South Korea’s gaming industry has been calling for genre diversification for years, claiming to reduce its dependence on MMORPGs, but the reality is that companies are still clinging to ‘pay-to-win competitive MMORPGs’ like Lineage. This is far from the shooting and action-adventure games that global users prefer. The industry’s structural reform remains merely a declaration.
Korean game companies are indeed relying on MMORPGs to generate immediate revenue. According to Sensor Tower, Netmarble’s ‘RF Online NEXT’ recorded $20 million (approximately 27.9 billion won) in revenue within a month of its launch. Wemade’s ‘Legend of Ymir’ also earned $15 million (approximately 20.9 billion won) over 45 days. Industry experts point out that relying solely on this success formula has limitations for global expansion.
Genre Diversification ‘Stagnant’… Only Nexon and Netmarble Show Results
Among major gaming companies, only Netmarble and Nexon have achieved notable results. Netmarble is evaluated as having the most evenly distributed portfolio. Looking at the second quarter’s top game revenue rankings: Seven Knights Revolution (collectible RPG) 13%, RF Online NEXT (MMORPG) 9%, Marvel Contest of Champions (fighting) 9%, Jackpot World (social casino) 7%, and Solo Leveling: Arise (collectible RPG) 6%, showing an even distribution without bias toward specific genres. Despite the major success of new title RF Online NEXT, MMORPG revenue accounts for only 18% of total revenue (Q2 2025). Particularly encouraging is that 66% of revenue comes from overseas.
Nexon also serves various genres including shooting, subculture, and arcade games beyond MMORPGs, achieving results in the console sector as well. Dungeon & Fighter (belt-scroll action RPG), MapleStory (MMORPG), and FC Online (sports) account for over 70% of total revenue. Additionally, they service various live games including Blue Archive (subculture), Sudden Attack (shooting), and Crazy Arcade (arcade). In the console sector, they achieved meaningful results in the global market with The First Berserker: Khazan (expanding existing IP), The First Descendant (looter shooter genre), and Dave the Diver (combining indie game sensibilities with novel gameplay).
NCsoft still has a high dependence on MMORPGs except for Guild Wars 2. The Lineage series, including Lineage M, Lineage 2M, and Lineage W, maintains absolute influence. Including Lineage IP royalty revenue, MMORPGs account for approximately 92% of total revenue. Last year, they launched battle action game BattleCrush and puzzle game PuzzUp Amitoy for revenue diversification, but both failed to receive positive market response and were shut down.
Krafton also generates over 90% of its revenue from the single IP PUBG, leading to company-wide efforts to secure pipelines. However, results have been limited so far. The ambitiously launched Callisto Protocol failed at the box office, while INZOI gained attention by selling over 1 million copies during early access but subsequently lost momentum.
Need to Change Success Criteria to Go Global… Korea Still in Preparatory Stage
Industry experts point out that to enhance global competitiveness, the criteria for game success must be redefined. Experts agree that originality and autonomy are needed during development, while long-term user metrics management is crucial during operation.
According to DataPortal research, global users in their 10s-30s prefer shooting and action-adventure games over MMORPGs. The fact that PUBG in 2017 is the only Korean game to gain attention at global game awards reflects this trend.
Nevertheless, domestic companies are still holding onto MMORPGs. Wemade maintains ‘Mir4’ and ‘Legend of Ymir,’ sticking to them due to their compatibility with blockchain. In the second half, Netmarble, NCsoft, and Com2uS have all announced new mobile MMORPG titles.
However, some changes are being detected. NCsoft has shifted to a multi-studio system targeting shooting and casual games, while Krafton has expanded its pipeline through overseas game company acquisitions and equity investments. An industry official said, “As success cases like Dave the Diver and Lies of P increase, the pace of change could accelerate.”
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