Video game

Video game industry shows mixed response to Yoon Suk-yeol’s victory in presidential election

Pangyo Techno Valley in Seongnam, just south of Seoul, is an industrial complex developed as South Korea's version of Silicon Valley.  (Yonhap)

Pangyo Techno Valley in Seongnam, just south of Seoul, is an industrial complex developed as South Korea’s version of Silicon Valley. (Yonhap)

SEOUL, March 14 (Korea Bizwire)With Yoon Suk-yeol poised to be South Korea’s next president, the domestic video game industry is responding with mixed expectations and concerns.

During the presidential campaign, Yoon stressed that video games are not diseases, pledging to loosen regulations to keep abreast of global trends.

As a result, the video game industry expects a lot from the new administration.

However, the president-elect is taking a cautious approach to the approval of play-to-earn (P2E) games, the biggest issue facing the gaming industry, due to concerns about side effects, among others, money laundering.

With this in mind, it is difficult to expect him to take active steps to improve the system in a short period of time.

Considering that Yoon plans to actively farm digital assets such as non-fungible tokens (NFTs) that can be used in video games, the blockchain and cryptocurrency technology-related system would likely be improved ahead of time.

His promise to upgrade the United States’ Terminal High Altitude Area Defense (THAAD) anti-missile system is another factor increasing the unease among workers at video game companies.

China suspended the issuance of new licenses for Korean games in 2016 when the dispute over the deployment of THAAD in South Korea erupted.

Yoon also pledged to revise the current 52-hour workweek policy to allow for longer working hours based on an agreement between business owners and workers.

Video game developer employees, in particular, who frequently work overtime at night and even worked through the night before the introduction of the 52-hour workweek policy, are showing a growing sense of concern over to the revival of past practice on Blind, an anonymous community app for the workplace.

Ashley Song ([email protected])