Landing Jeju casino theft becomes major media story

Ocean's Eleven

It may not precisely be Ocean’s Eleven, but the theft from the casino at Landing International Development’s Jeju Shinhwa World has nevertheless captured the imagination of both the Korean domestic and the international news media.

The story emerged in modest enough fashion, with Landing issuing a filing to the Hong Kong Stock Exchange, but the drama that the filing hinted at grew into a larger media storm as the days passed.

In the original filing, Landing noted that the missing KRW14.6 billion (US$13.3 million) was believed to have been taken by the employee in charge, who had since gone missing. In the meantime it has emerged that the executive in question is a Malaysian woman who didn’t return to work when the New Year holiday ended.

In good Hollywood fashion, investigators appear to be stumped about exactly how she pulled off the grab. The cash itself weighed 280 kilograms, far too heavy for one person to carry, and the security camera records that may have provided some answers have apparently been wiped.

It seems to have been an extremely well-planned operation by someone entirely in command of the security measures, and timed for the holidays so as to provide her days before the theft had even been discovered.

In the longer run, however, the dramatic nature of the event is likely to work against the thief and her presumed accomplices, as so much media attention cannot be helpful for escape. On the other hand, since her identity has still not been revealed to the public, perhaps that won’t hinder her so greatly.

Landing International, too, will no doubt be facing some uncomfortable questions about how they go about choosing their employees who manage millions in cash, apparently without effective oversight.

Related Articles

Landing appoints non-exec. director to oversee theme parks/hotels

Landing International said it has appointed Huang Wei as a non-executive director to oversee the group's theme park and hotel operations.

Jeju Dream Tower casino transfer get official approval

Hong Kong-listed Landing International has been given the official go-ahead to transfer its casino license from an existing hotel to its new property on Jeju Island, South Korea.

Jeju casino sales fall 64 percent in 2020

Jeju’s foreigner-only casinos have seen a sharp 64 percent drop in sales, and a decrease of employees to the tune of 20 percent as a result of the coronavirus pandemic. 

Landing 2020 revenue down, but locals fuel H2 recovery

Landing International said its foreigner-only integrated resort in South Korea generated positive revenue in the second half of the year after it switched its focus to marketing to locals.
landing international, robbery, jeju

Landing now expects to recover most Jeju robbery cash

Landing International Development has turned optimistic on its prospects for recovering most of the cash that it lost in the bold robbery carried out in Jeju over the New Year holiday period.

Landing shuffles independent board director post

The board of Landing International has announced that Lin Liangyong has been appointed as a Head of Internal Audit of the Company and he has ceased to act as an independent non-executive director; and that Du Peng has been appointed as an independent non-executive director.

Landing International issues profit warning

Landing International has issued a profit warning to the effect that the firm expects “to record a slight decrease in consolidated revenue of approximately 3 percent and a decrease of approximately 10 percent to 20 percent in consolidated net loss

Landing Casino in Jeju fined for inadequate worker protections

It has emerged in the course of local media scrutiny following the major theft that the Landing Casino in Jeju was recently fined by the authorities for policies that offered inadequate protections for workers over abuse from customers, etc.

Jeju Shinhwa World shakes up its leadership

The Korean media reports that much of the board-level leadership of Jeju Shinhwa World has recently been changed, though the company denies that this has any connection with the recent major theft of funds.

Police make arrest in Jeju casino heist

South Korean police have arrested one of three subjects sought in connection with the theft of about $13.3 million from Landing International's Jeju casino. The unidentified man was described as an employee of an agent company that attracts and manages casino customers.