More South Korean game developers target Vietnam
Major game developers from South Korea, including Nexon and NCSoft, are actively expanding their presence in Southeast Asia by establishing subsidiaries or joint ventures in key markets, including Vietnam.
NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. Photo courtesy of VNG.
In 2024, NCSoft formed a joint venture, NCV Games, with VNGGames, a subsidiary of Vietnamese tech giant VNG.
Through this partnership, NCSoft plans to launch its blockbuster game Lineage2M, originally released in South Korea in 2019, across six Southeast Asian countries – Vietnam, Thailand, Malaysia, Indonesia, Singapore, and the Philippines – on May 20.
The firm used to distribute mobile games in Southeast Asia, but the latest move marks the first time NCSoft has established a joint venture to provide localized services in the region.
VNGGames, Vietnam’s leading gaming company, is rapidly expanding into Southeast Asia and China. It has also been chosen by several Korean gaming firms, such as Line Games and Devsisters, as a distribution and publishing partner.
Meanwhile, Nexon is aggressively recruiting top-tier game development talent in Vietnam through its specialized gaming service subsidiary, Nexon Networks.
In 2022, Nexon Networks established Nexon Dev Vina (NDVN) in Vietnam, and it has recently increased its workforce to 90 employees. The company is strengthening collaboration with local development teams, including those affiliated with Nexon Korea.
Since late 2024, the Korean Game Culture Foundation, in partnership with the South Korea Embassy in Vietnam, has been hosting the Korea Game Week to foster industry and cultural exchange between the two nations.
For the second edition of this event this year, leading Korean gaming firms, including NCSoft, Nexon Korea, NHN, and Pearl Abyss, are among the sponsors. The primary reasons for Korean gaming companies' growing interest in Vietnam are the country's vast market potential and lower labour costs.
According to a 2022 report by global market research firm Newzoo, Vietnam had approximately 54.6 million gamers, accounting for over half of its nearly 100 million population.
Moreover, gaming companies are particularly drawn to Vietnam’s competitive labour costs. The annual salary for a junior game developer in Vietnam ranges from KRW7 million to 12 million (approximately $4.750-8.150), significantly lower than in South Korea.
According to 2023 data from Job Planet, the average annual salary for a game developer in South Korea is around KRW36 million ($24,460). At major gaming firms, entry-level developers earn approximately KR 50 million ($33,972) per year.
A representative from a Korean gaming company noted that Vietnam's overall development capabilities are strong, prompting not only major firms but also small and mid-sized gaming enterprises to increasingly outsource talent from Vietnam.
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