Asia, Redefining Growth: Economic potential of South Korean eSports
Updated 16:49, 05-Jan-2019
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Competitive online gaming known as eSports saw global revenues jump to around 900 million U.S. dollars in 2018. That was an almost 30 percent rise from the year before. South Korea has been an eSport pioneer and continues to churn out a stream of world champions. CGTN's Jack Barton takes a look at how South Korea is maintaining its edge and how gamers there view the economic potential of eSports.
The South Korean youth dubbed the 'Michael Jordan of eSports' dons his headphones at a major League of Legends tournament, known locally as the LOLed Cup. Lee Sang-hyeok goes by the name Faker and is as famous in South Korea as top baseball and basketball stars, commanding even higher pay.
HAN TAE-HEE, DIRECTOR GENERAL SEOUL GAMING ACADEMY "As an example of a Korean case Lee Dae-ho a baseball player his annual salary is two and a half million dollars, but faker he gets three million, but the extra salary could be up to five million."
Han Tae-hee runs the Seoul Gaming Academy, where students learn how to go from average to professional in a country viewed by many as the mecca of eSports in which an industry chain has developed including clubs, live streaming, tournaments and sponsorship. Despite South Korea being only the sixth biggest eSports market, many Koreans go on to become coaches and players in the world's two largest markets China and the United States.
JACK BARTON SEOUL "Talent is nurtured from a young age, the best making it to amateur leagues and, if they train hard, and have the talent, it's on to professional teams where top gamers can make millions of dollars."
Global accounting firm Price Waterhouse Cooper predicts eSports revenues will almost double to about 1.6 billion dollars by 2022. Others put the figure higher.
HAN TAE-HEE, DIRECTOR GENERAL SEOUL GAMING ACADEMY "In the case of LOLed Cup there are already more global market viewers than the Major League Baseball final. There are many opinions like Goldman Sachs who think it's going to grow at least two to three times as much as it is now."
Academies like this one are helping South Korea to keep its edge.
SUNG CHANG-KYUNG, STUDENT SEOUL GAMING ACADEMY "Before I came here I was just playing with friends who had a similar level of ability as me. There are lots of students here who are a lot better than me so it gave me a lot more motivation. Now I can play at a higher level."
JACK BARTON SEOUL "And for people who can't afford an academy, well South Korea enjoys ultra-fast broadband and a plethora of internet cafes known as PC Rooms, packed with high-end computers on which to practice."
Business is booming.
JOO JIN-HYUN, MANAGER COME ON PC "Other sports need body conditioning and a specific place to play. But eSports are easy to approach when you have a computer whether you are inside or outside, it's easy to do it."
It does not sound like a recipe for a healthy lifestyle. But there's no getting away from its skyrocketing popularity or efforts to have gaming classified as a real sport with a potential slot at the Olympics.
Jack Barton, CGTN, Seoul.