Kangwon Land Inc shareholders approve former S.Korea army officer as new CEO

Kim Do-gyun, a former senior South Korean army officer, has been approved by shareholders as president and chief executive of Kangwon Land Inc, the only casino firm in the nation allowed to offer casino gambling to locals. His selection followed an extraordinary meeting of shareholders on Wednesday, according to a filing to the Korea Exchange. Additionally, another person – with a background in intelligence work – was among people elected to official company posts. Mr Kim was appointed for a three-year term, per the announcement. His appointment has to be confirmed by the country’s leader, President Lee Jae Myung. Mr Kim, aged 61, is described as serving from 2020 to 2022 as head of the capital defence command of the Republic of Korea Army. He was also – from 2018 to 2020 – director general for the North Korea Policy Office at South Korea’s Ministry of National Defense. Also elected on Wednesday – as a Kangwon Land Inc executive vice president for a two-year term – was Yu Jeong-bae, also 61, a former president of Korea Coal Corp. The Kangwon Land casino resort is in a former mining area. Wednesday’s shareholder meeting additionally confirmed Jang Kyung-ryul, aged 54, as a Kangwon Land Inc standing director for a two-year term, to join the firm’s audit committee. The newcomer was from 2025 up to this year, director of the Gangwon regional office of the National Intelligence Service. The fresh appointments come as Kangwon Land Inc faces – along with commercial casino operators in the country – possible changes to casino regulation, including a potential rise in contributions to the country’s Tourism Promotion and Development Fund. At Wednesday’s meeting, Kwon Soon-hyung, aged 61, was rejected as a candidate for an executive vice president post at the casino firm.