Games Connection America (GCA) 2016
The Gyeonggi Center for Creative Economy and Innovation (GCCEI), together with Gyeonggi Content Agency and KOTRA, announced that they would help introduce Korean game companies in the North American market through the Games Connection America (GCA) 2016 to be held in San Francisco, USA from March 14 to 16. They will jointly run a large exhibition hall for K-game companies.
Currently 67 percent of the Korean game industry’s total profit comes from the domestic market. The Asian region covers 81 percent of its total income, while the exports to North America and Europe account just for 6.9% and 4.0%, respectively. The size of North American market is estimated to reach US$23.6 billion, accounting for 32 percent of the global game market worth US$73.3billion. But, American major distributors have dominated the market, which poses a high barrier to Korean game companies’ entrance. Last year, Korean game developers earned no more than US$500 million there, accounting for merely 17 percent of the total domestic revenue of US$2.9billion.
Under the circumstance, three Korean agencies decided to help 20 Korean game companies better exposed to local distributors in the North American market by running an exhibition hall together. The event also offers opportunities for one-on-one business meetings. Costs for participation and booth installation are a lot lower than those of other game exhibitions, giving a less financial burden to Korean small game developers.
In order to make this event more worth in terms of business, the three Korean agencies including GCCEI provided crucial information about the North American game market and major buyers in late January. They also published a directory of Korean game companies along with their detailed information. All of the 20 Korean game companies will get assistances in translation, too.
Such startups as Danuon, Maniamind, Madorca, Attocube and FiveStarGames, which the GCCEI is incubating, will participate in the GCA2016.
Lim Deok-rae, head of the GCCEI said, “Last year, 1,640 companies participated in the GCA from all over the world, having 7,642 business meetings. To maximize the effect of our participations this year, we are trying to arrange more practical and useful meetings with venture capitalists, buyers and major distributors. KT will also work closely with us to help Korean game startups make inroads into the North American market.”