Kangwon Land approves new management strategy with US$2.26bn revenue goal

The board-approved plan sets new performance benchmarks and extends the company’s strategic outlook to 2035.

South Korea.- The South Korean casino operator Kangwon Land has adopted a new management framework for 2027–2031, with a KRW3tn (US$2.26bn) revenue goal and additional performance targets covering customer service, ESG ratings and regional economic development. The company’s board approved the plan at a meeting on October 26 under new chief executive Kim Do-kyun.

The new strategy replaces the company’s 2030 plan and extends its long-term outlook to 2035. Alongside its revenue goal, Kangwon Land aims to secure the highest grade in South Korea’s public-sector customer satisfaction assessment, an integrated S rating in environmental, social and governance (ESG) evaluations, and an S rating for its contribution to the regional economy.

The plan identifies four areas for development: strengthening tourism beyond casino gambling, developing a casino focused on responsible entertainment, supporting communities affected by the decline of coal mining, and improving the company’s long-term business performance.

The strategy comes as Kangwon Land seeks to attract more domestic and international visitors through investment in gaming and non-gaming facilities under its K-HIT redevelopment programme targeting KRW3.5tn (US$2.63bn) in annual revenue. The company has not clarified how the latest KRW3tn (US$2.26bn) revenue target relates to that earlier goal or whether the new strategy will change the project’s investment plans and development schedule.

Kangwon Land operates South Korea’s only casino open to local gamblers, alongside hotels and tourism facilities at its Jeongseon resort in Gangwon Province. Recently, the company offered US$2.3m to attract businesses to former coal-mining towns in the province as part of efforts to diversify the local economy.