South korea has weird way to monitor and control the crypto. It seems they are trying to lock in or destroy the means through which the coins can be mined or the crypto ecosystem could be established in the south korea. They have realized the fact that games are the primary means of creating the crypto ecosystem in the market. 

So their obvious attack is on the play to earn games. This may also lead to potential of South Korean govts decision affecting the Bitcoin and other coins in the market to go down. 

According to Recent news, the Ministry of Culture, sports & Tourism has decided to ban the P2E games. They are asking various app and game hosting servers to not allow such games to be released on their platform. If they do then potential those platforms will be blocked in the south korean market.

What this means for Play to Earn games?

Nothing much. You may see that market will shift to another neutral country. Because unlike crypto coins, the games are not a big problem they don't attack economy or they are not threat. They are just means to earn by spending the time. Which is not hard to debate. You can always replace crypto to fiat in south Korea and argument can end. So it's not much of a damage to the market. 

Just continue doing what you do if you are not in South Korea. If you are in SK then simply use the VPN and ask the game developers to make the changes required to play the game there. That's all. It's not a money laundering or so to use Play to Earn games so keep going on with what you do in blockchain games.