2nd casino for locals eyed at Saemangeum

By Kang Seung-woo

Lawmakers from the minor opposition People’s Party are seeking to submit a revision bill to pave the way for the creation of another casino allowing Koreans to gamble, in the Saemangeum area in North Jeolla Province.

If established, it will be the nation’s second casino accepting Koreans after Kangwon Land in Gangwon Province.

“Some lawmakers are working on a revision bill for the creation of an integrated casino resort, like Marina Bay Sands in Singapore, that allows access to Koreans,” said Rep. Kim Kwan-young of the People’s Party.

“Should a casino be open to locals, Marina Bay Sands said it would invest 5 to 10 trillion won ($4.48 billion to 8.97 billion) in the casino construction. In addition, it will produce 30,000 new jobs.”

Under the Saemangeum development project, which was completed in 2006, the government has spent around 3 trillion won to build the world’s longest seawall at 33.9 kilometers on the southwest coast of Korea with the long term aim of becoming an eco-friendly waterfront city with high-end industrial, tourism and agricultural facilities, as well as science and research institutes.

According to the Saemangeum Special Law, a foreigner-exclusive casino can only be established in the reclaimed area.

According to the lawmaker, the casino, if established, will set a higher admission fee ranging from 50,000 won to 100,000 won per person, compared with Kangwon Land’s 9,000 won, and prevent locals from entering the casino for more than 10 days per month.

The party, founded in February, has emerged as the new representative of North and South Jeolla provinces after winning 23 out of 28 parliamentary seats up for grabs there ― seven out of 10 in North Jeolla Province.

According to Kim, he has got the agreement from fellow lawmakers representing North Jeolla Province, including Chung Dong-young, who belongs to the National Assembly Land Infrastructure and Transport Committee. The parliamentary committee deals with the Saemangeum Special Law.

However, the casino plan is expected to create a strong backlash from Kangwon Land and residents there.

Last year, former Oceans and Fisheries Minister Yoo Ki-june revealed his plan to allow local cruise operators to run an open casino, where Koreans would be permitted to enter and gamble, but it led to violent protests and demonstrations from those who live near Kangwon Land.

As part of the efforts to assuage possible complaints from residents there, Kim said the party will consider revising the law to allow Kangwon Land to invest in the Saemangeum casino resort.

In addition, distributing a portion of the earnings to Gangwon Province is another option under consideration, Kim said.