Console Game Retry After 8 Years of Failure... 3N Says "Let's Compete Globally"

[Asia Economy Reporter Bu Aeri] In 2012, when domestic console games were virtually nonexistent, Nexon ambitiously released 'Dungeon Fighter Live: The Fall of Hendon Myre' for Microsoft's console 'Xbox 360.' This was based on the judgment that since 'Dungeon & Fighter' was popular as a PC game, there would be a chance of success in console gaming as well. However, MORPGs (Massively Online Role-Playing Games) were an unfamiliar genre to console users, and the recognition of Dungeon & Fighter was low. Ultimately, the ambitious challenge in console gaming failed to gain much response and faded into history. Now, eight years later, Nexon is making a comeback to restore its honor.

◆3N, Racing to Enter Console Gaming = According to the gaming industry on the 3rd, the three major domestic game companies, 3N (Nexon, Netmarble, NCSoft), have all launched challenges in the global console game market this year. With the issuance of game service licenses (panho) blocked in China, their strategy is to focus on the North American and European markets instead of China to increase overseas sales. Consoles are preferred platforms in North America and Europe, where family gaming culture is well developed.

Nexon plans to release 'KartRider Drift' within the year, based on its flagship intellectual property (IP) 'KartRider.' It is a game compatible with Microsoft's console Xbox One and PC. A Nexon official explained, "In 2012, the atmosphere was not ready for challenging consoles, but now the console platform is considered a standard for global expansion."

Netmarble also revealed its first console game, 'Seven Knights Time Wonderer,' on the 27th of last month, with plans to release it this summer. This game, released on Nintendo's console 'Nintendo Switch,' is based on Netmarble's flagship IP 'Seven Knights.'

NCSoft will officially enter the global market this fall with the release of the music game 'Fuser.' 'Fuser' is NCSoft's first console game. While mobile games like 'Lineage M' and 'Lineage 2M' have been very popular domestically, NCSoft has not achieved significant success overseas. The company aims to diversify its revenue through the 'console' platform. Kim Taek-jin, CEO of NCSoft, stated at this year's shareholders' meeting, "The rapidly growing global console game market will become a new stage."

◆Targeting Western Markets Instead of China= One major reason domestic major game companies are turning to consoles is that new titles have been unable to obtain panho (game service licenses), blocking opportunities to enter the Chinese market. With Chinese President Xi Jinping's visit to Korea becoming uncertain and the impact of the COVID-19 pandemic, the outlook for panho issuance has become even bleaker. An industry insider said, "Although China is a large market, since it is uncertain when the panho will open, we cannot focus solely on China. Market diversification is necessary, and the direction has shifted to the North American and European markets."

The growth trend in domestic and international markets also plays a role in 3N's shift to console games. According to the Korea Creative Content Agency, the domestic console game market is expected to grow from 533.4 billion won this year to 704.2 billion won in 2021. The industry expects the domestic console game market to grow as single-person households increase and generations familiar with gaming become parents. Globally, the console game market is also growing annually. According to Newzoo's '2019 Global Games Market Report,' the global console game market size reached 58 trillion won (47.9 billion USD) last year and is expected to grow 9.7% annually to reach 74 trillion won (61.1 billion USD) by 2022.

Some predict that it will not be easy for domestic game companies to achieve visible results immediately. Wi Jeong-hyun, president of the Korea Game Society, pointed out, "There is the challenge of competing with renowned overseas console games. Most domestic games are characterized by styles where players kill others and level up, but on consoles, storyline, character completeness, and music are all important."

This content was produced with the assistance of AI translation services.