Kangwon Land net income falls 30.7 per cent in 2025
A 17.7 per cent decline in operating income weighed on overall performance.
South Korea.- Kangwon Land, the only casino in South Korea open to locals, has reported net income of KRW316.51bn (US$215.41m) for 2025. That’s a 30.7 per cent decrease from 2024 due to a year-on-year drop in non-operating income.
While sales rose 3.5 per cent year on year to KRW1.47trn (US$1bn) in 2025, operating income fell 17.7 per cent decline to KRW235.17bn (US$160.05m). At year-end, the company’s liabilities stood at KRW892.97bn (US$607.65m), according to preliminary results. Final audited results are expected on January 28.
The Korean government is reportedly considering channeling a portion of Kangwon Land’s revenue to cover the debt of its state coal firm. The Ministry of Trade, Industry and Resources reportedly wants to use roughly 10 per cent of Kangwon Land’s annual revenue over 20 years to help repay the Korea Coal Corporation’s (KOCOAL) KRW2.5trn (US$1.67bn) debt.
While the proposal is not expected to be finalised until interagency talks in February, it has drawn some criticism from stakeholders who warn it may strain the company’s financial stability.
