Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
ROUNDTABLE Integrated resorts under pressure to reinvent ahead of Japan's mega complex
Participants in The Korea Times' roundtable discussion pose for a photo at the newspaper's headquarters in Seoul, Thursday. From left are Kim Jae-kyoung, vice president of The Korea Times; Kim Eom-kwon, a team leader at Grand Korea Leisure; Seo Won-suk, president of the Tourism Sciences Society of Korea; Lee Jae-seok, a professor in the department of tourism management at Kangwon National University; Lee Dae-shin, head of the casino strategy team at Kangwon Land; and Kim Ho-saeng, a leader in the casino strategy part at Kangwon Land. Korea Times photo by Shim Hyun-chul
By Baek Byung-yeul
Local resorts argue easing heavy administrative burdens necessary to stay competitive
Korea's tourism and casino industry faces a critical turning point as it races to overhaul its public image and ease regulatory burdens before Japan opens its massive integrated resort in 2030.
Industry experts and academic figures gathered at The Korea Times' roundtable discussion in Seoul on Thursday to share survival strategies against Japan's upcoming integrated resort in Osaka, which could trigger a massive outflow of tourists and capital.
Kang Sung-sook, a professor at Tezukayama University in Japan, stressed that the Osaka development is designed to be much more than a simple gaming venue.
"The Osaka integrated resort is not merely a facility to attract tourists," said Kang, who joined the meeting online. "It aims to become an innovation hub for international conferences, exhibitions and corporate activities."
Kang Sung-sook, a professor at Tezukayama University in Japan, addresses The Korea Times' roundtable discussion online while other participants look on at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
The Osaka project is spearheaded by a consortium where U.S. entertainment giant MGM Resorts International and Japanese financial services group Orix each hold an investment ratio of about 44 percent.
The remaining 12 percent is backed by 22 local minority shareholders. The massive project requires an initial investment of roughly 1.51 trillion yen ($9.5 billion). Targeting an opening in the autumn of 2030, the resort aims to draw about 20 million visitors annually, including 14 million domestic and 6 million international tourists.
"The true success of the Osaka project depends not only on the number of visitors but on how deeply it coexists with and benefits the local community," the professor said.
She explained that local officials spent years holding dozens of university lectures and corporate seminars to build public consensus and establish rules ensuring the economic benefits circulate within the regional economy.
Local casino operators in Korea expressed a deep sense of crisis regarding the imminent Japanese competition. They called on the government to ease heavy administrative burdens so they can enhance their global competitiveness in a timely manner.
Kim Eom-kwon, a team leader at Grand Korea Leisure, speaks during The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Calls for regulatory relief
Kim Eom-kwon, a team leader at Grand Korea Leisure (GKL), a state-run resort operator under the Ministry of Culture, Sports and Tourism, expressed concerns that the entire domestic casino sector will inevitably take a significant hit.
"We feel a strong sense of crisis as the Japanese resort will draw a massive number of tourists away from Korea," Kim said.
"While we are eager to upgrade our facilities to meet the rising expectations of visitors, we often face complex administrative hurdles. We hope for a regulatory environment that fosters growth and innovation rather than relying strictly on regulations."
Lee Dae-shin, head of the casino strategy team at Kangwon Land, speaks during The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Lee Dae-shin, the head of the casino strategy team at Kangwon Land, which runs the country's only resort that allows local citizens, pointed out that state enterprises face lengthy administrative processes that can delay urgent facility upgrades.
"As a public enterprise, we are required to undergo lengthy preliminary feasibility studies before making new investments, which can take several years," Lee said. "To effectively compete with the upcoming Japanese resort, we need more streamlined administrative procedures."
Kim Ho-saeng, a leader in the casino strategy part at Kangwon Land, joins The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Kim Ho-saeng, a leader in the casino strategy part at Kangwon Land, added that the government should look beyond current strategies.
"While the government focuses on K-culture to attract 30 million overseas tourists annually, having a globally competitive integrated resort is an equally essential pillar," Kim said. "The government should show greater interest in nurturing the integrated resort industry."
Lee Min-jae, board director of the Integrated Resort Tourism Research Center, speaks during The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Rebranding needed for survival
Experts at the forum unanimously agreed that Korea must shake off the negative stigma attached to casinos and rebrand them as family friendly entertainment spaces.
Lee Min-jae, board director of the Integrated Resort Tourism Research Center, said the public still heavily associates casinos with gambling rather than comprehensive entertainment.
"Local casinos are already contributing significantly to their communities, but the public image remains largely negative," Lee said. "We need to ensure that the industry's financial contributions are used in ways that local residents can directly feel and appreciate."
Lee Jae-seok, a professor in the department of tourism management at Kangwon National University, takes part in The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Lee Jae-seok, a professor in the department of tourism management at Kangwon National University, echoed this sentiment and emphasized the need for structural transformation.
"We must transform our casinos from simple gaming venues into comprehensive entertainment destinations where visitors genuinely want to stay," the professor said. He explained that improving transportation accessibility and developing nongaming content are critical steps for long-term survival.
Kim Jae-kyoung, vice president of The Korea Times, emphasized the necessity of a paradigm shift.
"When people think of Marina Bay Sands in Singapore, they envision a sophisticated convention and entertainment hub, not just a gambling venue," Kim said. "We urgently need a similar strategic rebranding effort in Korea to change how the public views integrated resorts."
Seo Won-suk, second from right, president of the Tourism Sciences Society of Korea, speaks during The Korea Times' roundtable discussion at the newspaper's headquarters in Seoul, Thursday. Korea Times photo by Shim Hyun-chul
Seo Won-suk, president of the Tourism Sciences Society of Korea, wrapped up the discussion by highlighting the changing global standards.
"Japan is focusing on qualitative growth and value creation rather than just chasing visitor numbers," Seo said. "Korea must adopt a proactive policy to nurture the industry and ensure the survival of our local tourism sector."