Kangwon Land
Overview
Kangwon Land (강원랜드) is a public corporation that operates the only casino in Korea accessible to domestic citizens and a comprehensive resort, located around Sabuk-eup, Jeongseon County, Gangwon Special Self-Governing Province. Its establishment was pursued in 1995 under the Special Act on Support for the Development of Abandoned Mine Areas, and it began casino operations on October 11, 2000. The core purpose of its establishment is to revive the economies of abandoned mine areas, which had stagnated due to the rationalization of the coal industry, and a significant portion of casino profits is invested in regional development and fostering alternative industries.
Main Content
Background of Establishment
In the late 1980s, due to the government's restructuring of the coal industry, coal-mining regions such as Jeongseon, Taebaek, Yeongwol, and Samcheok suffered large-scale unemployment and population outflow. To address this, the government enacted a special law permitting a casino exclusively for domestic citizens only in abandoned mine areas, and Kangwon Land Co., Ltd. was launched in 1995. After receiving a casino business license in 1998, it opened in October 2000 following about two years of facility construction. It subsequently expanded into a comprehensive resort by adding a ski resort, golf course, hotel, water park, and other facilities in stages.
Business and Facilities
Its core business is casino operations, which account for most of total sales. In addition to the casino floor, under the High1 Resort brand it operates a ski resort (High1 Ski Resort), an 18-hole golf course, a luxury hotel, condominiums, a water park, and tourism infrastructure in the Sabuk and Gohan areas. It also develops and operates tourism and leisure facilities such as High1 Choo Choo Park (Jeongseon) as one of the alternative industries for abandoned mine areas, attracting tourists to the region. In terms of employment, a system is in place to give hiring priority to residents of nearby areas such as Jeongseon and Taebaek.
Governance and Public Character
It is a public-private joint corporation in which Gangwon Special Self-Governing Province and four cities/counties in abandoned mine areas (Jeongseon County, Taebaek City, Yeongwol County, and Samcheok City) participate as major shareholders, and it is designated as a government public institution (under the Ministry of Trade, Industry and Energy), bearing obligations to ensure management transparency and public interest. The law stipulates that a certain percentage of casino net profits be contributed to the Abandoned Mine Area Development Fund, creating a structure in which profits are reinvested into local infrastructure, welfare, and tourism projects.
Regulation and Controversy
Because Kangwon Land is the only casino that domestic citizens may enter, it is subject to strict regulations such as betting limits, restrictions on the number of visits, and advertising restrictions. Due to concerns about gambling addiction, responsible gambling programs and an entry restriction system are operated. Meanwhile, because of its high dependence on casino revenue, business diversification has been continuously called for, and issues such as conflicts over converting non-regular workers to regular status, hiring irregularities and employee corruption cases, and controversy over the actual trickle-down effects on the local economy have been repeatedly raised in parliamentary audits and the media.
Finances and Performance
Since the casino opened, revenue has steadily increased, growing into a large public enterprise with annual revenue well exceeding 1 trillion won, and operating profit has remained in the hundreds of billions of won. However, during the COVID-19 period, performance fell sharply due to temporary closure of the casino floor and a steep drop in visitors, before recovering rapidly afterward.
Latest Trends
As of 2024–2025, Kangwon Land is continuing its recovery, recording record-breaking performance that surpasses pre-COVID-19 levels. An increase in foreign visitors and a recovery in group tourism demand supported revenue growth, and discussions continue at the government level about partially easing regulations on domestic casinos (betting limits, entry restrictions, etc.). At the same time, as competition among foreigner-only integrated resorts intensifies, including the opening of Inspire Resort in 2023, Kangwon Land is pursuing strategies both to attract more foreign customers and to strengthen its non-casino sectors. Facility renovations at High1 Resort, development of K-tourism-linked products, revitalization of tourism in Jeongseon and Taebaek, and improvements in accessibility (expressways and railways) are being pursued, while ESG management, strengthened gambling addiction prevention and responsible gambling programs, and measures to protect youth and vulnerable groups are also being expanded. In addition, fostering alternative industries in abandoned mine areas, regional win-win cooperation, and expanding the hiring of local talent are emerging as major management tasks.
Related Topics
- [[하이원리조트]]
- [[폐광지역 개발]]
- [[카지노 산업]]
- [[정선군]]
- [[강원특별자치도]]
- [[공기업]]