Kangwon Land Inc, the only casino operator in South Korea authorised to let locals gamble, has announced that Moon Tae-Gon has been appointed as interim chairman of the company. Mr Moon is already the firm’s chief executive and director.
The appointment was confirmed to GGRAsia this week by a representative of Kangwon Land. The person did not specify reasons for the appointment. Kangwon Land also did not address the rationale in its latest filing.
“As a government-run company, Kangwon Land’s CEO is appointed by the government [based on] many reasons,” said the firm’s spokesperson in its email reply to GGRAsia.
Mr Moon was appointed CEO for a three-year term starting in December 2017. He previously worked for Samsung Life Insurance Co Ltd, South Korea’s Board of Audit and Inspection, and the country’s Ministry of Government Administration and Ministry of National Defence.
The Kangwon Land casino resort (pictured) is based in a remote upland area 150 kilometres (93 miles) from the capital Seoul. The property’s promoter posted a nearly 38-percent increase in net profit for the third quarter 2019, it said in a November filing.
Jan 29, 2022Provisional figures indicate 2021 casino revenue in South Korea was KRW1.18 trillion (US$ 975.39 million), a 13.4 percent rise year-on-year from 2020’s KRW1.04 trillion. The 2021 estimate was given...
Aggregate number of licensed junkets in Macau as of January 2022