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Watchdog Urges Gov’t to Draw up Plans for Gambling Addicts

Watchdog Urges Gov’t to Draw up Plans for Gambling Addicts

SEOUL, July 26 (Korea Bizwire) – South Korea’s state auditor said Tuesday the government should roll out tighter plans to prevent gambling addiction, adding that a large number of addicts are being observed at Kangwon Land Casino, the nation’s only casino open to locals, owned by High1 Resort.  According to the study conducted by the [...]

Protesters in Taebaek Cry for the Right to Survive

Protesters in Taebaek Cry for the Right to Survive

SEOUL, July 15 (Korea Bizwire) – “This is a city that was built on our sacrifices, and we won’t let poverty become the legacy for our children,” cried 53-year-old Bae Jeong-deok, reading a letter to the South Korean president during a protest held in Taebaek on Thursday.  Taebaek is a city in Gangwon Province on [...]

Kangwon Land: Madness behind the Beauty

Kangwon Land: Madness behind the Beauty

JEONGSEON, May 10 (Korea Bizwire) – While coal mining boomed in Korea in the 1970s, with the decline in international oil prices and rapid changes in energy consumption patterns, demand decreased drastically. In the 1980s, the coal mining industry was quickly fading away.  The Korean government started restructuring the coal industry in 1989. As a [...]

S. Korea Gives Casino License to Mohegan-KCC Consortium

S. Korea Gives Casino License to Mohegan-KCC Consortium

SEOUL, Feb. 26 (Korea Bizwire) – South Korea selected a consortium led by U.S. casino operator Mohegan Sun as the winner of an integrated resort project, the tourism ministry said Friday, allowing one more casino on the western gateway island of Yeongjong. Mohegan’s bid with South Korean chemicals maker KCC Corp. envisions US$1.6 billion investment [...]

First Foreigners Only Casino Hotel in Korea Withdraws Decision to Close

First Foreigners Only Casino Hotel in Korea Withdraws Decision to Close

INCHEON, Dec.29 (Korea Bizwire) – The ‘Paradise Hotel Incheon’ which hosted the first foreigners only casino in the 1960s, decided to withdraw their announcement that they had made to close after 50 years of business. According to Paradise hotel officials, the hotel made a final decision to change their plan of closing into a plan [...]

S. Korea’s Casino Drive Loses Steam Over China Risk, Tight Rules

S. Korea’s Casino Drive Loses Steam Over China Risk, Tight Rules

SEOUL, Dec. 4 (Korea Bizwire) -South Korea’s plan to open new casino resorts grabbed the attention of many investors eyeing wealthy Chinese clients at first, but the rush has cooled down significantly due to tough requirements and Beijing’s ongoing corruption crackdown, industry officials said Friday. Seoul received applications for two integrated resorts with foreigner-only casinos [...]

Lotte to Develop Large Casino Resort Complex in Busan

Lotte to Develop Large Casino Resort Complex in Busan

SEOUL, Jul. 2 (Korea Bizwire) — Lotte Group will develop a large resort complex at the North Port of Busan, said a high-ranking representative of the group on July 1. The company has filed a proposal for the development project with the Ministry of Culture, Sports and Tourism, which has received 34 proposals, including Lotte’s, [...]

Jeju Governor Bucks the Trend by Saying “No More Casinos” in His Province

Jeju Governor Bucks the Trend by Saying “No More Casinos” in His Province

SEOUL, Aug. 18 (Korea Bizwire) — Won Hee-ryong, governor of Jeju Special Self-Governing Province, reaffirmed his stance of not allowing the new casino construction plan, embarrassing the ruling party and the administration trying their best to revive the flagging economy by relaxing decades-old regulations and inviting foreign investment. Governor Won, former congressman with the New Frontier [...]