Gyeonggi Research Institute issues research report entitled ‘Gyeonggi Province Finds a Path to Creative Economy in the Game Industry’  

◇ Gyeonggi Province accounts for 84.7% of the sales and 70.6% of the exports of the nation’s listed game companies (as of 2013). Pictured: Good Game Show Korea held in May ⓒ Gyeonggi G-News Heo Seon-ryang

Gyeonggi Province accounts for 84.7% of the sales and 70.6% of the exports of the nation’s listed game companies (as of 2013).

According to a research report entitled ‘Gyeonggi Province Finds a Path to Creative Economy in the Game Industry’ that was presented on September 15 by Moon Mi-seong, Director of the Creative Economy Research Department of the Gyeonggi Research Institute, Gyeonggi Province’s game industry accounts for 84.7% of the total sales and 70.6% of the total exports of the nation’s listed game companies as of 2013, surpassing Seoul,.

This is considered to be attributable to the fact that five companies among the top ten game companies are located in Pangyo Techno Valley and achieved record sales of KRW 2.27 trillion and exports of KRW 6.12 billion.

The number of workers in the game industry has increased by an annual average of 21% for four years since 2009, which is approximately seven times higher than the average annual increase rate (3.1%) of all other industries. Furthermore, research found that, in the game industry, 85.2% of workers are less than 40 years old and 60.1% are highly educated with a college degree or higher, thereby contributing to job creation for young professionals.

As a success factor, the report pointed out the fact that most personnel are young, with those in their 20s and 40s accounting for 33.8% and 51.4%, respecitvely, with 60.1% of personnel being highly educated with a college degree or higher, and thus the industry contributes significantly to job creation for young professionals.

According to Director Moon, reasons for the success of Korea’s game industry include: learning communities and an open knowledge ecosystem centered on young talent; innovative business models such as micropayment and partial fee charging systems via high-speed internet, internet cafes and more; and a market-driven business ecosystem established with a minimum of policy intervention by government.

To foster the game industry of the province, Director Moon suggested that platforms or spaces, such as Game Street in Pangyo Techno Valley and E-Sports Stadium, should be provided to spur further growth across the world, and that the creative economy should be expanded with a focus on the game industry by creating a second Pangyo Techno Valley.

Capturing 6.3% of the world’s game market, the game industry is Korea’s only successful knowledge service industry led by the private sector. In the online game market, particularly, Korea’s game industry ranks second, following China, with 28.6% market share. 

ⓒ Gyeonggi G-News | Kim Jinkyoung jinkyoung_kim@nate.com

http://gnews.gg.go.kr/news/news_detail.asp?number=201409171039307055C052&s_code=C052