Grand Korea Leisure Commits KRW168.8 Billion to 10-Year Gangnam COEX Lease Renewal and Launches K-Medical Wellness Event

Grand Korea Leisure has secured a new 10-year lease for its Seven Luck Casino at Gangnam COEX in Seoul. The contract commits the operator to a total of KRW168.8 billion (US$120 million) through the term ending 4 October 2035. The lease is unrelated to an acquisition plan the company abandoned in February.

Details released in a regulatory filing show rent adjustments will begin on 1 October 2026. The adjustment uses the cumulative monthly fluctuation rate of the National Consumer Price Index from October of the prior year through September of the adjustment year. The index is published annually in October by the National Data Bureau.

Lease Terms Establish Indexed Cost Framework

The renewed agreement replaces the prior lease and ties future payments to official inflation data. GKL stated the deal does not address earlier concerns over excessive rental costs at its existing properties. The operator dropped its Seoul site acquisition plan after determining it failed to meet requirements for a feasibility study.

Medical Tourism Initiative Leverages Annual Visitor Volume

GKL partnered with the Gangnam Medical Tour Center for a K-Medical Wellness Experience Zone at the casino. The event occupies the third-floor special exhibition hall and runs through the end of the month. It introduces medical tourism and wellness products from small and medium-sized enterprises to foreign visitors while aiming to revitalize the local economy.

Activities include skin measurement and consultation, K-beauty experiences, stress tests and massages. President Yoon Doo-hyun noted the scale of the opportunity. “Over 360,000 foreign tourists visit the Gangnam COEX branch annually.” The company explained that through this event it aims to enhance customer satisfaction by providing a differentiated customer experience while also looking forward to discovering collaboration opportunities that can create synergy with the medical industry.

According to Inside Asian Gaming, the paired announcements secure the operator’s primary Seoul location and extend its appeal to the same tourist traffic already drawn to the property. The indexed lease provides payment predictability while the event tests non-gaming programming without requiring new capital outlays.

Reporting: Inside Asian Gaming

Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.