Grand Korea Leisure (GKL) has approved an interim cash dividend and committed to a long-term lease renewal for its flagship Gangnam Coex casino. The twin announcements reinforce shareholder returns while securing the future of one of the company's key operating venues.
The board approved an interim dividend of KRW60 per common share, amounting to a total payout of KRW3.71bn. Shareholders recorded on August 27 will be eligible for the distribution, with payments scheduled to begin on September 10.
Alongside the dividend announcement, GKL also approved a KRW168.8bn investment tied to the renewal of the lease for its Seven Luck Gangnam Coex casino. The renewed agreement will secure operating rights at the venue through October 4 2035, providing long-term stability for one of the company's largest foreigner-only casino properties.
According to the filing, the investment represents the total lease payments over the contract period, excluding VAT, maintenance fees and taxes. Rental costs may be adjusted during the lease based on changes to South Korea's Consumer Price Index, with the first adjustment scheduled for October 2026.
The lease renewal follows GKL's recent efforts to broaden the appeal of its Gangnam Coex property beyond gaming.
How is GKL broadening the visitor experience?
Earlier this month, the state-run operator partnered with the Gangnam Medical Tour Center to launch the K-Medical Wellness Experience Zone inside the casino.
The initiative offers international visitors wellness experiences including skin analysis, K-beauty consultations, stress assessments and massage services while promoting products from local businesses. GKL said the project is designed to connect its annual flow of more than 360,000 overseas visitors with Gangnam's growing medical tourism sector.
The latest announcements highlight GKL's dual focus on strengthening its core casino operations while expanding partnerships that support broader tourism development.
By securing a long-term operating base in Seoul and continuing to diversify the visitor experience, the operator is positioning its flagship property to remain a central part of South Korea's foreigner-only casino market over the coming decade.
The dividend will be paid on September 10, with shareholders on record as of August 27 eligible to receive the payment
