The country’s major game developers continue to focus on overseas markets as there are no signs of a thaw in the government’s stance on games that include elements of blockchain and play-to-earn.
A volte-face by South Korean President Yoon Suk-yeol’s administration when it comes to long-standing government apathy toward the country’s gaming industry is forcing it to stick to overseas markets.
In his election campaign, President Yoon had promised to abolish the ban on the play-to-earn (P2E) industry in the country and enact regulations that would encourage the wider gaming industry that is increasingly developing blockchain-based titles. But that promise was omitted from his final election manifesto towards the end of the election.
“The president has not mentioned [P2E] since,” Dongyang University’s Kim Jung-tae told Forkast. “And the minister of culture repeats the same quote like a parrot — saying we need to take a careful and comprehensive approach,” the professor of gamification...
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