Kangwon Land offers up to KRW1,000,000,000 to relocating companies
Program accepts applications until 30 October and will select three beneficiaries in December
Key Takeaways
- Kangwon Land Inc will offer up to KRW1 000 000 000 (US$755,724) to each of up to three companies that relocate to former-mining municipalities in Gangwon.
- Applications for the “2026 Coal Industry Transition Region Business Relocation Project” are accepted until 30 October 2026; final selection is expected in December 2026.
- Beneficiaries must establish a headquarters or factory in Jeongseon, Taebaek, Yeongwol or Samcheok within three years and operate there for at least five years.
- Around 3,500 companies supported by a university-linked start-up programme are eligible; three will be chosen after a competitive process in December.
Kangwon Land Inc will offer up to KRW1 000 000 000 (US$755,724) to each of up to three companies that agree to move operations to former-mining municipalities in Gangwon province, the company announced on 22 October 2026. The call for its “2026 Coal Industry Transition Region Business Relocation Project” is open until 30 October; final selection of three companies is expected in December.
Scope and target municipalities
The programme aims to attract new businesses to any of the four municipalities affected by the decline of the coal industry and population loss: Jeongseon, Taebaek, Yeongwol and Samcheok. Kangwon Land Inc operates Kangwon Land resort in Jeongseon County, a complex that includes the only casino in South Korea authorised to serve domestic players. Kangwon Land resort is linked to the initiative because of its historical ties to the mining region.
Support, conditions and eligibility
Each beneficiary will be offered up to KRW1 000 000 000 in relocation assistance, access to business development programmes, relocation grants and tax incentives. Participating companies must relocate or establish at least a headquarters or a factory in one of the four municipalities within three years and operate there for at least five years.
Approximately 3,500 companies that have already received support under a university-linked start-up programme are eligible to apply, the press release said. Three companies will be selected after a competitive process in December.
Cooperation and background
The initiative is implemented in cooperation with Kangwon National University, the Korea Foundation for Cooperation of Large and Small Business, Rural Affairs and the four local governments. Kangwon Land Inc said the project follows its previous “Next Unicorn Project”, in which 12 companies completed relocation to former-mining communities and another 10 are in progress; that programme has generated 116 jobs to date. Kim Do-gyun, chief executive of Kangwon Land, said the initiative seeks to help firms grow and create new economic opportunities in communities experiencing population decline.
Frequently Asked Questions
How much does Kangwon Land offer each relocating company?
Kangwon Land offers up to KRW1 000 000 000 per company, equivalent to US$755,724, according to the 22 October 2026 announcement. The package is relocation assistance alongside business development programmes, relocation grants and tax incentives.
Which municipalities can host beneficiary companies?
Beneficiaries must relocate to or establish at least a headquarters or a factory in one of four designated municipalities: Jeongseon, Taebaek, Yeongwol or Samcheok. These are the locations named in the coal industry transition project.
What is the programme timeline?
The call for applications closed on 30 October 2026 and the three beneficiary companies will be selected in December 2026 after a competitive evaluation. Selected firms have up to three years to complete relocation and must operate locally for a minimum of five years.
Who is eligible to apply to the relocation programme?
About 3,500 companies that previously received support under a university-linked start-up programme are eligible to apply, according to Kangwon Land’s press release.
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Gonzalo Marín
Industry Deals Correspondent
Gonzalo Marín covers the corporate deal flow of gambling — operator strategy, M&A, regulated-market entries, and product launches. The reports open with the transaction, cite companies, valuations, and jurisdictions exactly as released, and keep the announcement apart from its actual effect. When a Latin American operator raises capital or a European brand lands in the region, Gonzalo Marín reports who signs, for how much, and on what terms.
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