Korea Casino Association Says Casinos Support National Wealth
South Korea’s casino industry should be seen as a strong tourism export sector, not only as a gambling business, according to Korea Casino Association secretary-general Shin Jong Ho.
Speaking to GGRAsia, Shin said:
South Korea’s licensed casinos bring major value to the wider economy. The Korea Casino Association represents 18 licensed casino businesses in the country, including 17 foreigner-only venues.
Shin added that the sector supports tourism, creates jobs and contributes large sums to national funds. He also argued that casinos in South Korea operate under very strict rules, including anti-money laundering and counter-terrorist financing controls. Shin said:
The reality is different. South Korea’s casino industry pays hundreds of billions of won each year into the country’s Tourism Promotion and Development Fund and the Abandoned Mine Fund.
However, he warned that South Korea still faces major limits compared with other Asian markets. Most casinos in the country can only serve foreign customers, which makes it harder to attract large international investment and grow at the same scale as rivals.
Shin also pointed to Japan’s MGM Osaka integrated resort, expected to open in 2030, as a serious threat. He said the project could take away key Japanese, Chinese and Western customers from South Korean casinos.
Another risk is staff loss. Shin said Japan could try to hire experienced South Korean casino workers as it builds its new market.
To stay competitive, Shin believes South Korea needs easier rules on operations and marketing, plus more support for new technology. He said casinos are already using tools such as RFID chips, AI robots and AI interpretation services to improve transparency and customer service.
