Kangwon Land Inc Extends Relocation Incentives to Support Ex-Coal Mining Communities in Gangwon Province
SCCG Take — The incentives show how operators with exclusive local licenses can channel resources into host community recovery to sustain long-term regulatory and social support.
Kangwon Land Inc is offering up to KRW1 billion (US$755,724) each to a maximum of three companies to relocate operations to former coal-mining communities in Gangwon Province. The casino operator launched the “2026 Coal Industry Transition Region Business Relocation Project” to support regional economic diversification and job creation. Applications remain open until October 30.
Kangwon Land operates the only casino in South Korea permitted to serve local players at its resort in Jeongseon county. The four targeted municipalities are Jeongseon, Taebaek, Yeongwol and Samcheok. The initiative is implemented with Kangwon National University, the Korea Foundation for Cooperation of Large and Small Business, Rural Affairs, and the four local governments.
Program Parameters
Approximately 3,500 companies that received support under a university-based start-up programme are eligible to apply. Three companies will be selected in December following competitive evaluation. Selected firms must relocate or establish at least one headquarters or factory in one of the designated municipalities within three years and maintain operations there for at least five years.
Successful applicants receive the relocation assistance plus access to business development programmes, relocation subsidies and tax incentives. The project reflects Kangwon Land Inc’s historical ties to the former coal-mining region.
Prior Results and Leadership Perspective
The latest initiative follows the “Next Unicorn Project,” under which 12 companies completed relocation while another 10 are in process. That programme has generated 116 jobs to date. Kangwon Land chief executive Kim Do-gyun said the latest initiative was intended to help companies grow while creating new economic opportunities in communities facing population decline, as reported by GGRAsia.
Reporting: GGRAsia
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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