Kangwon Land said Choi Cheol Kyoo resigned and Nam Hun Gyu would become acting chief executive from 5 March. Nam, the company’s vice president of management support and an executive board director, will serve in the role until a new CEO takes office.
The acting appointment changes leadership at a South Korean casino operator while a permanent chief executive is pending.
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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.
A revised management strategy won board approval on Tuesday, and under it Kangwon Land is pursuing annual resort-wide revenue of KRW3 trillion (US$2.26 billion). The South Korean resort is the sole casino in the country open to local gamblers. It is also setting targets covering customer satisfaction, sustainability and what it gives back to the local economy.
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.
Kangwon Land is increasing cooperation with government agencies, police and the army to combat illegal gambling. The company said its activities include prevention campaigns, internet monitoring and coordinated operations in response to increasingly sophisticated illegal gambling websites.
Reportedly, NH Investment & Securities expects rising tourism to support South Korea’s foreigner-only casinos, particularly mass-market play. The brokerage forecasts 23 million inbound visitors in 2026 but cautions that VIP gaming may benefit less. It recommends watching September and October figures to assess demand.
NH Investment & Securities expects record inbound tourism to support South Korea's foreigner-only casinos, with the benefit likely to be stronger for mass-market gaming than for VIP play, the brokerage said. Analyst Lee Hwa-jeong said South Korea received 12.8 million inbound visitors in the first seven months of 2026, an all-time high for the period, and NH Investment expects the full-year tally to reach 23 million.
FATF warned that illegal and unlicensed offshore gambling creates significant money-laundering risks. It said illicit markets in some jurisdictions are as large as or larger than regulated markets, and identified rapid cross-border transfers, complex ownership and weakly supervised partnerships as risks.