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Local game makers' royalty earnings rise in 2012

Nov. 12, 2013 - 09:39 By 윤민식
South Korean game makers' income from royalties paid by foreign firms rose 19.3 percent in 2012 from a year earlier on the back of popularity of the country's pop culture overseas, data showed Tuesday.

Local game makers earned US$680 million from receiving fees on their intellectual property last year, up from $570 million tallied in the previous year, according to the data by the central bank.

Such earnings compared with a combined income of $120 million logged by other companies dealing with Korean cultural commodities. The companies include broadcasters and filmmakers.

Known here as the Korean Wave, or Hallyu, for their popularity sweeping through Asia, Europe and the Americas, popular Korean cultural products like TV shows and music have been a growing source of revenue for local game makers.

Local game companies' income from royalties paid by foreign firms has been on the sustained rise, the data showed. Such earnings hit $270 million in 2010 and $570 million in 2011 as the popularity of Hallyu has surged. (Yonhap News)