Kangwon Land

Kangwon Land is South Korea's largest and most unique casino operator, founded in 2000 and headquartered in Gangwon Province (formerly Kangwon Province). The company operates Kangwon Land Casino — the only casino in South Korea where South Korean citizens are legally permitted to gamble. All other domestic casinos in South Korea are restricted to foreign passport holders only. Kangwon Land is listed on the Korea Exchange (KRX: 035250) and is a state-affiliated entity, with the Gangwon Province government as its largest shareholder.

Kangwon Land Casino is located in Sabuk, Jeongseon County, Gangwon Province — a former mining region that was designated as a special tourism zone to support economic development after the decline of the local mining industry. The property is South Korea's largest casino, featuring 200+ gaming tables, 5,000+ electronic gaming machines (slot machines and electronic table games), 600+ hotel rooms (Kangwon Land Hotel, High1 Hotel, High1 Condominium), three 18-hole golf courses (High1 Country Club), ski resorts (High1 Resort), and extensive entertainment facilities. Kangwon Land is a major domestic tourism destination and one of South Korea's largest integrated resorts.

Kangwon Land is licensed and regulated by the Korean Ministry of Culture, Sports and Tourism (MCST) under the Special Act on the Assistance to the Development of Abandoned Mine Areas. The company was established as part of a government initiative to revitalize the economically depressed former mining region of Gangwon Province. Kangwon Land is the dominant player in the South Korean casino industry by revenue, owing to its unique position as the only casino accessible to South Korean citizens.

Kangwon Land Casino

Kangwon Land Casino is South Korea's largest casino and the only casino in the country where South Korean citizens are legally permitted to gamble. The property features 200+ gaming tables (baccarat, blackjack, roulette, poker, sic bo, tai sai), 5,000+ electronic gaming machines (slot machines, electronic table games, video poker), and multiple VIP gaming rooms. Kangwon Land Casino is the centerpiece of the Kangwon Land integrated resort and attracts millions of visitors annually, primarily South Korean domestic customers.

High1 Resort

High1 Resort is a major ski and mountain resort operated by Kangwon Land, located in the High1 area of Gangwon Province. The resort features three 18-hole golf courses (High1 Country Club — one of Korea's premier golf resorts), ski slopes (18 slopes, 3 gondolas, suitable for all levels), a water park (High1 Water World), and mountain hiking and outdoor activities. High1 Resort is a major four-season tourism destination and complements the Kangwon Land Casino as part of the integrated resort offering.

Hotels & Accommodation

Kangwon Land operates multiple hotels and accommodation facilities, including Kangwon Land Hotel (the main luxury hotel, 600+ rooms), High1 Hotel (a resort hotel), and High1 Condominium (family and group accommodation). The hotel operations provide luxury and family accommodation for visitors to Kangwon Land and High1 Resort, and complement the casino and resort operations. Total accommodation capacity exceeds 1,000 rooms across the various properties.

Golf Courses

Kangwon Land operates three 18-hole golf courses at High1 Country Club — one of South Korea's premier golf resorts. The courses are designed to international standards and host professional tournaments. The golf operations are a significant component of Kangwon Land's non-gaming revenue and complement the casino and ski resort as part of the integrated resort offering. High1 Country Club is a major domestic golf tourism destination.

Ski Resort

The High1 Ski Resort is one of South Korea's largest ski resorts, featuring 18 ski slopes, 3 gondolas, and facilities suitable for all skill levels. The ski resort operates during the winter season (typically December to March) and is a major winter tourism destination in South Korea. The ski operations complement the casino, golf, and hotel operations as part of Kangwon Land's four-season integrated resort offering.

Domestic Market Monopoly

Kangwon Land's unique position as the only casino in South Korea where South Korean citizens are permitted to gamble gives the company a domestic market monopoly. All other domestic casinos in South Korea are restricted to foreign passport holders only. This unique regulatory position makes Kangwon Land the dominant player in the South Korean casino industry by revenue, as it can serve the large South Korean domestic market, unlike its foreigner-only competitors (Paradise Co Ltd, Grand Korea Leisure).

2000 — Foundation

Kangwon Land was founded in 2000 as a state-affiliated entity, with the Gangwon Province government as its largest shareholder. The company was established under the Special Act on the Assistance to the Development of Abandoned Mine Areas, a government initiative to revitalize the economically depressed former mining region of Gangwon Province. The foundation was part of South Korea's efforts to support regions affected by the decline of the coal mining industry.

2000 — Kangwon Land Casino Opening

Kangwon Land Casino opened in 2000 in Sabuk, Jeongseon County, Gangwon Province. The casino was the first and only casino in South Korea where South Korean citizens were legally permitted to gamble, under the Special Act. The property quickly became a major domestic tourism destination and established Kangwon Land as the dominant player in the South Korean casino industry.

2001 — KRX Listing

Kangwon Land was listed on the Korea Exchange (KRX: 035250) in 2001, becoming a publicly traded company. The listing provided capital for expansion and established Kangwon Land as a major South Korean listed company. The Gangwon Province government remained the largest shareholder, preserving Kangwon Land's state-affiliated status.

2006-2010 — High1 Resort Development

Kangwon Land developed High1 Resort in 2006-2010, adding ski slopes, golf courses, a water park, and mountain resort facilities to the Kangwon Land integrated resort. The development transformed Kangwon Land from a standalone casino into a four-season integrated resort, and established High1 as a major domestic tourism destination.

2013-2017 — Expansion & Modernization

Kangwon Land undertook significant expansion and modernization in 2013-2017, including the addition of new hotel rooms, gaming facilities, and entertainment venues. The company also invested in upgrading its casino facilities and expanding its VIP gaming operations to serve high-rolling South Korean customers.

2018-2019 — Regulatory Scrutiny

Kangwon Land faced regulatory scrutiny in 2018-2019, including investigations into alleged illegal hiring practices and political influence. The scrutiny led to leadership changes and enhanced compliance measures. The company also faced pressure to reduce its dependence on gaming revenue and to further develop its non-gaming offerings as part of the government's tourism promotion objectives.

2020-2021 — COVID-19 Impact

The COVID-19 pandemic significantly impacted Kangwon Land, with the company facing temporary closures and capacity restrictions. However, as a domestic-focused casino (unlike foreigner-only competitors), Kangwon Land was able to resume operations relatively quickly as domestic travel restrictions were lifted. The pandemic highlighted the advantage of Kangwon Land's domestic market focus compared to foreigner-only competitors.

2022-2024 — Recovery & Non-Gaming Development

Kangwon Land benefited from the recovery of domestic tourism post-COVID-19 and continued to invest in its non-gaming offerings (golf, ski, hotel, entertainment) to diversify its revenue base. The company also undertook efforts to enhance its responsible gambling measures and corporate governance, following the regulatory scrutiny of 2018-2019.

Kangwon Land is committed to responsible gambling under the regulatory oversight of the Korean Ministry of Culture, Sports and Tourism (MCST), with comprehensive player protection measures and strict compliance with South Korea's casino regulations. As the only casino in South Korea where South Korean citizens are permitted to gamble, Kangwon Land has a special responsibility to promote responsible gambling among domestic customers.

Regulatory Compliance

Kangwon Land operates under a license from the Korean Ministry of Culture, Sports and Tourism (MCST) under the Special Act on the Assistance to the Development of Abandoned Mine Areas. The company is subject to additional government oversight as a state-affiliated entity, with the Gangwon Province government as its largest shareholder. Kangwon Land is the only casino in South Korea where South Korean citizens are legally permitted to gamble.

Player Protection Measures

• Age Verification: Strict 19+ age verification (South Korean legal gambling age) at entry to Kangwon Land Casino. Both South Korean citizens and foreign visitors are permitted entry, unlike other domestic casinos.
• ID Verification: All patrons must present a valid government-issued ID (South Korean national ID card, foreign passport, or foreign registration card) for entry. ID verification is used for both age verification and AML/KYC compliance.
• Self-Exclusion: Players can voluntarily exclude themselves from Kangwon Land Casino. South Korea also operates government-run self-exclusion programs, and Kangwon Land is required to enforce exclusions. Kangwon Land has implemented enhanced self-exclusion measures given its unique position serving domestic customers.
• Staff Training: All customer-facing staff complete responsible gambling training, including identification of problem gambling behavior and intervention procedures. Given the domestic customer base, staff training is particularly focused on identifying and assisting South Korean customers who may be experiencing gambling harm.
• Information Resources: Responsible gambling information is displayed prominently throughout Kangwon Land, with contact details for problem gambling support services (Korea Center for Gambling Addiction, Gambling Problem Counseling Center).

Anti-Money Laundering (AML) Compliance

Kangwon Land implements AML and KYC procedures in compliance with South Korean regulations and international standards. The company conducts customer due diligence, transaction monitoring, and suspicious activity reporting. South Korea's AML regulations are enforced by the Korea Financial Intelligence Unit (KoFIU), and Kangwon Land is required to comply with all AML/KYC obligations. Given the large volume of domestic customers, Kangwon Land has implemented enhanced AML/KYC systems.

Special Responsibility as Domestic Casino

As the only casino in South Korea where South Korean citizens are permitted to gamble, Kangwon Land has a special responsibility to promote responsible gambling among domestic customers. The company has implemented enhanced responsible gambling measures, including stricter self-exclusion enforcement, more prominent responsible gambling information, and specialized staff training for identifying and assisting domestic customers who may be experiencing gambling harm. Kangwon Land also works with the Korea Center for Gambling Addiction and other government agencies to address problem gambling among South Korean citizens.