South Korea’s gaming industry is the world’s fourth largest in sales, but none of the local companies rank among the top producers, a report said.

According to the Korea Creative Content Agency, the industry’s sales came to $5.76 billion in October, ranking fourth behind $34.4 billion for China, $31.53 billion for the US and $17.71 billion for Japan.

However, Korea would rank higher if internet connections are taken into consideration.  

For example, the internet-linked population in South Korea is 48 million compared to 850 million in China. If sales are calculated in terms of the number of people connected to the internet, South Korea would come in second after Japan.