TLDR
- South Korea’s Financial Intelligence Unit is considering rules that would require casinos to record details on all patrons, even small bettors.
- The current reporting threshold is KRW10 million, but the new proposal could lower it to just KRW1,000.
- Kangwon Land, the only casino open to Korean citizens, warns the change could cut its gross gaming revenue by nearly 20%.
- The amendments still need approval from the National Assembly and had not been formally submitted as of the report.
- Local communities near Kangwon Land fear a drop in casino-funded development contributions and dividends.
South Korea’s Financial Intelligence Unit is looking at changes that would make casinos record transaction and personal details for patrons, no matter how small their bets are. The proposal is part of a wider push to tighten anti-money laundering rules in the country’s gaming industry.
The changes would amend the Act on Reporting and Using Specified Financial Transaction Information. A representative from Kangwon Land Inc, South Korea’s only casino open to local citizens, said the plan would widen the type of information casinos must gather.
One industry source said every casino could be required to log details for any patron who buys even a single KRW1,000 chip. That is the lowest chip value most casinos offer.
Right now, the law only requires reporting on buy-ins of KRW10 million or more. Kangwon Land already uses its own lower internal limit of KRW3 million.
Current Reporting Thresholds
South Korea set up its transaction reporting system back in 2006, when the threshold was KRW50 million. That number has come down several times since then.
It dropped to KRW30 million in 2008, then KRW20 million in 2010, and finally KRW10 million in 2019. The new proposal would push the threshold far lower than any past change.
A Kangwon Land representative said the plan would treat every visitor like a repeat customer. That means casinos would track visit dates, games played, and every chip or cash transaction.
Those records could be handed over to the Financial Intelligence Unit if requested. This would give the government far more insight into player activity than current rules allow.
The Kangwon Land representative said the amendments could reach the National Assembly in the second half of this year. However, GGRAsia checked the National Assembly’s legislative system and found no such amendments had been submitted yet.
That means the plan is still in early discussion stages. Any changes would still need to pass through the normal legislative process before taking effect.
Impact on Kangwon Land and Communities
Kangwon Land surveyed 1,000 of its patrons about the proposed rules. About 20% said they would stop visiting if all patrons had to hand over personal and financial information regardless of bet size.
The company estimated that patron drop-off alone could reduce its gross gaming revenue by 19.64%. Based on 2025 results, it said the new rules could cut revenue by KRW330 billion.
Local media reported that community groups near the casino expect yearly funding from Kangwon Land’s Abandoned Mine Area Development Fund to fall. Contributions could drop from KRW180 billion to KRW130 billion.
Some local dividend payments are also expected to fall by nearly half. Community groups are now petitioning the Financial Intelligence Unit to drop the proposed changes before they move forward.
