Major Korean game companies unveiled new subculture games at the Tokyo Game Show in Japan on September 17.
What is driving major companies to enter a genre once considered the preference of a niche group of enthusiasts?
More notable than participation in the exhibition itself is the change in how game companies view fandoms and overseas markets.
3-Line Summary
1. Korean game companies unveiled new subculture titles.
2. 127 Korean companies participated in the Tokyo Game Show.
3. Narratives and IP that connect fandoms are key.
The Tokyo Game Show Attracting 127 Companies
According to a report by JoongAng Ilbo, 127 Korean game companies participated in the Tokyo Game Show (TGS) in Japan, which opened on September 17. This was 50 more companies than the previous year. Along with Gamescom in Cologne, Germany, TGS is considered one of the major global game shows and is also an opportunity to meet users and industry professionals familiar with Japanese anime-style games.
At this exhibition, Nexon presented “Paraeidolia,” NC presented “Astra: Oratio,” Netmarble presented “Pearl in Blue,” and Smilegate presented “Future Sight: The Invisible Future.” These companies have grown primarily around massively multiplayer online role-playing games (MMORPGs). The change is clear when compared with the fact that Nexon was the only Korean game company to set up an independent booth at TGS in 2024.
However, a title appearing at an exhibition does not necessarily mean it will be a hit. It is important to distinguish that each company is at the stage of unveiling new titles and checking user responses.
How Companies Are Looking Beyond MMORPGs
Subculture games are games centered on anime-style graphics, characters, and stories. JoongAng Ilbo reported that Nexon’s “Blue Archive” recorded cumulative revenue of $6억5000만 over 4 years after its release, with Japan accounting for 73% of its revenue. It also reported that Shift Up’s “Goddess of Victory: NIKKE” recorded $10억 in revenue over 2 years after its release, with half coming from Japan.
These figures do not guarantee the success of every subculture game. However, they can be understood as examples showing that, from the perspective of Korean game companies, responses in the Japanese market and character fandoms can affect business sustainability. As users’ attachment to characters grows, they may create derivative works such as web novels or merchandise outside the game, which can also lead to collaborations with other brands.
The reason game companies are focusing on this genre is not simply to change the art style. It is closer to a choice to design a long-term user base and a fictional universe together.
The Remaining Challenge Is the Original Story
IT Chosun reported that 332 works from 42 countries were exhibited at the Busan Indie Connect Festival 2026 in August, and that Korean game companies are discovering indie games through publishing and investment. The movement to secure ideas from a variety of developers, not only from major companies’ new titles, is also one factor behind changes in game lineups.
In subculture games, the stories and fictional universes that make users grow fond of characters are especially important. JoongAng Ilbo reported that a lack of original intellectual property (IP), such as animation and comics, is cited as a weakness of the Korean industry. Ultimately, more important than the fact that more new titles are being unveiled is whether each work can create distinctive narratives and characters capable of retaining users.
References
Tags #Games #KoreanGameCompanies #SubcultureGames #TokyoGameShow #TGS #Nexon #NCSOFT #Netmarble #Smilegate #BlueArchive #GoddessOfVictoryNIKKE #GameIP #IndieGames