A Korean tourism professor has called for the establishment of a dedicated regulatory body tasked with monitoring the gambling activities of South Korean nationals gambling abroad.
Lee Jae-seok, a professor of tourism at Gangneung-Wonju National University, made the suggestion during a policy forum jointly hosted last week by The Korea Times and the Tourism Sciences Society of Korea (TOSOK), where the nation’s current approach to gambling were discussed at length.
Under Korean law, citizens are not permitted to gamble either domestically or abroad unless it is deemed to involve small wagers and solely for entertainment purposes, or at the country’s limited number of government-approved venues. These include Kangwon Land – the only one of Korea’s 18 casinos at which locals can legally gamble – with the other 17 casinos all strictly foreigner-only.
Anyone convicted of illegal gambling faces fines of up to KRW10 million (US$7,315), while habitual gambling can carry a prison sentence of up to three years or a fine of up to KRW20 million (US$14,630).
According to The Korea Times, the most recent figures from the National Gambling Control Commission indicate that Korean nationals gambled an estimated KRW4.9 trillion (US$3.59 billion) overseas in 2017 of which around 80% was in Macau and the Philippines.
However, Professor Lee told the forum that it was difficult to assess a true number given the likely growth of gambling by Koreans in Southeast Asia.
“While Macau and the Philippines remain key destinations for those who engage in overseas gambling, the market is expanding to neighboring countries such as Laos, Cambodia and Vietnam and also quickly evolving online. That’s why we need a permanent regulatory body to comprehensively monitor international gambling activities in the whole ASEAN market,” he said.
The secretary general of the National Gambling Control Commission, Lee Jin-sik, noted that “overseas gambling is not an official legal term and the criteria for distinguishing between tourist activities and gambling remain ambiguous.”
Others also called for an overhaul of Korea’s gambling regulations.
These included, Tony Kim, head of marketing for foreigner-only casino operator Grand Korea Leisure (GKL), who suggested that doing so could improve the regional competitiveness of Korea’s integrated resorts.
“The casino industry should be re-examined outside the existing frame of gambling and its contribution to revitalizing the local economy, securing tax revenues and developing the tourism industry should be considered,” he said.
Kim added Korea needs to provide institutional support to improve service quality in domestic casinos and foster healthy growth of integrated resorts that house casinos, according to The Korea Times report.
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