Content Writer: Janice Chew • Tuesday, 26/01/2026 - 17:11:29 - PM
South Korea’s Minister of Trade, Industry and Resources, Kim Jung-kwan, has issued a forceful directive to publicly held institutions under his ministry — including the state-linked casino operator Kangwon Land — that they must demonstrate real value with tangible results or risk being dissolved. At a January 12 briefing in Seoul, the minister stressed that public entities can no longer function as mere policy-implementing bodies and must instead drive innovation, accountability, and measurable impact for the public.
The minister warned executives and employees that execution must go beyond planning and reporting; outcomes must be visible in real economic and social terms. He specifically called for an end to “copied tasks” and urged institutions to rethink traditional approaches to work so they can tangibly benefit local economies and earn public trust. This message was framed as a serious commitment, not a one-off announcement, requiring entities to deliver outcomes citizens can feel.
Kangwon Land — South Korea’s only casino permitted to accept local gamblers as well as tourists — was among those in attendance. The company has been active in expanding its operations, having secured approval in September 2025 to build a second casino facility with expanded gaming space and additional tables and machines, scheduled to open in 2027.
Recent regulatory changes that took effect in 2025 have also benefited Kangwon Land. These included raising the maximum betting limit to KRW3 million (about $2,295), expanding mass-gaming areas, and allowing entry to resident permit holders. Kangwon Land reported nearing full compliance with its 2024 governance targets, with enhanced procedures for shareholder engagement and dividend disclosures underway through 2026.
This governmental push for performance accountability comes amid wider debate over South Korea’s gaming policy. Separate recent remarks by President Lee Jae-myung questioned the appropriateness of issuing casino licences to private operators, suggesting that such rights might be more fittingly held by public sector entities to ensure broader public benefit.