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Gambling in South Korea Increases

3 January 2003

SEOUL, South Korea – As reported by the Asia Times: "The market for gambling and racing in South Korea grew last year at double the rate it did in 2000, despite the general economic slowdown, the Korea Leisure Industry Research Institute said on Friday.

"In a report, the institute said the scale of the gambling and racing market last year amounted to 11.3 trillion won (US$9.5 billion), nearly double the 5.9 trillion won recorded in 2000 and up 31.1 percent from 8.6 trillion won in 2001.

"…The number of those who frequented gambling and racing venues last year totaled 23.13 million, up 21 percent from the preceding year.

"… Sales revenue at the Kangwon Land casino, where Korean customers are allowed to participate, recorded 460 billion won (US$386 million)in sales, with a minimal increase from the previous year…"

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