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Lotteries for Foreign Patrons Hit Korean Market

10 March 2002

SOUTH KOREA -- March 8, 2002 -- As reported by the Korea Herald: `` A new lottery series recently hit the market, and it is targeting foreigners visiting or residing in Korea as its sole consumer group.

``Issued and sponsored by the local company Kolotto, the lottery comes in four different gaming formats - poker, blackjack, a Korean bar-tossing game (yutnori) and casino.

`Available in three languages - English, Japanese and Chinese - the lottery has 12 varieties in all. Each set, priced at 2,000 won ($1.52), has two scratch-off tickets.

``With 10 million won ($7,607,000) being the highest prize for each set, the lottery series boasts a winning rate of 35 percent, the highest among all lotteries issued in Korea, according to Kolotto officials.

"The concept of lotteries solely for expats is almost unknown in other parts of the world," Lee Sung-hwan, marketing director of Kolotto, said. "Our sales goal for the first three months is 2 million tickets."

``...Last year, Korea received 5.28 million international travelers, and officials forecast that the number will drastically increase with the arrival of the World Cup soccer finals and Busan Asian Games this year..."

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