Korean Game Companies Invest Heavily in Subculture Games

The subculture game genre, once a niche market, has rapidly become a strategic focus for major South Korean game companies, including Nexon, NCSoft, and Netmarble. Driven by the success of titles like Goddess of Victory: Nike and Blue Archive, these companies are increasingly investing in and developing games within this genre, signaling a significant shift in the domestic game industry.

The Rise of the Subculture Game Market

The popularity of subculture games has seen substantial growth in recent years. According to Mirae Asset Securities, the subculture game market experienced an average annual growth rate of 16.7% between 2018 and 2023, significantly outpacing the overall game market (5.2%) and mobile games (7.8%). The proportion of subculture game sales within the mobile game market rose from 6% in 2015 to 12% in 2023. The global subculture game market is projected to grow from $5 billion (approximately ₩7.2 trillion) in 2025 to $15.3 billion (approximately ₩22 trillion) in 2033, according to Incross.

Industry analysts note that subculture games often boast high average revenue per user (ARPU) despite having a relatively smaller monthly active user (MAU) base compared to casual games, making them a profitable venture for publishers.

Investment by the ‘3N’ Companies

NCSoft is set to globally release Limit Zero Breakers, an animation action RPG developed by Big Game Studio, with a direct investment of ₩37 billion. Nexon is developing Project RX, leveraging the expertise gained from the success of Blue Archive, utilizing Unreal Engine 5 for high-quality 3D graphics and immersive storytelling. Nexon has secured a domestic publishing agreement for Azur Promilia, developed by Chinese subculture game developer Manju Games.

Netmarble is preparing to launch Mongil: Star Dive, a multi-platform game combining the popular “Monster Taming” IP with the subculture genre, currently in global pre-registration. The company also plans to release Seven Deadly Sins: Origin, based on the popular anime series, at the complete of March. Long-running subculture games, such as Fate/Grand Order, continue to thrive in the Korean market.

Expanding Subculture Influence on Marketing

The growing importance of subculture games is also reflected in the marketing strategies of these companies. In December 2025, Nexon, NCSoft, and Netmarble all participated in the ‘AGF 2025 (Anime X Game Festival)’ simultaneously, marking the first time all three companies had jointly participated in a subculture event. Notably, these companies did not participate in ‘G-Star 2025’, the traditional Korean game expo held concurrently in Busan.

AGF 2025 saw an expansion to a three-day event and exceeded 100,000 visitors, a roughly 40% increase from the previous year’s attendance of 72,081. This shift indicates that subculture-focused events are becoming key marketing stages for game companies, extending beyond simple fan gatherings.

As one industry official noted, the perception of subculture enthusiasts has evolved, prompting a reevaluation of whether the term “subculture” still accurately reflects its current mainstream status.