South Korea proposes raising foreign-casino levy ceiling to 15%

South Korea’s Ministry of Culture, Sports and Tourism has proposed increasing the maximum tourism development fund levy for foreigner-only casinos from 10% to 15% of revenue. At a Seoul roundtable, INSPIRE executive Kang Dae-suk warned the change could put refinancing of more than KRW1 trillion next year at risk; Paradise Co executive Lee Jong-myoung warned it could reduce investment. The ministry has also proposed five-year licence renewals and prior approval for significant ownership transfers or acquisitions.