Kangwon Land sets KRW3.00tn (US$2.26bn) revenue target in strategic review
Board approved 2027–2031 targets and refocused plan toward 2035 under new CEO
Key Takeaways
- Kangwon Land Inc set a revenue target of KRW3.00 trillion (US$2.26 billion) in a strategic review announced on 27 October 2026.
- The board approved management targets for 2027–2031 at a meeting held the day before, under new CEO Kim Do-kyun.
- The plan restructures the 2030 framework and extends the horizon to 2035, without a specific date to reach the revenue target.
- K-HIT remains defined as a KRW3.00 trillion investment to 2035 aiming for 13 million visitors and KRW3.50 trillion in annual revenue, though the company did not state if ambitions changed.
- Kangwon Land operates the only South Korean casino authorised for locals at its Jeongseon resort and had planned a second casino hall for H1 2028.
Kangwon Land Inc approved a revenue target of KRW3.00 trillion (US$2.26 billion) in a corporate strategy review, the company said in a statement on Tuesday 27 October 2026. The board ratified medium- and long-term management targets for 2027–2031 at a meeting held the day before, under new CEO Kim Do-kyun.
Scope of the new roadmap
The plan restructures the strategic framework previously set for 2030 and aligns it with an extended horizon to 2035. The statement describes a "comprehensive review" of the company's vision, core values, management targets and strategic initiatives. The company did not set a specific deadline to reach the KRW3.00 billon revenue target nor did it explain the precise relationship between that target and the prior resort redevelopment programme known as K-HIT.
Relationship with the K-HIT programme
The K-HIT programme was previously presented as an investment plan of KRW3.00 trillion until 2035, with the goal of attracting 13 million annual visitors and generating KRW3.50 trillion in annual revenue. Tuesday's statement did not indicate whether that previous ambition had been modified. GGRAsia reported in early October 2026 that Kangwon Land Inc would review the viability of the K-HIT project under Kim Do-kyun; that review is part of the examination of several larger strategic initiatives.
Assets and operations
Kangwon Land Inc operates the Kangwon Land resort complex in Jeongseon, in the mountainous Gangwon province of South Korea; the resort houses the country's only casino authorised to offer gambling to local residents. A second casino hall at the complex had been scheduled previously to open in the first half of 2028.
Strategic priorities
The company identified four strategic priorities: strengthen competitiveness in experiential tourism; develop an "entertainment- and wellness-oriented casino"; support economic activity in areas transitioning from coal mining; and enhance corporate value to sustain growth. The statement said the new framework aims to balance profitability with public responsibilities and focus measures on delivering business results.
I am Gonzalo Marín, Operations Correspondent for the sector.
Frequently Asked Questions
What revenue target did Kangwon Land approve and when was it announced?
Kangwon Land approved a revenue target of KRW3.00 trillion (US$2.26 billion), announced in a statement on Tuesday 27 October 2026; the board approved the 2027–2031 targets at a meeting the day before.
How does this target relate to the K-HIT programme?
The statement did not clarify the relationship between the new KRW3.00 trillion revenue target and the K-HIT programme. K-HIT was presented earlier as a KRW3.00 trillion investment to 2035 aiming for 13 million visitors and KRW3.50 trillion in annual revenue.
What operational changes were announced for the Jeongseon resort?
The statement confirmed Kangwon Land operates the Kangwon Land resort in Jeongseon, Gangwon, and noted a second casino hall at the complex had been scheduled to open in the first half of 2028; no further operational capacity or investment details were provided.
What strategic priorities did the company define?
Kangwon Land listed four priorities: boost competitiveness in experiential tourism; develop an entertainment- and wellness-focused casino; support areas transitioning from coal mining; and improve corporate value to sustain growth, aiming to balance profitability with public responsibilities.
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About the author
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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