{"id":16616,"date":"2021-04-06T15:51:12","date_gmt":"2021-04-06T15:51:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16616"},"modified":"2026-04-23T20:34:24","modified_gmt":"2026-04-23T23:34:24","slug":"south-korean-casino-employee-numbers-fall-in-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-korean-casino-employee-numbers-fall-in-2020","title":{"rendered":"South Korean casino employee numbers fall in 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Financial pressures brought about by the Covid-19 pandemic have led to the dismissal of many part-time workers.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Korea.- According to statistics published by<strong> Korea\u2019s Financial Supervisory Service, employee numbers <\/strong>at casino operators Paradise Co, Grand Korea Leisure (GKL) and Kangwon Land <strong>declined in 2020<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Paradise Co saw a 9.7 per cent decline <\/strong>in the size of its workforce from 1,487 to 1,343. <strong>GKL saw a 1.2 per cent decline<\/strong> from 1,853 to 1,831.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The state-run casino operator <strong>Kangwon Land reported a 27.9 per cent reduction in its workforce<\/strong> to 3,713 employees at the end of last year, while only 75 part-time workers remained.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for <strong>salaries, Paradise Co employees saw a 20.7 per cent decline <\/strong>to KRW52.1m (US$46,300).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Both<strong> Kangwon Land and GKL increased average employee salaries <\/strong>to KRW66.74m (US$59,300) and KRW62.2m (US$55,300), up 27.6 per cent and 13 per cent respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Korea Tourism Organization (KTO<\/strong>) recently reported that <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/tourism-in-south-korea-down-90-4-in-february\" target=\"_blank\">tourism was down 90.4 per cent year-on-year\u00a0in February<\/a><\/em>, with 65,582 visitors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial pressures brought about by the Covid-19 pandemic have led to the dismissal of many part-time workers.<\/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":"South Korean casino operators Paradise Co, Grand Korea Leisure (GKL), and Kangwon Land experienced significant workforce reductions in 2020 due to financial pressures from the COVID-19 pandemic and a substantial decline in tourism. While Paradise Co saw a decline in average employee salaries, Kangwon Land and GKL reported increases, indicating varied operational responses to market contraction.","focusai_entities":"Paradise Co, Grand Korea Leisure (GKL), Kangwon Land, Korea\u2019s Financial Supervisory Service, Korea Tourism Organization (KTO)","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Labor Cost Impact Analysis","query":"What was the aggregate impact of these workforce and salary adjustments on the operational expenditure and GGR\/NGR margins for each operator in FY2020, and how does this inform their capital allocation strategies for market recovery?"},{"label":"Regulatory Response to Layoffs","query":"Given the significant workforce reduction at Kangwon Land, a state-run entity, what specific governance frameworks or social welfare provisions were activated by South Korean regulators to mitigate the socio-economic impact on dismissed employees?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23907],"class_list":["post-16616","post","type-post","status-publish","format-standard","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16616","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=16616"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16616\/revisions"}],"predecessor-version":[{"id":16657,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16616\/revisions\/16657"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}