Kangwon Land reports 12.7 percent gain in profitability for 2019

Kangwon Land, the casino and resort company based in Gangwon Province that uniquely allows locals to gamble, reported a full-year profit in 2019 up 12.7 percent.

With sales at KRW1.52 trillion (about US$1.28 billion), which was up 5.7 percent year-on-year, combined with lower costs, net profits for the year came in at KRW335 billion (about US$281 million).

The firm does not offer explanations to accompany the release of financial numbers.

Kangwon Land opened in 2000 as an effort to revitalize a former coal mining community.