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Joymax moves to secure expanding online markets

Early inroads to Middle East and South America important in competitive market, says CEO of MMOG company

The CEO of Seoul-based online game developer and publisher Joymax has expressed a desire to expand business into the underdeveloped markets of the Middle East, South America and East Europe - markets which he sees as emerging and important to secure early on.

Game content is relatively less developed in these areas, Jeon Chan-woong told The Korean Herald, and the regions are at an emerging stage in terms of online gaming.

"Securing those markets first would help us save marketing costs, as well as create a strong brand image relatively easily," the CEO said.

These inroads are particularly important for an online gaming company such as Joymax, Jeon said, because popular content can come and go in a single day in the saturated, highly competitive market.

However, the company isn't looking to expand in China, where Jeon believes the market is already crowded.

"In China, too many developers are jumping into MMORPGs," he said.

Joymax's most popular online game, Silkroad Online, already boasts players from 180 countries. In 2008, more than 95 per cent of the company's USD 26.5 million revenue came from its overseas sales, while this year second quarter revenue of USD 6.5 million marked a 31 per cent increase on last year.

The company recently signed contracts to export the game to Russia, and also to release another of its online titles, Bumpy Crash, to Thailand.

From October it will also offer Silkroad Online in languages including Spanish, Turkish, German and Arabic.