Kangwon Land awards Shinyoung-led consortium KRW74.1bn casino construction contract
Tenders & awards1 min read
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.
Shinyoung C&D will lead the consortium with a 65% share; it is the construction arm of developer Shinyoung Group. Seorim General Construction will take 20%, while Daehwa Construction will take 15%, according to South Korean media reports. The consortium came first in a tender held by South Korea’s Public Procurement Service. The reported construction period is approximately 23 months. The reports gave no contract start date.
The operator’s third-quarter earnings materials included construction of the second casino among projects in its 2026 operating investment budget. Spending in that category reached KRW97.2bn through 30 September, against a KRW126.4bn budget for full-year 2026. The materials did not give a breakdown by project.