South Korea may postpone plans to revise casino regulations until the end of 2026, as authorities continue consultations with operators. The Ministry of Culture, Sports, and Tourism had previously aimed to amend the Tourism Promotion Act in September.
The project proposes raising the maximum contribution rate to the Tourism Promotion and Development Fund from 10% to 15% of the annual gross gaming revenue, as well as introducing a licensing renewal system every five years. According to MTN and GGRAsia sources, the timeline might shift due to the traditional Korean harvest, thanksgiving, and ancestral remembrance festival, Chuseok, which falls on September 24-27 this year. An additional delay could be the annual audit of government agencies in the National Assembly from October 6-27.
The ministry stated it is continuing meetings with individual operators, discussing transitional conditions with them. The agency considers the reform necessary to update a system that has remained largely unchanged for about 30 years. Industry representatives, including the Korea Casino Association, are predictably opposing the reform, citing risks to investment and expansion.