$13.4 mil. stolen from casino on Jeju Island

The entrance to Landing Casino located at Jeju Shinhwa World, Jeju Island. / Korea Times file

By Lee Hyo-jin

A total of 14.5 billion won ($13.4 million) in cash was stolen from a casino on Jeju Island, according to Seogwipo Police Station, Thursday.

Police have launched an investigation into the theft following a report filed Tuesday by Landing Entertainment Korea, the operator of Landing Casino located at Jeju Shinhwa World, a resort complex.

According to the company, a Malaysian employee who was in charge of fund management went missing at the same time as the theft was discovered after going on a year-end holiday. The company filed a complaint with the police against the staff member.

Considering that 500 million won in 50,000-won bills weighs about 10 kilograms, the missing cash in total would at least weigh 290 kilograms.

"The money seems to have been taken away over a period of seven to eight months," said an officer at Seogwipo Police Station. "But it seems that the theft was not noticed as a large amount of cash was always stored in the safe."

The police are conducting an investigation on how the crime took place based on CCTV footage and are also looking if there was an accomplice.

The missing money does not belong to Jeju Shinhwa World or Landing Casino but Landing International Development, the parent company of Landing Entertainment Korea. The group made an announcement about the missing money Tuesday at the Hong Kong stock exchange, where it is listed.

Jeju Landing Casino, a foreign national-only gambling venue, opened in March, 2018. It is the second-largest casino in the country after Paradise City in Incheon.

The casino is undergoing financial difficulties due to a drop in visitors and suspension of operations amid the prolonged COVID-19 pandemic.

Site Map E-paper Subscribe Register LogIn
Site Map E-paper Subscribe Register LogIn