The proposal was made during the Jeju International Casino Policy Forum.<\/p>\n\n\n\n\n\n\n\n
South Korea.-\u00a0Casinos located on Jeju island have been deeply affected by the Covid-19 pandemic\u00a0<\/strong>and the lack of tourists during the last year and a half. Experts discussed ideas to help the industry recover at the Jeju International Casino Policy Forum.<\/p>\n\n\n\n At the meeting, Bong Mi Hee, a professor at the Integrated Resort Tourism Research Centre at Inha Technical College<\/strong>, said remote gambling, paid for either by cryptocurrency or credit card, ought to be considered as a plan of action for Jeju casino venues. <\/p>\n\n\n\n In October, a similar proposal<\/a> was made by Lee Sang-heon, a member of the National Assembly\u2019s Culture, Sports and Tourism Committee<\/strong>, who said South Korea\u2019s foreigner-only casinos <\/strong>should be allowed to introduce online gambling services.<\/p>\n\n\n\n According to GGRAsia, Bong said BitCoin could be a suitable digital payment token for blockchain-based exchanges connected to remote gambling, due to consumer awareness of the digital currency brand.\u00a0<\/p>\n\n\n\n However, she also noted that despite the multiple benefits as transparency, the payment method also has some difficulties for the risk of money laundering crimes.<\/p>\n\n\n\n Seo Wonseok, a professor at the Integrated Resort Tourism Research Centre at Kyung Hee University<\/strong>, also shared his visions regarding the possibility of allowing cryptocurrency and said many payment methods could be added. He suggested the development of a localised cryptocurrency.<\/p>\n\n\n\n He said\u00a0the current law that only allows casinos to be housed inside Integrated Resorts should be relaxed\u00a0<\/strong>to help support the Jeju casino sector.<\/p>\n\n\n\n Although there are eight casinos on Jeju island, only three are open<\/strong>: Jeju Shinhwa World<\/strong>, operated by Hong Kong-listed Landing International, Paradise Casino<\/strong>, operated by Paradise Co Ltd, and Jeju Dream Tower, run by Lotte Tour Development Co Ltd.<\/p>\n\n\n\n