In recent years, the gaming industry has emerged as one of the key sectors generating new leasing demand in Seoul’s office market, exerting a growing influence on the commercial real estate landscape. While demand for prime office space was traditionally led by financial institutions, large conglomerates and professional services firms, major gaming and content companies are now reshaping the demand structure—either by directly developing headquarters or pre-leasing large-scale office assets.
Leading Korean gaming companies—including Nexon, NCSoft, Netmarble, Krafton,and Com2uS—are no longer just tenants. They are increasingly acting as anchor tenants in large office developments and, in some cases, as strategic investors, playing a critical role in the commercial real estate market. This trend is likely to become even more pronounced as stricter equity requirements in the project financing (PF) market increase the importance of creditworthy, blue-chip tenants.
Recent examples highlight this shift. In Q1 2026, Nexon Games secured a pre-lease in the Aster office development project in Yeoksam, Gangnam. Com2uS has participated in the ONE X project in Euljiro as both an investor and anchor tenant. Meanwhile, Krafton is advancing its headquarters development in Seongsu while also committing to a long-term pre-lease (approximately 48 months starting from 2028) in a new office project developed by Mastern Investment Management and KT Estate, further strengthening its presence in the Seongsu district.
The influence of the gaming industry on real estate extends beyond simple expansion of leased space. Major gaming companies are now engaging in the market through multiple strategies:
Districts around Seoul, including Seongsu, Euljiro, Gangnam, Gwacheon, and Pangyo, are increasingly evolving into new demand clusters, closely aligned with the expansion strategies of gaming companies.
This shift reflects a broader structural change in Seoul’s office market, where demand is diversifying away from traditional sectors such as finance and conglomerates and moving toward gaming, content and technology-driven industries.
Office Location Strategies of Major Korean Gaming Companies
1. Nexon / Nexon Games: Dual-Hub Strategy – Pangyo Base with Expansion into Gangnam
Nexon Korea’s primary base remains in Pangyo, Seongnam, which continues to serve as the group’s core development hub. However, with Nexon Games planning to occupy space in the Aster office development project in Yeoksam, Gangnam, the company is increasingly adopting a dual-location strategy spanning both Pangyo and Gangnam.
This reflects a functional separation strategy—maintaining Pangyo as a development-focused base while establishing Gangnam as a hub for business and corporate functions.
2. NCSoft: Strengthening the Pangyo R&D Cluster
NCSoft continues to anchor its operations around its Pangyo R&D Center, while also advancing plans for a Global RDI Center to accommodate the expansion of its research and development workforce.
This highlights that major gaming companies are not merely tenants, but end-users developing owner-occupied headquarters to support large-scale R&D operations. At the same time, NCSoft serves as a key anchor tenant underpinning long-term office demand within the Pangyo IT cluster.
3. Netmarble: Strategic Shift from Guro to Gwacheon
Netmarble’s current headquarters, located in G-Tower in Guro, Seoul, is a landmark office building with 39 floors and approximately 180,000 sqm of gross floor area, and represents one of the most prominent corporate HQs in the Guro Digital Complex.
Recently, Netmarble has been pursuing the sale of its Guro headquarters while repositioning its operational footprint. At the same time, the “G-Town” project in Gwacheon Knowledge Information Town is emerging as a new strategic base. This project, with approximately 120,000 sqm of office space, is expected to serve as a future operational hub for the company.
From a real estate perspective, Netmarble’s move reflects a shift in its office footprint, as it relocates its headquarters from Guro to Gwacheon and establishes a new operational base.
4. Krafton: A Defining Case Reshaping the Seongsu Office Market
Krafton currently maintains major office operations in Centerfield, Yeoksam (Gangnam), but its mid- to long-term strategy is clearly shifting toward Seongsu.
A large-scale mixed-use office development (approximately 210,000 sqm GFA) is underway on the former E-Mart headquarters site in Seongsu, which is expected to become Krafton’s future headquarters. In parallel, the company has been pre-leasing additional office space in the Seongsu area, further solidifying its long-term presence.
These developments are playing a pivotal role in positioning Seongsu as an emerging business district centered around content and technology companies.
5. Com2uS: Relocation from Gasan to the CBD
Com2uS was previously based in the Gasan Digital Complex but is now expanding into the CBD by participating in the Euljiro Supyo District redevelopment project, ONE X, as both an investor and anchor tenant.
This represents a clear shift in the gaming industry’s office footprint—from Gasan-based clusters toward prime CBD office demand.
Market Implications
Taken together, the real estate strategies of major Korean gaming companies can be categorized into three key types:
1.Owner-occupier headquarters development.
Representative companies include NCSoft, Krafton, Netmarble, and Pearl Abyss.
2. Anchor tenant pre-leasing in new developments.
Examples include Com2uS in ONE X and Nexon Games in the Aster project in Yeoksam.
3. Business district restructuring.
Distinct roles are emerging across key office clusters:
Major Korean gaming companies are no longer peripheral demand drivers in the office market. They have become key players in the commercial real estate landscape—developing their own headquarters, pre-leasing major office developments, and actively shaping new business districts.
In particular, the cases of Nexon Games, Com2uS and Krafton demonstrate that the gaming industry is emerging as a new anchor tenant group within Seoul’s prime office market. Given their strong liquidity and brand power, continued headquarters repositioning and new developments by major gaming companies are likely to remain a key variable influencing the commercial real estate market in Seoul and the broader metropolitan area.
Executive Director, Head of Research – Korea
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