Kangwon Land said it has appointed Lee Sam-Geol, a former vice minister in the Ministry of the Interior and Safety as its new CEO.
The posting is for a three-year term. Kangwon Land’s CEO is appointed by the president under the country’s laws governing the management of public institutions. The company operates the only casino in South Korea where locals are allowed to gamble.
In recent years, the company has been plagued by accusations of nepotism in its hiring policies. Former CEO Choi Hung-jib was sentenced to three-years in jail in 2019 for the practice.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.