RFKR submits year extension bid on S.Korea casino build plan

Feb 01, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck  

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R&F Korea (RFKR), promoter of an under-construction leisure complex in South Korea due to have a foreigner-only casino, has asked the national authorities there for a fresh postponement of its launch date.

The information was confirmed to GGRAsia by respectively RFKR, a firm linked to Hong Kong-listed Guangzhou R&F Properties Co Ltd; and by the Ministry of Culture, Sports and Tourism.

The existing opening deadline for the scheme (pictured in a file photo) – located at Yeongjong island, near South Korea’s main air hub, Incheon International Airport – is March 17. The application for an extension to March 17, 2024 for the opening, was made on Tuesday (January 31).

An official at the ministry told GGRAsia by telephone that it was likely to make a decision within 90 days, i.e., by May 1. As a result, in the interim period, the current deadline would be allowed to lapse.

A representative at RFKR told GGRAsia on Tuesday, that in its follow-up with the ministry, it would act “in good faith” when explaining what progress the company had made on the project.

A local politician, Incheon Metropolitan Council member, Shin Sung Young – whose constituency includes the RFKR site, said – during a Tuesday plenary session of the council, streamed online and monitored by GGRAsia – that he was opposed to a new timetable extension. It would be the fourth, according to previous public statements.

Mr Shin said a further extension for RFKR would be “meaningless,” due to the Chinese parent Guangzhou R&F’s “financial difficulty”.

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