Grand Korea Leisure appoints new president

Dec 02, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Grand Korea Leisure Co Ltd (GKL), a state-controlled South Korean casino operator, on Monday appointed Gi-u Lee as its new president, shows a filing to the Korea Exchange.

Mr Lee replaces former president Byung-soo Lim, who left the company in October.

Mr Lee is a former vice president of the Korean Casino Association. He also held diplomatic posts in several South Korea embassies, being stations in that country’s embassies in China, the United States and Brazil.

Mr Lee’s term at the helm of Grand Korea Leisure extends until November 2018, according to the company’s website.

Grand Korea Leisure, that was identified in South Korean media reports as interested in one of the country’s two new integrated resort licences, last month issued a statement saying it would not pursue such permit.

The firm – which currently operates three foreigners-only casinos in South Korea under the Seven Luck brand – saw its net income fall 41.5 percent year-on-year in the third quarter.

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