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In the year 2000, gaming income for Kangwon Land was KRW78,676,000 with income for all "foreign only" casinos coming in at KRW303,045,000. By 2011 these numbers had changed substantially with Kangwon Land pulling in US$1,078,987,000 and all other casinos combined posting gross gaming income of US$1,027,299,000. The biggest casino in the complete nation is Kangwon Land Casino & Hotel which is located in Sabuk-eup, once the biggest city engaged in coal mining.
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In addition, a foreign investor need to commit a minimum amount of US$500 million into the proposed development project in order to qualify for a casino operator license. Most foreign investors have set up operations in Korea in the type of joint ventures. Other than LOCZ Korea, joint ventures consist of these involving Genting Singapore PLC. In recent years, the Korean regulatory atmosphere has turn into increasingly aimed at attracting foreign investors and developers to invest into Korea and enhance Korea’s tourism business. The Korean government offers a assortment of tax added benefits for foreign firms who wish to invest and develop these cost-free financial zones in addition to relaxed regulatory measures.
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