Billion Dollar Industry: E-sports see huge potential in South Korea
Updated 17:00, 04-May-2019
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Competitive online gaming, also known as E-Sports, saw global revenues jump to around 900 million U.S. dollars last year, an almost 30 percent rise from the year before. Price Waterhouse Cooper is predicting the sector has higher global growth potential than football. South Korea was an E-Sport pioneer and continues to turn out a stream of world champions. CGTN's Jack Barton takes a look at how the country is maintaining its edge and what gamers are thinking of the economic potential.
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 "Faker earns around three million, sometimes up to five million US dollars each year. For comparison, top Korean Professional Baseball player only gets about 2.5 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 "Globally, viewers of 'load' cup are more than that of the US Major League Baseball final. Goldman Sachs believes the industry has enormous growth opportunities."
Academies like this one are helping South Korea to keep its edge.
SUNG CHANG-KYUNG STUDENT, SEOUL GAMING ACADEMY "Before I came here, I only played with friends at the same level as mine. In this school, I can learn from much more experienced players. That's why my skill is growing really fast in here."
JACK BARTON SEOUL "And for people who can't afford an academy, 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 "One of the main advantages for eSports is its low barrier of entry. Basically, the only requirement is a computer. Other sports are more place or physique demanding."
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.