Kangwon Land Inc paid US$427mln in public dues for 2025, more than S.Korea’s 17 foreigner-only casinos

Kangwon Land Inc, the only business in South Korea permitted to run a resort with a casino open to locals, paid more in national and local taxes and contributions to “funds” in 2025 than the country’s foreigner-only casino segment combined. That is according to data issued by the National Gambling Control Commission. Kangwon Land Inc, which runs Kangwon Land in an upland area approximately 150 kilometres (93 miles) from the capital Seoul, paid KRW603.30 billion (US$426.8 million) in dues last year, a 5.8 percent increase from 2024. The firm’s turnover for last year was just over KRW1.43 trillion, up 5.0 percent year-on-year. Government figures differ from company-reported figures, as they are net of customer- incentives. But the foreigner-only sector’s more-modest 2025 public-dues payment of KRW367.1 billion, was on annual turnover that was 58.1 percent higher than Kangwon Land Inc’s, at just over KRW2.26 trillion. The foreigner-only sector’s 2025 turnover was up 21.6 percent year-on-year, per the commission. Its payments in terms of taxes and contributions rose 32.7 percent year-on-year. Kangwon Land Inc’s 2025 dues burden consisted of KRW226.9 billion in national taxes, KRW21.7 billion in local taxes, and KRW354.7 billion in contributions to “funds”. Under the country’s “Special Act on the Assistance to the Development of Abandoned Mine Areas,” passed in 1995, Kangwon Land Inc is expected to contribute up to 13 percent of its annual casino revenue to an Abandoned Mine Fund. Under current arrangements, all South Korean casinos also pay a percentage of annual gross gaming revenue (GGR) to the country’s Tourism Promotion and Development Fund. South Korea had 17 foreigner-only casino premises in 2025, according to the commission. The segment’s 2025 dues were split as: KRW117.0 billion in national taxes, KRW30.6 billion in local taxes; and KRW219.5 billion in contributions to “funds”. The foreigner-only segment had just over 3.49 million casino visitors in 2025, up 18.7 percent year-on-year, the data showed. In August, the Ministry of Culture, Sports and Tourism – which also oversees the casino sector – announced that nearly 10.71 million international tourists visited South Korea in the first half of 2026, up 21.4 percent year-on-year. Kangwon Land Inc saw its 2025 casino visitor volume rise 4.5 percent compared to 2024, to nearly 2.48 million.