{"id":777037009,"date":"2026-01-21T10:53:47","date_gmt":"2026-01-21T13:53:47","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777037009"},"modified":"2026-04-21T15:09:44","modified_gmt":"2026-04-21T18:09:44","slug":"south-korea-considers-using-kangwon-lands-revenue-to-repay-korea-coal-corp-debt","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-korea-considers-using-kangwon-lands-revenue-to-repay-korea-coal-corp-debt","title":{"rendered":"South Korea considers using Kangwon Land revenue to repay Korea Coal Corp debt"},"content":{"rendered":"\n

Kangwon Land Inc reported revenues of just under KRW1.43trn (US$971m) in 2024.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The Ministry of Trade, Industry and Energy in South Korea is reportedly considering plans for state-owned casino firm Kangwon Land Inc <\/strong>to settle a KRW2.46trn<\/strong> (US$1.67bn) debt owed by its affiliate, Korea Coal Corp<\/strong>. According to local news outlet Chosun Biz<\/strong>, officials believe the debt could be repaid by allocating 10 per cent<\/strong> of Kangwon Land Inc\u2019s annual revenue over the next 20 years<\/strong>.<\/p>\n\n\n\n

Kangwon Land<\/strong> is South Korea’s only casino open to locals. It generated revenue of KRW1.43trn<\/strong> (US$971m) in 2024, according to a January 2025 filing with the Korea Exchange.<\/p>\n\n\n\n

Although the ministry noted that the matter was \u201cyet to be decided\u201d, the move is already facing opposition from some stakeholders. A local civic group from Jeongseon County in Gangwon Province<\/strong>, where the resort is located, has issued a statement opposing the proposal.<\/p>\n\n\n\n

The group maintained that there are \u201cno provisions in the Special Act\u201d to allow for the proposed debt arrangement and that priority should be given to easing operating restrictions at Kangwon Land due to the upcoming opening of MGM Osaka in Japan, scheduled for 2030. Kangwon Land has sought government concessions as part of its K-HIT 1.0 reinvestment initiative aimed at making the casino globally competitive.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> SJM completes US$540m bond issuance and confirms Hong Kong listing<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Kangwon Land Inc reported revenues of just under KRW1.43trn (US$971m) in 2024.<\/p>\n","protected":false},"author":2395,"featured_media":777022180,"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, South Korea's sole casino for locals, faces a potential government mandate to settle a KRW2.46trn (US$1.67bn) debt owed by its affiliate, Korea Coal Corp, by allocating 10% of its annual revenue for 20 years. This proposal, despite Kangwon Land's own KRW1.43trn (US$971m) 2024 revenue, is encountering significant opposition from local stakeholders who cite legal inconsistencies and advocate for easing operating restrictions to enhance competitiveness against upcoming regional rivals like MGM Osaka.","focusai_entities":"Kangwon Land Inc, Korea Coal Corp, Ministry of Trade, Industry and Energy, Chosun Biz, Korea Exchange, MGM Osaka","focusai_location":"South Korea, Jeongseon County, Gangwon Province, Japan","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Legal Basis for Debt Transfer?","query":"What specific legal provisions within the 'Special Act' are being cited by the Ministry of Trade, Industry and Energy to justify the proposed debt transfer from Korea Coal Corp to Kangwon Land Inc, and how do these provisions address the opposition's claims of inconsistency?"},{"label":"Impact on K-HIT 1.0?","query":"How will the proposed 10% annual revenue allocation for debt repayment impact the funding and timeline of Kangwon Land's K-HIT 1.0 reinvestment initiative, and what are the revised projections for achieving global competitiveness against regional rivals?"}],"footnotes":""},"categories":[16338,163],"tags":[29],"class_list":["post-777037009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037009","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\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777037009"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037009\/revisions"}],"predecessor-version":[{"id":777037014,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037009\/revisions\/777037014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777022180"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777037009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777037009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777037009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}