Korea announces a bold plan to strengthen the country’s emerging console market

Korea’s Ministry of Culture, Sports and Tourism has announced that it plans to grow the country’s console market vigorously, with significant government investment through 2028, in a bid to revive the country’s fast-growing games industry. Shift Up’s success with Stellar Blade is undoubtedly part of the reason for this console push, but we have to give Neowiz credit. Lies of P impressed and could walk excellently on her own, so Stelly could run.

As reported by Yonhap News Agency (thanks, Gamesindustry.biz), console gamers currently represent 28% of the global gaming market, but Korea’s share of that pie is only 1.5%, according to the ministry. By comparison, about 40% of North American and European gamers play on console.

Despite this, Korean players spent 22.2 trillion won ($16.2 billion) on video games last year, making the country the world’s fourth-largest gaming market. The ministry says it will work with Korean developers and companies such as Sony, Microsoft and Nintendo to develop new console titles over the next five years, in addition to supporting local independent studios.