Telecom and CMP account surplus hits record high in 2017, topping $1 bn

2018.01.21 14:45:54 | 2018.01.21 14:47:19

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Increasing global demand for mobile games and computer software developed by South Korean firms has been helping to extend the surplus streak of the country’s communications, computer and information service account.

According to Bank of Korea on Saturday, Korea’s cumulative surplus in communications, computer and information service account surged to $1.08 billion in the first eleven months of last year, up 19.7 percent from $901.1 million a year ago to the highest since the data has traced from 1980.

The account includes profit gained from computer software, communications services like international call and mail and information services like database in overseas markets. It had contributed a little to service account until the mid 1990s but made deficits in the 2000s because of the purchase of expensive software made by global firms.

However, the communications, computer and information service account successfully swung to a $1.4 million surplus in 18 years in 2012, and the surplus stretched to $702.5 million in 2015 and to $990.5 million in 2016.

The sharp gains in the account largely owed to mobile games created by South Korean game developers. Lineage 2: Revolution launched in December 2016 by Netmarble Games Corp. and Lineage M unveiled in June 2017 by its arch rival NCSoft Corp. gained in popularity from global gamers.

Korea’s gaming industry earned $3.277 billion in 2016 from supplying games and related contents to overseas markets, 2.0 percent higher from a year ago.

By Kim In-oh and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]