Nexon becomes 1st Korean game publisher with over 4 trillion won sales

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Nexon becomes 1st Korean game publisher with over 4 trillion won sales - Korea Economic Daily

Quick Summary:

A gaming industry official said a growing number of Korean gaming companies will expand their lineup of titles based on webtoons and web novels in the face of the threat from cloud computing and streaming service companies.CLOUD GAMESNetflix Inc., the world’s largest video streaming platform, has been adapting its original dramas and entertainment shows into games.

Cloud games allow users to stream and play video games over internet without the need of downloading them on a PC or console.“When the cloud gaming market fully takes off, game developers with a large portfolio of game IP will enjoy an unprecedented boom,” said a technology industry official.

Nexon Co., the parent of Nexon Games Co., became the first Korean game developer to achieve the 4 trillion won ($2.8 billion) milestone of sales in 2024, while its local peer Krafton Inc.posted its largest-ever operating profit.