(EDITORIAL from the Korea Times on Jan. 12)

Cyber Money Trade
It's Time to Minimize Ill Effects of Court Ruling

What would happen if ``cyber money," or fictional money used in online games,
became real cash? It may not be easy to answer this intriguing question even in
the era of rapid development of information and communication technology. Many
people question: Is it legal or illegal to exchange online game money for hard
currency?
The Supreme Court made the question a little easier, ruling that trading cyber
money is legal as it is the legitimate result of the users' toil and skills. It
stated that trading game money for cash should be punished only when it is
obtained by online gambling such as poker and other card games. The top court
acquitted two gamers of charges of profiteering nearly 20 million won by selling
234 billion won worth of cyber money earned in the online game Lineage to other
gamers.
Lineage is a multiplayer medieval fantasy online role-playing game released in
1998 by NCsoft, a leading South Korean computer game developer. It is available
in English, Chinese and Japanese language versions. Lineage's cyber money, called
``Aden," is surreptitiously traded at a rate of one million Aden for 8,000 won.
The total amount of Aden and other game money exchanged online in Korea was
estimated at 1.5 trillion won last year.
With the landmark ruling, law enforcement agencies cannot crack down on those who
convert cyber money into real currency as long as the money is not earned by
illegal gambling either in reality or cyberspace. But, the court decision will
not likely end the controversy over the legitimacy of the conversion. Rather it
has reignited a debate over the pros and cons of the ruling.
It is not surprising that parents' associations and anti-gambling activists
criticized the decision, saying that the court set a bad precedent for the
younger generation. They argue that the court's actions will have a negative
educational effect on students because they may more easily succumb to betting
money on different types of online games. The opponents express concerns that
computer games might turn into gambling-oriented ones.
Even, NCsoft, Nexon and other local online game developers are against allowing
gamers to trade their game money for cash. They point out that they might get
into a dispute with users if gamers' fictional money is erased due to technical
glitches or system errors. Such a dispute could bring financial losses to online
game operators. And professional traders of cyber money are likely to thrive,
thereby distorting the intrinsic purpose of game money. There are also worries
that cyber money might be abused as a tool for money-laundering and fraud.
But, the game money trade is not without benefits. Optimists welcomed the ruling,
expecting that it will give a boost to the local online game market. They say
that the court has just lifted one of the stumbling blocks to the industry,
adding that a growing number of users will spend more time on cyber games in
pursuit of entertainment as well as money. The problem is how to minimize the ill
effects of the court decision, while maximizing the merits of cashing out game
money.
(END)

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