Korea’s Minister of Trade, Industry and Resources (MOTIR) has called on executives and employees of public institutions under its purview to prove their worth or risk closure.
According to ChosunBiz, industry Minister Kim Jung-kwan noted that “Public institutions are no longer simple policy-executing organizations […] they must become drivers of innovation that the public can feel”.
The executive noted that if the MOTIR institutions cannot prove themselves “with results that meet the public’s expectations, the very existence of public institutions could disappear”.
The statement was especially focused on eliminating copied tasks, improving responsibility, and revitalizing local economies, alongside implementing strict discipline for executives and employees of the institutions.
In attendance at the meeting were representatives of public institutions in the resources sector, including Kangwon Land, Inc.
Kangwon Land is the only casino operator in Korea allowed to accept local gamblers.
In September of last year, the company secured government approval to construct a second casino facility, adding 5,747 square meters of new gaming space. The expansion includes 50 new gaming tables and 250 machines, with operations on the new floor scheduled to begin once construction is completed in 2027.
The group recently benefited from regulatory easing measures that took effect in 2025. These include raising the maximum betting limit to KRW3 million ($2,295), expanding mass gaming space by 1,433 square metres and allowing entry for resident permit holders.
In a report on its 2024 Value-up Plan targets, the company in late November 2025 indicated that it had achieved an 86.7 percent compliance rate with key governance indicators, with full compliance expected by 2026.
Completed actions include the rollout of an electronic voting system, enhanced dividend disclosure procedures and amendments to improve predictability of cash dividends. Additional measures planned for 2026 include earlier notice of shareholder meeting convocations and adoption of a CEO succession policy.
