The Korea Mobile Game Association and ForTem Labs FZCO have joined forces, inking a strategic partnership to bolster the development of South Korea's platform industry.

ForTem Labs is a Web3-focused outfit that builds and operates global game payment infrastructure and digital asset trading platforms. Their flagship product, 'ForTem', essentially allows developers to bypass the usual headache of complex system integrations; instead, it uses a redeem code system to get global sales off the ground. They are touting a stablecoin-based real-time settlement structure and what they claim are the industry's lowest transaction fees.

Beyond payments, the firm is building an all-in-one solution that uses blockchain smart contracts to handle the trade of game items, virtual currencies, and other digital assets, promising to squash the potential for disputes and fraudulent activity during transactions.

Under the hood of this deal, both organisations have agreed to support small and indie game studios in their quest to go global while building a robust ecosystem for asset trading. The plan covers everything from facilitating global direct sales and real-time settlement infrastructure to on-boarding games onto emerging global markets and running joint activities for secure digital asset trading. As a sweetener, any member company of the association that commits to the ForTem platform by the end of this year will be locked into a permanent 5% discount on sales commission.

Lee Hwan-soo, CEO of ForTem Labs, sounded rather optimistic about the move: "We are delighted to begin this meaningful partnership with the Korea Mobile Game Association, which boasts the largest network of game developers in the country. It is no secret that many small and indie studios, despite having brilliant content, have been struggling to break into overseas markets due to the burden of building global payment infrastructures and the bite of high platform commissions."

He continued, "Through ForTem’s simple redeem code-based global sales channel and the transparent settlement system powered by blockchain, we intend to actively support domestic small and indie studios in generating safe and efficient additional revenue across the global stage, including emerging markets like Southeast Asia and South America."

Hwang Sung-ik, Chairman of the Korea Mobile Game Association, added his seal of approval: "We are pleased to sign this agreement with ForTem Labs, which possesses excellent global payment infrastructure. We hope this partnership will serve as a solid bridge for small and indie studios facing infrastructure challenges to successfully enter overseas markets. We are committed to working closely with ForTem Labs to strengthen the global competitiveness of the South Korean game industry."