South Korea Allows Foreign Casino Investors

SOUTH KOREA – As reported by the Joong Ang Daily: "President Roh Moo-hyun and his cabinet approved a proposal yesterday from the Culture and Tourism Ministry authorizing foreign companies that invest $500 million in Korea's tourism industry to open a casino.

"The casinos could cater only to foreigners.

"…Existing law allows new casinos to be built when the number of foreign tourists in the country rises by 300,000…"

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