Key Moments:
- Industry and policy leaders have urged bold reforms to drive innovation and regulatory streamlining within Korea’s integrated resort (IR) sector.
- Calls have been made to expand entertainment offerings and consider controlled local casino access to boost competitiveness and attract investment.
- Panelists have stressed the importance of responsible gaming, robust safeguards, and transparent governance for sustainable industry growth.
Pushing for Change in Korea’s Integrated Resort Industry
Leading tourism and governance experts gathered at The Korea Times Global Business Club event to advocate for significant changes in Korea’s integrated resort landscape. The session focused on how the nation can restore momentum in its IR development by embracing innovation, streamlining regulations, and adopting a more flexible framework for casino access.
Driving Market Innovation and Cultural Appeal
Seo Won-seok, a professor at Kyung Hee University and president of the Tourism Sciences Society of Korea, opened the event by emphasizing the necessity for market-driven reform. Citing the importance of developing “culturally rich and sustainable tourism destinations,” Seo called for policymakers to look to successful international models and adapt by blending cultural value with advanced tourism infrastructure.
Lee Jin-sik, secretary general of the National Gambling Control Commission, addressed concerns about stagnation in Korea’s IR growth. Citing slow progress due to fragmented legislation and risk-averse investment strategies, Lee underlined the need for regulatory clarity and stronger incentives to prevent Korea from falling behind major regional players.
Diversification and Expanding the Visitor Base
From a global perspective, Professor Lee Jae-seok of Gangneung-Wonju University highlighted that the next generation of integrated resorts should reduce reliance on gaming alone. He suggested that Korea’s strong presence in cultural exports such as K-pop and esports can give its IRs a distinct advantage if mapped into broader entertainment and tourism strategies. Potential collaborations with entertainment, streaming, and MICE sectors were discussed as pathways to create more holistic destinations.
On casino access policies, professor Lee pointed out that Korea currently restricts casinos to foreign visitors, a model also used by Vietnam, which began limited trials for local access in 2019. He recommended that Korea consider adopting controlled access models to attract more investors and enable the development of world-class complexes.
Responsibility and Regulatory Safeguards
Park Jun-hwi, senior researcher at the Korean Institute of Criminology and Justice, cautioned that boosting economic activity through IRs should be balanced with measures to protect public safety. He emphasized the need for early intervention systems and adherence to international regulatory norms to counter the risks of gambling addiction, financial crime, and money laundering.
Correspondingly, Jeong Kwang-min, research fellow at the Korea Culture and Tourism Institute, pointed to restrictive casino regulations as a factor limiting economic potential and encouraging outbound tourism by Koreans. According to Jeong, allowing transparent, limited access for local residents—together with robust responsible gaming initiatives—could help revitalize the domestic market.
Consensus for Comprehensive Reform
Panelists at the event concluded that integrated reform, improved governance, and broader diversification strategies are crucial for regaining Korea’s regional leadership in tourism. Moderator Seo finalized the discussion with a call for a new approach focused on sustainable growth and cultural vibrancy in the IR sector.
The panel agreed that the choices made in the near future will be critical in shaping the IR industry’s contribution to both the economic and cultural landscape of Korea.
| Key Issues | Panelist Recommendations |
|---|---|
| Regulatory Structure | Streamline and clarify regulations to foster investment and growth |
| Diversification | Expand beyond gaming by integrating culture, sports, and entertainment |
| Casino Access Policy | Consider controlled models for local access to boost the domestic market |
| Responsible Gaming | Implement early intervention systems and global compliance standards |
- Author
Daniel Williams
