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Game Industry as the future of ASEAN-Korea Cultural Content Cooperation

PRESS RELEASE
No.PR/19-37Date14 November 2019
ContactProgram Inquiries: Yeom Su-jin, Officer, TIU (+82-2-2287-1195, sjyeom@aseankorea.org)
Press Inquiries: Cho Ah-ra, PR Officer, IDU (+82-2-2287-1149, ahracho@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.


Game Industry as the future of ASEAN-Korea Cultural Content Cooperation

- ASEAN-Korea Centre to set up ASEAN Pavilion at the Global Game Exhibition G-Star (14-16 Nov, Busan, Korea) -


Busan, Korea ? 33 game companies from 9 ASEAN countries (Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand) will hold a special exhibition at the 「Global Game Exhibition G-STAR 2019」 from 14 to 16 November at the Busan Exhibition & Convention Center (BEXCO). Hosted by the ASEAN-Korea Centre (Secretary General Lee Hyuk), the special display will be held under the theme “ASEAN ‘plays’ the future”. The participating companies will showcase their game content and products and seek partnership with Korean counterparts.


Lee Hyuk, Secretary General of the ASEAN-Korea Centre noted, “Games account for the biggest share of Korea’s cultural content exports. Korea exported a total of $9.5 billion in cultural content, 67% of which was from the game industry. As domestic game market reaches maturity, Korean companies will need to pioneer new markets for continued growth. Meanwhile, the ASEAN game market is fast-growing, and is expected to reach $4.6 billion in sales this year, which is a 22 percent increase from last year. With a young population and a high-proportion of internet-users, the Southeast Asian region’s game market has high potential for growth and therefore is an attractive market for many Korean companies. Cooperation and partnership in this area between ASEAN and Korea will allow the game companies in the two regions to make headway in the global gaming market.”


The game market in ASEAN has made remarkable progress in recent years both in terms of quantity and quality. Last year, two Filipino companies (ThinkBIT Solutions and Ranida Games) that took part in the G-STAR 2018 ranked first and second respectively in the mobile games and on-line games category of the Big Indie Pitch Competition*. Also, in 2017, Singapore’s unicorn gaming and e-commerce company Sea (formerly Garena) was listed on the New York Stock Exchange, the first-ever ASEAN startup to IPO in the United States.


*’Big Indie Pitch’ is a developer pitching competition, which is owned and operated by Steel Media Ltd., European media group, and is featured during G-STAR



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