Academics, industry leaders and government officials gathered for the event “Korean-style integrated resorts and future strategic directions.”
The event, organized by the Korean Times Global Business Club, focused on the sustainable development of integrated resorts in the region and possible ways to support the growth of the industry.
One of the proposals was the establishment of a gambling regulatory body to improve public perception of casinos and combat gambling addiction.
Gangneung-Wonju National University Professor Lee Jae-seok noted: “I don’t think making gambling a taboo and sweeping it under the rug will solve the problems of gambling addiction.”
He also noted that education is a key element in preventing addiction and should be encouraged from an early age.
The event also highlighted that gambling regulators should not only promote responsible gambling but also highlight the positive contributions casinos make, including job creation and economic support.
The event also discussed the problems of illegal gambling and its scale in the country.
Korean Institute of Criminology and Justice VP Park Jun-hwi commented: “The seven legal gambling industries’ sales amount to 20 trillion won ($15.1 billion), while that of illegal gambling far exceed 100 trillion won ($75.5 billion).”
Also on the agenda was the growing competition in the development and operation of integrated resorts in the country, with recommendations for Korea to follow the example of Japan, which spent 12 years on operational planning and regulation of its planned integrated resort in Yumeshima.
In other news from Asia last week, it was announced that Macau casino operators saw revenue gains after the Chinese government’s announcement to revitalize the economy with a major stimulus package.
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