Korea's G-Star 2025 loses earlier glow and star names as industry falls into doldrums

By Kim Dong-young Posted : November 12, 2025, 15:46 Updated : November 12, 2025, 17:18
NCSofts Aion 2 Courtesy of NCSoft
NCSoft's Aion 2/ Courtesy of NCSoft
 
SEOUL, November 12 (AJP) - G-Star 2025, South Korea's annual expo once celebrated for showcasing the country's global gaming prowess, opens Thursday in Busan in a visibly downscaled form that reflects a stagnating blockbuster pipeline and weakening earnings across the industry.

The event at Bexco will feature about 3,010 booths, down from 3,359 last year, and will notably miss major players such as Nexon, Pearl Abyss and Smilegate.

The subdued tone follows the game industry's grim third-quarter results. Netmarble and Krafton were the only two of the five largest publishers to post modest revenue gains, as Korean companies that once dominated online and mobile gaming now struggle to fend off Chinese rivals amid a lack of major new releases.

Korea failed to secure a single spot in the top 10 mobile games by revenue in October, according to Sensor Tower. China's Tencent ranked second, with domestic competitor Century Games taking fifth.

NCSoft, which posted an operating loss of 109.2 billion won last year after years of declining users, is mounting an all-in wager on "Aion 2," the massively multiplayer online role-playing game launching Nov. 19. The company is operating 300 booths as the event's main sponsor.

"We have considerable confidence internally in Aion 2," NCSoft CEO Park Byung-moo said in a recent earnings call. The game will preserve the original title's aerial combat while expanding player-versus-environment content. The company will also showcase looter-shooter "Cinder City" and three additional titles.

Netmarble, last year's Grand Prize winner at the Korea Game Awards, will operate 112 booths with 145 demo stations for titles including "Solo Leveling: Karma" and "Project Evilbane," a cooperative action game receiving its first public demonstration.

Krafton will unveil "Palworld Mobile" for the first time, developed by its PUBG Studios using Japanese studio Pocketpair's creature-collection franchise. The firm continues searching for a successor to its aging Battlegrounds franchise, which will have a separate booth run by Kakao Games.
 
Graphics by AJP Song Ji-yoon
Graphics by AJP Song Ji-yoon

Smaller exhibitors will take up much of the remaining space. Webzen will feature its defense game "Gate of Gates" with cosplay models used in recent promotions. Neowiz will demonstrate a spin-off of "Sanabi," a dystopian action-platformer blending Korean cyberpunk aesthetics with narrative gameplay. Gravity plans to exhibit 18 titles, including a new Ragnarok Online project.

Amid sour sentiment at home, several major publishers are shifting their focus overseas through the Tokyo Game Show and Gamescom.

Pearl Abyss showcased "Crimson Desert" at both Tokyo and Cologne this year but is skipping Busan. Smilegate, which ran a large booth at Tokyo, is participating only in business-to-business meetings at G-Star. Nexon, last year's main sponsor, also attended the Tokyo Game Show but opted out of this year's Busan event.

Foreign players are filling part of the void. Blizzard Entertainment is returning after a 12-year absence with an "Overwatch 2" experience zone and will participate in the expo's official esports tournament. Japan's Sega and Bandai Namco Entertainment will operate booths with existing franchises, and game engine developer Unity will also join.

"The convention remains one of Korea's premier exhibitions, giving companies a platform to present new products to the public," said Kim Jung-sun, a professor of game content at ChungKang College of Cultural Industries, dismissing arguments about G-Star's decline.

"With the proliferation of game festivals and viral marketing channels, participation has become a more strategic choice. G-Star is evolving beyond a platform for game companies — it now serves content creators and related industries as well."
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