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Northernmost Island Opens Lotto Ticket Seller

Northernmost Island Opens Lotto Ticket Seller

SEOUL, Feb. 5 (Korea Bizwire) – Baekryeong Island, South Korea’s northernmost island, has opened a lotto ticket shop for the first time. Nanum Lotto, the nation’s exclusive lottery operator, announced that the first lotto seller began operating on February 3. Due to its geological characteristics and security issues, the island has been alienated from services [...]

Unclaimed Lotto Payouts Reach 200 Billion Won

Unclaimed Lotto Payouts Reach 200 Billion Won

SEOUL, Sept. 19 (Korea Bizwire) – For the past five years, the amount of money unclaimed by lotto winners surpassed 200 billion won (US$192 million), according to the Korea Lottery Committee. According to the report from the lottery committee submitted to the ruling Saenuri Party (New Frontier Party) lawmaker Park Myung-jae, the unrecovered lotto prize money [...]

Gambling Industry Remains Standstill at 18.2 Tril. Won Sales in 2013

Gambling Industry Remains Standstill at 18.2 Tril. Won Sales in 2013

SEOUL, June 12 (Korea Bizwire) – A study said Korea’s legally sanctioned gambling industry (not including foreigners-only casinos and bullfighting) has stopped growing since 2006. According to a white paper published on June 9 by the Korea Leisure Industry Institute, the 2013 sales revenue of the gambling industry was 18,284.7 billion won, the almost same [...]

[Kobiz Stats] Have You Ever Bought a Lottery Ticket?

[Kobiz Stats] Have You Ever Bought a Lottery Ticket?

[Related Article] Government May Come up with New Lottery (Korea Bizwire, April 18) The government is giving positive consideration on developing and releasing new lottery schemes including time-limited lotteries and a Korean version of “Powerball.” On April 17, the Lottery Commission at the Ministry of Strategy and Finance said the government has planned… (see the [...]

Government May Come up with New Lottery

Government May Come up with New Lottery

SEOUL, Korea, April 18, 2014 (Korea Bizwire) – The government is giving positive consideration on developing and releasing new lottery schemes including time-limited lotteries and a Korean version of “Powerball.” On April 17, the Lottery Commission at the Ministry of Strategy and Finance said the government has planned to diversify the lottery products by coming [...]