Jeju Island, South Korea’s only island province and a major tourist destination, announced on February 21 that it had approved the move of the foreigners-only Landing Casino from its location at the Hyatt Regency Jeju Hotel to Jeju Shinhwa World, the island’s first integrated resort. (Image: Yonhap)
JEJU, Feb. 22 (Korea Bizwire) – Jeju Island, South Korea’s only island province and a major tourist destination, announced on February 21 that it had approved the move of the foreigners-only Landing Casino from its location at the Hyatt Regency Jeju Hotel to Jeju Shinhwa World, the island’s first integrated resort.
The move will vastly expand the casino’s scale, going from 803 square meters to 5,581 square meters. The area of the new premises would put the relocated Landing Casino behind only the 8,726 square meter casino at Incheon’s Paradise City resort complex as one of the largest in South Korea.
Jeju’s government approved the move under a number of conditions, including a staff quota of 80 percent to be filled by locals and active involvement in environmental conservation efforts.
Hong Kong-based Landing International Development, the parent company of Landing Casino and the developer of the $2.6 billion Jeju Shinhwa World, will look to increase its staff to 6,500 by 2019 from the 2,696 currently employed at the resort and casino. By 2027, 655.7 billion won in funding for the development of Jeju’s tourism and about 46.2 billion won in local tax is expected to be paid out.
Hong Kong-based Landing International Development, the parent company of Landing Casino and the developer of the $2.6 billion Jeju Shinhwa World, will look to increase its staff to 6,500 by 2019 from the 2,696 currently employed at the resort and casino. (Image: Yonhap)
The island authorities have promised to beef up oversight of the Landing Casino due to its increased size.
Meanwhile, a number of civil groups have raised their voices in protest, insisting that Landing Casino’s move could encourage other casinos to follow suit and expand.
To prevent similar deals like Landing Casino, the general consensus is that current laws governing these situations must be modified.
S.B.W. (sbw266@koreabizwire.com)
