{"id":16437,"date":"2021-03-31T15:33:04","date_gmt":"2021-03-31T15:33:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16437"},"modified":"2026-04-23T20:42:02","modified_gmt":"2026-04-23T23:42:02","slug":"kangwon-land-appoints-lee-sam-geol-as-new-ceo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-appoints-lee-sam-geol-as-new-ceo","title":{"rendered":"Kangwon Land appoints Lee Sam-Geol as new CEO"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Lee Sam-Geol will replace Moon Tae-Gon, who was promoted to the position of interim chairman last year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Korea.- Kangwon Land Inc\u00a0<strong>has appointed\u00a0Lee Sam-Geol\u00a0as executive director and chief executive officer\u00a0<\/strong>after a vote at the company&#8217;s regular shareholders\u2019 meeting.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>former governor of North Gyeongsang Province<\/strong> will replace<strong>\u00a0<\/strong>Moon Tae-Gon<strong>\u00a0<\/strong>for a three-year term. Tae-Gon was promoted to the position of interim chairman last year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lee Sam-Geol previously served as the second vice minister of the Ministry of Public Administration and Security.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Korean law, <strong>Kangwon Land&#8217;s CEO must be appointed by the president<\/strong> upon recommendation of the Minister of Strategy and Finance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The National Assembly<\/strong> has recently granted the South Korean casino operator <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-licence-extension-comes-with-tax-hike\" target=\"_blank\">a 20-year licence extension after its current 2025 expiry<\/a><\/em> in exchange for a bigger slice of revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The casino operator recently reported an <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-reports-us250m-loss-for-2020\" target=\"_blank\">adjusted loss of KRW275.88bn (US$249.7m) for 2020<\/a><\/em> due to Covid-19 countermeasures and closures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lee Sam-Geol will replace Moon Tae-Gon, who was promoted to the position of interim chairman last year.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kangwon Land Inc., a prominent South Korean casino operator, has appointed Lee Sam-Geol as its new executive director and CEO following a shareholder vote. This executive transition, which requires presidential approval, occurs amidst a recent 20-year license extension granted to Kangwon Land in exchange for an increased revenue share, following reported 2020 losses due to COVID-19 countermeasures.","focusai_entities":"Lee Sam-Geol, Moon Tae-Gon, Kangwon Land Inc., Ministry of Public Administration and Security, Minister of Strategy and Finance, National Assembly","focusai_location":"South Korea, North Gyeongsang Province","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"CEO's Strategic Vision","query":"What are the immediate strategic priorities for Lee Sam-Geol regarding Kangwon Land's operational recovery, market diversification, and capital expenditure following his appointment?"},{"label":"License Extension Impact","query":"How will the increased revenue share stipulated in the 20-year license extension agreement impact Kangwon Land's net gaming revenue (NGR) projections and long-term profitability margins?"}],"footnotes":""},"categories":[157,16338],"tags":[16471],"class_list":["post-16437","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-kangwon-land"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16437"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16437\/revisions"}],"predecessor-version":[{"id":16463,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16437\/revisions\/16463"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}