GKL shareholders vote for Yoon Doo-hyun as new president

Nov 28, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, has named former senior government official Yoon Doo-hyun as its choice as the company’s next president. The appointment term would be for three years.

The choice was one of the outcomes of the casino operator’s extraordinary shareholder meeting held on Monday, and was mentioned in a filing lodged with the Korea Exchange on Wednesday. Mr Yoon’s appointment still has to be approved at national-government level.

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, the Wednesday filing noted.

Mr Yoon was eventually chosen as one of the three candidates for Grand Korea Leisure’s president position. The other two candidates were, respectively, Park Kang Sup and Lee Jae Kyong, both former senior tourism officials, according to Grand Korea Leisure’s previous corporate filings.

Mr Lee had also been the vice president of Grand Korea Leisure, serving between 2013 and 2016.

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.

As Grand Korea Leisure is a public corporation, its president appointment requires a final approval from the country’s president upon recommendation of the minister of culture, sports and tourism, the Wednesday filing noted.

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