Major Korean game developers including NCSoft (036570.KS) and Nexon are expanding their portfolios beyond massively multiplayer online role-playing games (MMORPGs) to aggressively target overseas markets.
NCSoft, riding on the success of Aion 2, has begun developing a souls-like genre game—a first for the company. Souls-like refers to hardcore action games influenced by the popular "Dark Souls" series. The strategy aims to transform NCSoft into a global company by tapping into the souls-like genre, which commands a strong worldwide fanbase.
According to industry sources Wednesday, NCSoft is developing a souls-like game tentatively titled "Project NS" for console and PC platforms.
Industry observers view NCSoft's foray into the souls-like genre as a strategic move to become a global game company. The souls-like genre has cultivated a worldwide fan base through its high combat immersion and rewarding progression systems. Success in this genre could provide a foundation for mid-to-long-term growth, according to industry analysts.
Elden Ring, a souls-like game developed by FromSoftware and published by Bandai Namco Entertainment, has sold more than 30 million copies. The game won Game of the Year (GOTY) at The Game Awards (TGA) in 2022, one of the world's premier gaming ceremonies.
Korean developer Neowiz (095660.KS) also established itself as a global developer following the 2023 success of its souls-like title "Lies of P." According to market research firm Sensor Tower, cumulative sales of Lies of P and its expansion "Lies of P: Overture" exceeded 11 million copies as of November last year. Lies of P won six awards including the Presidential Award at the 2023 Korea Game Awards, while the expansion received an Excellence Award at last year's ceremony.
NCSoft has been expanding into other genres as well, identifying global mobile casual games as a key growth driver. The company is developing open-world shooter "Cinder City," shooter "Timetakers," and anime action RPG "Limit Zero Breakers."
"This year will be a year of creating new changes through growth and innovation," NCSoft co-CEOs Kim Taek-jin and Park Byung-moo said in their New Year's message Tuesday. "It is time to establish an 'innovation' mindset that doesn't stay with existing methods but re-examines work and processes from a fundamental perspective to drive change."
Other Korean game companies are also attempting global expansion through diverse game genres. Nexon is credited with writing new history in the "K-extraction shooter" category. Extraction shooters are a type of escape game, and Nexon's "The First Descendant," released in October last year, has sold an estimated 12 million copies. The First Descendant won Best Multiplayer Game at The Game Awards, the world's largest gaming ceremony. This marked the first TGA win for a game developed by a Korean company since Krafton's (259960.KS) "PUBG: Battlegrounds" won the same award in 2017—an eight-year gap.
Wemade (112040.KS) will launch extraction shooter "Midnight Walkers," developed by its subsidiary OneWayTicket Studios, in early access on January 29. Krafton is also developing "PUBG: Black Budget" in the same genre.
Netmarble (251270.KS) is developing "Project C" (working title), a Metroidvania action game in the exploration-growth genre. Com2uS Holdings (063080.KS) plans to officially release "Fatal Claw," a Metroidvania game developed by Endeavor Games, in the first quarter of this year. "Hollow Knight," a representative game of this genre, has sold more than 15 million copies.