South Korean Gaming Giants: 2025 Performance Review & 2026 Outlook
are you curious about the financial health of the biggest names in South Korean gaming? 2025 proved to be a year of contrasts, with some companies soaring on the success of established franchises and new IP, while others faced headwinds due to release delays. This article dives deep into the performance of Nexon, Krafton, Netmarble, NCSoft, and Kakao Games, analyzing the factors driving their results and offering a glimpse into what 2026 might hold.
2025: A Year of Diverging Fortunes
The South Korean gaming landscape is fiercely competitive, and 2025 highlighted the importance of consistent content delivery and strong intellectual property. Industry analysis reveals a clear correlation between successful game launches and financial performance.Let’s break down each company’s results:
Nexon: Riding the Wave of Popular Titles
Nexon experienced meaningful growth in 2025, projecting revenue of 4.5594 trillion won (approximately $3.16 billion) and an extraordinary operating profit of 1.4112 trillion won ($979 million) – a 13.7% and 26.4% increase year-over-year, respectively. This success was largely fueled by the strong performance of recent releases like Mabinogi mobile, Maple Raising, and The First Berserker: Khazan. Notably, Mabinogi Mobile received top honors at the 2025 Korea Game Awards, solidifying its position as a major player in the mobile gaming market.Nexon’s ability to consistently deliver engaging experiences across multiple platforms proved to be a winning strategy.
Krafton: PUBG Continues to Dominate
Krafton also enjoyed a robust 2025, exceeding 1 trillion won ($693 million) in operating profit.Revenue is estimated at 3.09 trillion won ($2.14 billion), with operating profit reaching 1.301 trillion won ($902 million) – representing approximately 14% and 10% growth compared to the previous year. The enduring popularity of PUBG: Battlegrounds remains the cornerstone of Krafton’s success, with Battlegrounds Mobile India playing a crucial role in expanding its reach within the lucrative Indian market. Krafton’s focus on refining and expanding its flagship franchise continues to pay dividends.
Netmarble: New IP & Self-Growth drive Profitability
Netmarble demonstrated a strong recovery in 2025, projecting revenue of 2.79 trillion won ($1.93 billion) and an operating profit of 360 billion won ($250 million) – a 4.7% and 68% increase year-over-year.This impressive turnaround was attributed to the successful launch of new titles based on Netmarble’s in-house IP, including Vampyr and Seven Knights Re:Birth Global. Furthermore, a strategic shift towards a higher proportion of self-developed games contributed significantly to improved profitability. Netmarble’s investment in original content and internal development capabilities is clearly yielding positive results.
NCSoft: Aion 2 signals a Return to Form
After experiencing a loss in the previous year, NCSoft is poised for a return to profitability in 2025. The company anticipates revenue of 1.45 trillion won ($1.01 billion) and an operating profit of 15 billion won ($10.4 million). The early success of the MMORPG Aion 2 is a key factor driving this positive trend, indicating a renewed ability to captivate players with compelling gameplay and immersive worlds. NCSoft’s comeback highlights the importance of revitalizing established franchises and delivering high-quality MMORPG experiences.
Kakao Games: Release Delays Lead to Losses
Unfortunately, Kakao Games faced a challenging 2025, projecting an operating loss despite revenue of 470 billion won ($326 million). This downturn was primarily caused by delays in the release of new titles, leaving a gap in their content pipeline. An operating loss of 39 billion won ($27.0 million) underscores the critical need for consistent game releases in the competitive South Korean market.Kakao Games will need to prioritize a robust release schedule to regain momentum.
Looking ahead: What Will Shape 2026?
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