Kangwon Land launches K-HIT feasibility review under new CEO Kim Do-gyun

Kangwon Land Inc has set up a committee to review major strategic initiatives, including the feasibility of its K-HIT resort redevelopment project, with the panel holding its first meeting on 2 October 2026. The committee agreed three priority areas and a work programme that will run until the end of the year as new chief executive Kim Do-gyun pursues organisational reform.

Committee formed to review K-HIT feasibility and organisational reform

The committee’s inaugural meeting on 2 October resolved to focus on three priorities: improvements to organisational structure and personnel systems; assessment and feasibility reviews of major strategic initiatives including K-HIT; and improvements to organisational culture and working practices. Kangwon Land said the establishment of the committee reflected the need for a comprehensive assessment of management issues accumulated during a prolonged period without a permanent CEO.

The panel combines internal representatives and external experts. Internal members include management figures, a labour union representative, and employees drawn from female and younger cohorts. Kangwon Land said it will combine staff feedback with external expertise and examples of good practice from South Korea and overseas to produce practical improvements.

"The review will identify specific areas requiring change and innovation, with the aim of delivering improvements that employees and customers could experience," Kim Do-gyun said in the company release.

No changes to K-HIT’s investment budget, scope or completion timetable were specified in the announcement.

K-HIT redevelopment: stated scope, budget and targets

Kangwon Land has previously described the K-HIT redevelopment programme as involving KRW3.00 trillion (about US$2.23 billion at current rates) in investment, with a target completion date of 2035. The project’s stated aims include transforming the property into a global-standard integrated resort, attracting 13 million visitors annually and generating KRW3.5 trillion in yearly revenue.

The committee will assess the feasibility of these targets as part of its mandate through to year-end. The company did not provide new figures or amend the previously stated timetable in the 2 October release.

New CEO Kim Do-gyun’s priorities and context

Kim Do-gyun took office in September 2026 and at his inauguration pledged to accelerate the K-HIT programme and tighten the resort’s links with nearby tourism assets, including surrounding forests and former coal-mining sites. His appointment follows a succession of interim chief executives at Kangwon Land prior to his arrival.

The company explicitly linked the committee to the leadership gap that preceded Kim’s appointment, saying the review would address accumulated management matters and help set a clearer strategic path under the new CEO.

Operational notes: local market, casino licence and timelines

Kangwon Land operates the Kangwon Land resort in Jeongseon, Gangwon province. The resort runs South Korea’s only casino permitted to offer gambling to local residents. A second casino venue at the complex had been scheduled previously to open in the first half of 2028; the 2 October statement did not confirm any change to that schedule.

The company said the review will run to the end of the year and will include assessments of major strategic initiatives beyond K-HIT where relevant. The committee’s remit combines structural, people and culture reviews alongside project feasibility work.

Board funding decision for regional transition support

At a separate board meeting on 30 September 2026, Kangwon Land approved KRW3.7 billion in funding to support business relocation and growth in areas transitioning away from coal mining and to aid the wider Gangwon region. The board allocated KRW3.0 billion to business relocation support and KRW700 million to support small- and medium-sized enterprises.

The KRW3.7 billion funding approval was disclosed in the company’s update ahead of the committee announcement and sits alongside Kim’s stated intent to better integrate the resort with local tourism assets.

Implications for investors, partners and suppliers

For potential investors and project partners, the committee represents a formal, time-bound review that could result in changes to governance, personnel systems or project execution plans depending on its findings. The absence of any immediate change to the K-HIT budget, scope or 2035 completion target means current assumptions on project scale and timing remain the company’s stated position until the committee reports.

Operators, contractors and vendors involved in resort development should expect the review to generate requests for updated feasibility studies, supply-chain assessments and clearer governance arrangements if the committee recommends adjusted oversight. Kangwon Land has signalled it will take external practices into account, including international examples, when formulating recommendations.

What the committee will produce and next steps

The company set a work programme running to year-end. Outputs were described generally as practical improvements to organisational structure, personnel systems and working practices, plus feasibility assessments of strategic initiatives such as K-HIT. Kangwon Land has not published a timeline for public reporting of the committee’s conclusions; management statements indicate findings will be used to prioritise specific changes that employees and customers will notice.

Stakeholders should watch for any subsequent disclosures that amend the KRW3.00 trillion investment figure, the 2035 completion target, or the previously stated visitor and revenue goals: KRW3.00 trillion investment, 13 million annual visitors, and KRW3.5 trillion in annual revenue.

Kangwon Land’s resort sits within a broader regional development context, and the company’s KRW3.7 billion board-approved support package for the Gangwon transition signals continued engagement with local economic shifts. Those moves form part of the same management reset that the committee is charged with reviewing.

For ongoing coverage of regional resort projects and regulatory developments, see our reporting in the news and regulation sections.