Jeju Governor Won Hee-ryong told local lawmakers that he would push for a revision of the game tax and establish a Singapore-style casino monitoring body, Yonhap News Agency in South Korea reported.
Wen said during a parliamentary audit on Thursday that his goal is to improve transparency in the gambling industry and boost the local economy.
He said he was preparing to launch a casino regulator modeled on the Singapore Casino Regulatory Authority (CRA) as more and more developers tested opportunities for gambling resorts on Jeju Island (pictured).
In Singapore, the CRA is responsible for licensing and regulation of casino operations. It also issues or approves a code of practice relating to casino operations and oversees that operation, the person responsible for that operation, and in-casino gaming conduct.
“Before we start discussing whether to open or abolish new casinos, we must first establish an effective regulatory and taxation system,” the coalition quoted Wen as saying.
There are currently 17 casinos in Korea, but Korean nationals can only gamble at Kangwon Land, 150 km (93 miles) southeast of Seoul. Eight of the 16 foreigner-only casinos are on Jeju Island.
Won, who took office in July, has repeatedly expressed concerns about more casinos opening on Jeju Island. He has repeatedly vowed to tighten regulations and raised issues with building licenses issued by his predecessor.
The Jeju governor has also expressed resistance to the construction of a casino resort in Genting Singapore. Genting is building a $2.2 billion casino resort in Jeju in partnership with Chinese real estate developer Landing International Development.
Media reports said the groundbreaking ceremony was postponed after Won ordered the project to be reviewed for exceeding the agreed planning permission. 프라그마틱 슬롯 사이트
Won’s remarks came after the South Korean government announced in August that it plans to reduce regulatory barriers facing developers of integrated resorts that include gambling facilities.