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South Korean Casinos to Open in 2005

3 September 2004

SOUTH KOREA – As reported by the Korea Times: "After a 10-year lull, three new foreigner-only casinos will open in an effort to meet the needs of the increasing number of tourists, to promote the flourishing tourism industry and create new jobs, a top government official said Friday. Of the three casinos, two will be established in Seoul, and the remaining one in Pusan.

"The government expects the new casinos to rake in $1.5 billion annually, Minister of Culture and Tourism Chung Dong-chae said in a press briefing held at the ministry in Seoul.

"The soon-to-be open casinos, like the 13 currently in business, will serve only foreigners.

"The three casinos are scheduled to open sometime in the latter half of 2005…"

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