South Korea’s Ministry of Culture, Sports and Tourism confirmed to GGRAsia that Yoon Doo-hyun has been affirmed as the new chief executive of Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos.
The firm’s board had chosen Mr Yoon, a former senior government official, last month. At that time, an Engllsh-language filing referred to him as being chosen as the firm’s “president”. His appointment had to be ratified by the national authorities.
The ministry said on Monday – in response to GGRAsia’s telephone enquiry – that the country’s Office of the President had appointed Mr Yoon as CEO with effect from that day.
A Korean-language filing to the Korea Exchange that day, affirmed the decision.
The 63-year-old has most recently been a member of South Korea’s National Assembly for its 21st term, a four-year period that ran from May 2020 to May 2024.
Mr Yoon was also the former senior secretary for public relations at South Korea’s Office of the President within the 2014 to 2015 period,
Grand Korea Leisure runs three foreigner-only Seven Luck-branded casinos: two in the capital Seoul, including in Gangnam, and one in the southeastern port city of Busan.
The company is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the country’s Ministry of Culture, Sports and Tourism.
Third-quarter net income at Grand Korea Leisure declined by 49.5 percent year-on-year to approximately KRW6.04 billion (US$4.3 million).
