R&F Korea (RFKR) has told GGRAsia it has “not decided” its next step – including whether to appeal – after a decision of South Korea’s Ministry of Culture, Sports and Tourism, that “invalidated” its right to have an integrated resort (IR) project with foreigner-only casino at Incheon.
On Tuesday the ministry had confirmed to GGRAsia that “RFKR’s casino business permission has been officially invalidated,” but added the company would have 90 days in which to appeal against the decision.
The news came after RFKR failed to secure from the authorities a further 12-month extension – requested in December – for its first-phase opening deadline.
The most recent deadline extension had been issued on March 17, 2023, marking the fourth modification of the site’s launch timeline since 2018.
Approximately 25 percent of the RFKR scheme (pictured in a file photo) has been developed, though building work has been suspended since 2020, according to the Incheon Free Economic Zone Authority (IFEZA). That public body oversees the location on Yeongjong Island, near the country’s primary air hub, Incheon International Airport.
RFKR is linked to financially-troubled Hong Kong-listed Chinese developer Guangzhou R&F Properties Co Ltd.
