China and South Korea partner against cross-border gambling
Wang Xiaohong, China's Minister of Public Security, has stated that his country is willing to work with South Korea on a number of anti-crime projects, with a special...
Paradise Co. added to South Korea’s watchlist
Paradise Co., the biggest casino in South Korea that is exclusively open to foreigners, has been added to a list of major corporations that the country’s competition regulator will now be keeping a closer eye on.
Other entertainment-related businesses are also listed here, such as Sono International Co., a hotel and travel company, and Hybe Corporation, a talent agency and record label.
Any business group with assets exceeding five trillion won, or around 3.69 billion US dollars, is categorized as a “large corporation” in South Korea. These large enterprises are required to provide extensive information about their ownership structure, transactions with their affiliates, and key details about other related businesses.
With the latest additions, this list now has 88 conglomerates with a combined total of almost 3,300 affiliates. This year’s list has more companies on it than the previous owing to the significant growth in leisure, entertainment, and tourism markets. This expansion can be linked to the global appeal of Korean culture as well as the revival in consumer spending following the COVID-19 outbreak.
South Korea cracks down on pseudo-casino operations
New regulations have been implemented by the South Korean government in an effort to combat "pseudo-casino operations."This is a reference to specific bars and...
