{"id":777021067,"date":"2024-11-28T09:19:54","date_gmt":"2024-11-28T12:19:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777021067"},"modified":"2026-04-22T03:47:48","modified_gmt":"2026-04-22T06:47:48","slug":"grand-korea-leisure-names-yoon-doo-hyun-as-president","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-names-yoon-doo-hyun-as-president","title":{"rendered":"Grand Korea Leisure names Yoon Doo Hyun as president"},"content":{"rendered":"\n<p>Yoon Doo Hyun has been appointed for three years, pending government approval.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- <strong>Grand Korea Leisure (GKL) <\/strong>has appointed the former senior government official<strong> Yoon Doo Hyun<\/strong> as its next president. <strong>The term for this appointment will last three years<\/strong>. The decision was made during an extraordinary shareholder meeting held on Monday (November 25) and disclosed in a filing to the Korea Exchange on Wednesday (November 27). Hyun\u2019s appointment remains subject to approval by the national government.<\/p>\n\n\n\n<p>Yoon Doo Hyun served in South Korea\u2019s National Assembly during its 21st term from May 2020 to May 2024. He held the role of <strong>senior secretary for public relations<\/strong> at the Office of the President between 2014 and 2015.<\/p>\n\n\n\n<p>According to GKL, the other two candidates were former senior tourism officials<strong> Park Kang Sup<\/strong> and <strong>Lee Jae Kyong<\/strong>. Kyong had served as GKL\u2019s vice president from 2013 to 2016.<\/p>\n\n\n\n<p>GKL is a subsidiary of the Korea Tourism Organisation, which is affiliated with the Ministry of Culture, Sports and Tourism. As the company is a public corporation, the appointment requires presidential approval based on the recommendation of the minister of culture, sports, and tourism.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">GKL posts net income of US$4.3m for Q3<\/h2>\n\n\n\n<p>GKL posted a net profit of KRW6.04bn (US$4.3m) for Q3, down 49.5 per cent in year-on-year terms and 46.6 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-posts-net-profit-of-us8-3m-for-q2\" target=\"_blank\" rel=\"noreferrer noopener\">sequentially<\/a>. Sales reached\u00a0KRW93.77bn (US$66.7m), a decrease of 2.9 per cent year-on-year and 5.1 per cent from the previous quarter. Cumulative sales for the first nine months of the year were down 5 per cent in year-on-year terms to KRW290.54bn (US$206.2m).<\/p>\n\n\n\n<p>Casino net sales were KRW287.3bn (US$204.5m), a decrease of 6.1 per cent from a year earlier, while the casino drop increased by 13.5 per cent year-on-year to KRW2.77tn (US$1.97bn). Grand Korea Leisure runs three casinos in South Korea under the Seven Luck brand. Two are in Seoul, while the third is in Busan. Some 58 per cent of the casino drop was generated from its Gangnam Coex property. Visitor numbers totalled 751,047 in the first nine months of the year. That\u2019s a 41.8 per cent increase compared to last year.<\/p>\n\n\n\n<p>The hold rate for the company\u2019s casino operations was 10.4 per cent, down 12.5 per cent year-on-year. The expenses related to marketing activities totalled KRW47.6bn (US$33.9m). That\u2019s an increase of 18.1 per cent in year-on-year terms.<\/p>\n\n\n\n<p>In October, casino sales were down 11 per cent&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/gambling-in-south-korea-gkl-casino-sales-down-16-9-in-september\" rel=\"noreferrer noopener\">in month-on-month terms<\/a>, from KRW34.3bn (US$25.7m) to KRW30.54bn (US$22.2m). Compared to last year, casino sales were up by 6.6&nbsp;per cent.&nbsp;<strong>Table-game revenue<\/strong> was KRW27.80bn (US$20.2m), up 0.7 per cent year-on-year.&nbsp;<strong>Machine game sales<\/strong> were KRW2.73bn (US$2m), up slightly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yoon Doo Hyun has been appointed for three years, pending government approval.<\/p>\n","protected":false},"author":176,"featured_media":777020164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Grand Korea Leisure (GKL) has appointed former senior government official Yoon Doo Hyun as its new president for a three-year term, pending national government approval. This leadership transition coincides with GKL reporting a 49.5% year-on-year decline in Q3 net income to US$4.3m, despite a 13.5% increase in casino drop, indicating pressure on hold rates and profitability.","focusai_entities":"Yoon Doo Hyun, Grand Korea Leisure, GKL, Korea Exchange, National Assembly, Office of the President, Park Kang Sup, Lee Jae Kyong, Korea Tourism Organisation, Ministry of Culture, Sports and Tourism, Seven Luck","focusai_location":"South Korea, Seoul, Busan, Gangnam Coex","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), operator_casino (0.9), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GKL Strategic Direction?","query":"What strategic shifts might Yoon Doo Hyun implement at GKL, given his government background, and how could this impact GKL's market share or operational efficiency in the South Korean casino market?"},{"label":"Q3 Financial Performance Impact?","query":"How will the 49.5% year-on-year decline in net income and the 12.5% drop in hold rate for GKL's Q3 performance influence its capital allocation strategies and investor sentiment moving forward?"}],"footnotes":""},"categories":[157,16338],"tags":[29,17025],"class_list":["post-777021067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-casino","tag-grand-korea-leisure"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021067","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=777021067"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021067\/revisions"}],"predecessor-version":[{"id":777021088,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021067\/revisions\/777021088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777020164"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}