Kangwon Land was established in June 1998 with the aim of fostering the tourism industry to
revive the economy of abandoned mines. Although it was launched with ambition,
the reality was different from what was expected. In fact, proper growth is still difficult due to casino-related
regulations. Although it was launched as the Tourism
Promotion Act, it is facing a reality that there is no tourism
and is only seen as a speculative business.
Gangwon Land's positive impact on the abandoned mine area is an increase in
local tax revenues to the local community. From the perspective of local
governments with low financial independence, local tax revenues can steadily
promote necessary projects and support the operation of municipal and county
governments in abandoned mine areas, including projects to improve residents'
welfare. In addition, direct and indirect economic ripple effects occur due to the
employment of local residents and the increase in casino users. It is also playing a
role in revitalizing local commercial areas by using Gangwon Land and consuming
tourism and accommodation in the surrounding areas.
The task is to further boost these economic ripple effects.