Kangwon Land selects Shinyoung C&D consortium for US$55m casino project
The new facility is expected to support the operator’s casino expansion plans and ease congestion at its existing gaming floor.
Key takeaways
- Kangwon Land selected a Shinyoung C&D-led consortium for its KRW74.1bn (US$55.46m) second casino construction project.
- Construction is expected to take 23 months and includes a six-level casino building.
- The project forms part of Kangwon Land’s K-HIT development strategy to expand gaming capacity and upgrade resort facilities.
- Other investments include 757 accommodation room renovations and a KRW29.9bn casino members’ gaming floor remodelling project.
South Korea.- Kangwon Land has selected a consortium led by Shinyoung C&D as the preferred bidder for the construction of its second casino facility in Jeongseon County, South Korea. The construction arm of Shinyoung Group was selected as the top-ranked bidder following a tender conducted by the Public Procurement Service under South Korea’s comprehensive evaluation bidding system. The company holds a 65 per cent stake in the consortium, while Seorim Construction and Daehwa Construction account for 20 per cent and 15 per cent, respectively.
The KRW74.1bn (US$55.46m) project involves the construction of a six-level building, comprising two basement floors and four above-ground floors, on Kangwon Land’s existing property. It also includes renovation work on existing tourist accommodation and entertainment facilities. Construction is expected to take approximately 23 months.
The second casino project received approval from South Korea’s Ministry of Culture, Sports and Tourism in September 2024, allowing Kangwon Land to increase its general casino area from 14,512.68 square metres to 20,260.68 square metres. At the time, the operator said the expansion would help reduce overcrowding and improve the gaming environment.
Kangwon Land is also upgrading its accommodation facilities as part of its Korean-High1 Integrated Tourism (K-HIT) strategy, which aims to diversify the resort’s attractions and strengthen its hospitality offering. The resort is renovating 757 rooms across the High1 Grand Hotel Main Tower, including 477 at the High1 Grand Hotel Main Tower and 280 at the Mountain Condominium.
Work at the condominium is due to finish in the fourth quarter of 2027, while the hotel renovation is expected to be completed in the first quarter of 2028. It has also allocated KRW29.9bn (US$22.3m) to remodel its casino members’ gaming floor, with completion targeted for the second quarter of 2027.
Frequently Asked Questions (FAQs)
- Who won the contract to build Kangwon Land’s second casino? A consortium led by Shinyoung C&D was selected as the top-ranked bidder for the KRW74.1bn (US$55.46m) project.
- How long will construction of Kangwon Land’s second casino take? Construction is expected to take approximately 23 months.
- Why is Kangwon Land building a second casino? The development is part of the operator’s expansion strategy to increase gaming capacity and address overcrowding at its existing casino.
