBE with 450,000 shares (Around 25% equity stake). They also own a 5.6% stake in Kakao Games and a 3.9% stake in Kakao Bank. Kakao Games, Kakao Bank, and HYBE. In addition, to companies, Netmarble has been investing in R&D regarding data infrastructures and AI technology.“The past two decades were all about rolling out landline and wireless internet network infrastructure, and the big question was how we could use that infrastructure to our convenience. But the next two decades will be about how we use data flooding from the infrastructure with the help of AI,” said the Chairman of Netmarble, Bang Jun-hyuk.Market Capitalization: $10 billion
4. Krafton Game Union
Krafton Game Union formerly known as Bluehole, is a Korean gaming company that houses different units of game developers and studios that create their game titles. PUBG Corporation the most successful subsidiary of Krafton is the creator of Playersunknown’s Battleground which is one of the most popular multiplayer games in Korea. Its other subsidiaries include Delusion Studio, En Masse Entertainment, Bluehole Squall, and Red Sahara.
Market Capitalization: $4.2
5. Pearl Abyss
“Our current plan is to have CCP continue operating independently from Pearl Abyss, but our aim is to open lines of communication between the two teams that will have us learning from each other. At some point in the future, our hope is to more closely align the teams to capitalize on each other’s strengths and successfully collaborate to take our games to new players around the world,” said CEO of Pearl Abyss, Robin Jung.Market Capitalization: $3.2 billion
6. Gamevil Com2us
Entering the Chinese Market
China has the world’s largest game market ($36.5 billion). Com2uS obtained a license from the Chinese government for a mobile game (Summoners War: Sky Arena) for the first time in close to 4 years. Market Capitalization: $2 billion7. GRAVITY
Korean gaming company GRAVITY is one of the fastest-growing game developers in Korea. GRAVITY is the only Korean gaming company that is listed on NASDAQ. They became known for their MMORPG Ragnarok Online as well as their IPTV service game that uses Pororo characters. Nearly all of its revenue comes from the games based on the Ragnarok franchise which GRAVITY holds the IP for. GRAVITY is becoming a global company in the online game business by strengthening its development, and technology, and exploring potential overseas markets. The company has established global branches and joint ventures in the US, Europe, and Russia. However, their primary market is in Southeast Asia.
GRAVITY is also successful in the mobile game industry. They have developed various mobile games such as Tower of Accession, Ragnarok Ash Vacuum, etc. Their newest mobile game is Ragnarok M: Eternal Love. They outsource Ragnarok mobile game development to partners in exchange for rights to the Chinese market. This means that GRAVITY has minimal game development costs.
Market Capitalization: $1.25 billion
8. Webzen
“We are working on expanding our IP business, diversifying our portfolio and moving onto other game platforms. We are also in contact with developers from different countries as well as Korea to expand our game development to that of single-A tier games,” said CEO of Webzen, Tony Kim.Market Capitalization: $1.2 billion
9. Smilegate
Smilegate RPG is the subsidiary of the South Korean gaming company Smilegate. Their top game is their PC game Lost Ark and Crossfire. Lost Ark is a multiplayer online role-playing game that was launched in 2018. Crossfire is still one of the most-played online FPS games in China. The game was in development for 7 years with a budget of a little over $88 million. It is currently the 5th most played game in PC bangs in Korea. Lost Ark won 6 awards including the Grand Prize at the 2019 Korea Game Awards.
“When everyone had their eyes on mobile games, we believed in the potential of online PC games and developed Lost Ark. Rather than rest on our laurels, we will continue to expand our base by entering more overseas markets and hosting esports competitions,” said CEO of Smilegate RPG, Chi Wongil.They are also known for their online hit, Crossfire which is the world’s top online FPS game with over a billion players on PC and mobile. It is considered the biggest free-to-play first-person shooter game in the world. Think of it as the Call of Duty of the East. Crossfire alone has generated over $10 billion in revenue for Smilegate. It is also launching a beta test of CrossFireX, a new version of the game for the Xbox One that Smilegate is working on with Remedy Entertainment. Market Capitalization: $1 billion
10. DoubleU Games
Korean game developer DoubleU Games is the top Korean game company dedicated to social casino games. They develop and distribute software for both online and mobile-based games. Their most famous game is DoubleU Casino which is now available in over 120 countries. Other popular games include Take5, DoubleDown Casino, and Ellen Slots. Their target market is users of Facebook and mobile phones. They generated over $420 million in sales in 2018 and surpassed $500 million in 2019 and 2020. Their current market cap sits at around $1 billion. The development of new social titles, in new verticals, will be their plans moving forward.
“We are excited and confident about DoubleU Game’s future as a global leader in social casino,” said CEO of DoubleU Games, Ga-Ram Kim.
