Japan clouds Korea’s IR-hub aspirations

paradise city
Paradise City

South Korea wants to turn the area near Incheon International Airport into a version of Manila’s Entertainment City, but its vision is at risk from competition from Japan. In December, the Incheon Metropolitan Government reaffirmed its optimism that the Yeongjong-do Integrated Resort Cluster Project will become a “hub of culture and tourism industry in North Asia,” with the potential to create some 20,000 jobs, generating economic benefits of about $1.68 billion annually.  However, at the G2E @ the Philippines trade show in Manila in late 2019, Nicholas Kim, project director of the Incheon Free Economic Zone, observed that before Japan opened the door to IRs, global operators lined up by the dozens in response to requests for proposals in Incheon. Now, he said, the IFEZ has to wait days or weeks for one or two expressions of interest.  Kim said South Korea has about 65 percent of an anticipated $10 billion in...

Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.