Industry officials revealed that Korean game companies, including Krafton and Devsisters, are exploring new business opportunities in Indian game market, increasingly viewing the country as the next frontier. They anticipate that India will surpass China as the world’s largest game market due to growing competitiveness in game development, evolving user preferences, and licensing challenges in China.
Indian game market, still in its growth phase, presents a significant opportunity for Korean companies specializing in mobile games. Indian gamers primarily favor mobile gaming over console or PC games, making the market promising for Korean developers.
A South Korean industry official highlighted the increasing number of gamers in India compared to the already competitive Chinese market. Factors like rising income levels, expanded internet access, and higher smartphone penetration rates contribute to the expansion of India’s mobile game market.
Krafton’s Success with BGMI
Krafton has already found substantial success in India with its mobile survival shooting game, BATTLEGROUNDS MOBILE INDIA (BGMI). Launched in July 2021, BGMI surpassed 100 million users within a year and now boasts 180 million. This popularity helped Krafton achieve record sales of 665.9 billion won ($487 million) in the first quarter.
During an earnings call, Krafton’s CFO, Bae Dong-keun, emphasized the company’s focus on providing stable BGMI service and investing in game publishing and development in India. He announced plans to publish six new games in India this year, with two already launched, including Bullet Echo India.
Devsisters is also making strides in the Indian market by partnering with Krafton. The company plans to publish its flagship game, Cookie Run, in India, anticipating a positive reception due to its easy and intuitive gameplay. Krafton’s CFO noted that Cookie Run’s intellectual property (IP) would likely resonate well with Indian users.
Government Support for Expansion
The Korean government recognizes India as a crucial market. During an economic ministers’ meeting chaired by Deputy Prime Minister Choi Sang-mok, a plan to promote the game industry from 2024 to 2028 was announced, focusing on strengthening global competitiveness and identifying India as a critical focus area.
Yoon Yang-su, director of content policy at the Culture Ministry, stated that the Korea Creative Content Agency would establish a branch in India to support Korean firms’ expansion efforts.
Beyond India, Korean game companies are also targeting the Middle Eastern market. In 2023, Wemade established Wemix Mena in Abu Dhabi to expand its regional business. Com2uS, during an earnings call in November, mentioned plans to develop a Middle Eastern branch to offer games tailored to local preferences.
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