To date the only casino in South Korea that is open to Korean residents is at Kangwon Land in Jeongseongun, Gangwon-do. It is the largest casino in South Korea, with 960 slot machines and 132 table games. Kangwon Land Inc was established in June 1998 and in September the following year construction began on a small casino hotel that opened for business in October 2000. It was built in an area designated by the Korean Government as part of its plan for the Development of Closed Coal Mine Areas. A special law had previously been enacted in 1995, allowing for Koreans to gamble at casinos in such areas.

Since 2000 Kangwon Land has grown and diversified to become the large entertainment complex it is today. Apart from the hotel and casino there is a theme park, international golf course and a ski resort. However, CEO and President Ki-Song Cho described 2006 as a year of crisis and challenges, when the company had become complacent with past achievements. A drop in sales was attributed in part to the proliferation of illegal gaming rooms and the resulting negative public perception of gambling.

Following the Government crackdown on gambling arcades, which had reached around 13,000 by December 2005, Kangwon Land faces less competition for Korean gamblers, but the foreigners-only casinos are multiplying. South Korea, like several other Asian nations, is eager to attract foreign tourists, particularly Chinese high rollers. The Japanese, in the past the mainstay of the tourist industry, are now less likely to visit South Korea.

The growing importance of the casino industry is evidenced by the first International Conference on Casino Development and Strategy, to be held on 10-11 July at the Millenium Seoul Hilton. It has been organised by Kangwon Land, the Korea Casino Association and Grand Korea Leisure, a subsidiary of the state Korea Tourism Organisation. According to Park Jung-sam, chairman of Grand Korea Leisure, ``Casinos are a major source of tourist revenue, drawing in foreign visitors, so we need to study the strategies of the casino business, its regulations and future direction for its development.''

Professors and casino experts from around the world will take part in the conference, including Professor William Eadington from the University of Nevada, who will give a speech entitled ``Challenges for the Regulation of Casino Gaming in Asia: Lesson from the West.'' Professor Lee Choong-ki at Kyung Hee University will give a presentation on ``Sustainability and Competitiveness in the Korean Casino Industry.''

There are presently 17 casinos in South Korea but last year a revision of the tourism law makes foreigners-only casinos permissible anywhere that the ability to cater for foreign tourists can be demonstrated. The Government has declared it will closely monitor the situation but casinos, as in Singapore and Macau, are perceived as the way to increase tourist numbers. In Korea it is also hoped that the amendment to the law will help promote equality for the regions. (E-07.05.07)

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