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CNN Tech Correspondent
HONG KONG, China (CNN) -- The 2002 Comics Festival is underway in Hong Kong, where superheroes are packing a punch in video games and virtual worlds.
Hordes of children have been scrambling to the 2002 Comics Festival hall -- some with time on their hands, many with cold, hard cash.
At the Hong Kong Comics Festival, you won't find any back issues of Spiderman. All the characters here have leapt off the page and onto toys, game boxes and video screens.
"The comic industry and the game industry are somewhat similar. It's both entertainment, gives a lot of hope and dreams to younger generations," says Jung Hwan Kim, NCsoft's Business Development Manager.
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"Some games, they originated from some comics. The organizer thinks the two are not different so they invited us to participated in this comic festival," comments Simon Yun, NC Gamania Chief Operating Officer.
More than 40,000 comic fans visited the exhibition on opening day to buy action figures, play games, and have a brush with their favorite virtual heroes.
Money-making machines
It may look like child's play, but to game companies each boy and girl is a money-making machine, spending up to $1000 a year on game boxes, CDs and collectibles. Adding to a global industry worth $20 billion.
"I think gaming is entertainment so everybody can enjoy and play games," says Yun.
Entertainment is what's driving the insatiable demand for technology in Asia -- be it video games in Japan, PCs in China, or broadband in South Korea.
The Korean government has established a special office to help turn online gaming into a booming business. They project games will surpass the chip sector after 2005.
No hype story
The forecast has shades of dotcom mania, but executives insist this is no Internet hype story.
"We're actually showing revenue, profit, a very strong track record. It's not just a bubble," says Jung.
Organizers say the fair could attract a record total of 350,000 visitors in five days.
