Hello, I am also an American living in Korean. I have been here for about 3 years. I live in Seoul.
The situation is a bit strange here. Korea has traditionally been put off to the side for console manufacturers.
360 launched late last year.
PS3 is scheduled to come out late this month I believe.
Nintendo DS just came out a few months ago, and nintendo has been publishing about 2 games per month. Thankfully, they are all being translated into Korean. In just a few months it has sold about 200 thousand units.
Nintendo Wii is slated to come out later this year, but there is no date as of now. Nintendo is really stepping up and I think they will do a good job. They used to sell their gamecube and gameboy products through a 3rd party company here, but recently established Nintendo of Korea. They also set the goal of 100% translation for their games.
PSP has been pretty popular here, but I never see anyone playing games on it. They always are just watching movies. It sold about 350 thousand units.
I think one problem that console games have not caught on here is that a lot of these companies never translate them. Would you want to play games that you can't understand? Microsoft has been doing a pretty poor job of this and Sony has been slacking off as of recently. However, they may put more effort into translating PS3 games as most of them are said to be translated.
grbox if you want some info on games in korea check out www.ruliweb.com. It is all in Korean, but you should be studying it if you are living here. Also, if you want to get a Wii, next time you go to Seoul check out Yongsan electronics market. I bought my Japanese Wii there when it first came out. Also, if you ask around you should be able to get it modded so you can play English games.
