TLDR South Korea’s casino reform ideas remain informal, with no official rate or license terms set by the Ministry of Culture, Sports and Tourism. A proposed hike in the Tourism Promotion and Development Fund contribution, from 10% to 15%, has only appeared in media reports so far. Talks include periodic license renewals and government approval for ownership changes, but no fixed timeline exists. Kangwon Land could face new anti-money laundering reporting rules that the company says may cut revenue by 20%. MGM Osaka’s upcoming opening in Japan adds competitive pressure on South Korea’s casino and tourism sector.
South Korea’s government is still discussing ways to change how the country regulates its casino industry. Tourism advisor Lee Jae-seok said these ideas have not been formally proposed yet.
He spoke after a parliamentary forum on the topic. Lee is a government tourism advisor and academic who studies casino policy.
What Changes Are Being Discussed
One idea would raise the cap on casino contributions to the Tourism Promotion and Development Fund. The rate could move from 10% to 15% of annual gaming revenue.
Lee said this 15% figure has only shown up in news articles. The Ministry of Culture, Sports and Tourism has not confirmed this number.
Another proposal would add periodic license renewals for mainland casinos. Right now, no length of time has been set for these renewal periods.
Lee said officials are still deciding whether to add renewals at all. The exact length of any renewal cycle has not been discussed in detail yet.
A third idea would require government approval before a casino changes ownership. Lee said this idea is not a direct response to any single company or deal.
He said ownership issues have come up repeatedly over the years in places like Jeju. He views