Kangwon Land appointed Nam Han-gyu as interim chief executive from 5 March 2026 after Choi Cheol-gyu resigned, the company said in a filing. Nam, the vice-president of its Management Support Department since November 2024, will serve until the company finds a permanent replacement.
The interim appointment establishes who will lead Kangwon Land while it searches for a permanent chief executive.
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Kangwon Land awarded a consortium led by Shinyoung C&D a contract worth approximately KRW74.1 billion to build a second casino and renovate existing facilities at its Jeongseon resort in South Korea. Shinyoung holds a 65% share, with Seorim General Construction taking 20% and Daehwa Construction 15%; the construction period is about 23 months, with no start date specified.
A contract worth approximately KRW74.1 billion has been awarded for construction of a second casino at Kangwon Land in Jeongseon, Gangwon province, according to builder Shinyoung C&D. The agreement also includes refurbishing existing lodging and leisure facilities at the resort, which Kangwon Land Inc operates.
A community group representing four areas in Gangwon Province has urged South Korea’s government to remove or raise Kangwon Land’s revenue cap and ease visitation restrictions. The group argued that the limits weaken the casino’s ability to compete ahead of MGM Osaka’s scheduled 2030 opening; South Korean residents may visit Kangwon Land 15 times a month, and those exceeding 60 days a year must complete responsible-gambling education.
Revenue and visitation restrictions at Kangwon Land should be removed to help counter the threat of MGM Osaka's 2030 launch, according to the Joint Committee for the Revitalization of Gohan, Sabuk, Nam-myeon and Sindong. In a statement reported by Yonhap News Agency, the committee urged the government to scrap or substantially raise the casino's total revenue cap.
Kangwon Land recorded a KRW3.63-billion net loss in the third quarter of 2026, compared with a KRW113.07-billion profit a year earlier. The company attributed the loss mainly to fair-value losses on financial assets as bond yields rose; quarterly sales fell 3.8% to KRW369.45 billion and casino visitor numbers fell 3.2% to 640,039.
Kangwon Land Inc swung to a KRW3.63bn net loss in the third quarter, from a KRW113.07bn profit in the same period a year earlier. The company said the result mainly reflected lower non-operating income, as a sharp rise in bond yields caused fair-value losses on financial assets.
Kangwon Land set a target of KRW3 trillion in annual resort-wide revenue under a revised management strategy approved by its board on Tuesday, according to the report. Its 2027–2031 plan also sets objectives for customer satisfaction, sustainability and local economic contribution, while extending the company’s longer-term focus to 2035.
South Korean lawmaker Jin Sun-mee urged a review of Kangwon Land’s procedures for readmitting barred customers. The report said documentation showed no requirement for addiction treatment before customers return. Banned individuals increased by 86% over three years to 5,612 in 2025, compared with 19% growth in casino visits, according to ministry data cited in the report.
A lawmaker from South Korea's ruling Democratic Party, Jin Sun-mee, is seeking a review of the way Kangwon Land removes casino entry bans. Her call followed data she obtained from the Ministry of Culture, Sports, and Tourism, which showed that people who had been barred can come back without first receiving treatment for gambling addiction.