Kangwon Land shareholders have approved Kim Do-kyun, a former commander of the Republic of Korea Army Capital Defense Command, as the operator’s next CEO, moving the casino group toward ending a leadership vacancy that has lasted more than two years.
The appointment was approved at Kangwon Land’s 34th extraordinary general meeting at the High1 Palace Hotel on August 26. The operator’s exchange filing records the meeting date and a proposal to amend its articles of incorporation.
Kim still requires formal appointment by South Korea’s President following a recommendation from the Minister of Trade, Industry and Energy. His term will run for three years from the appointment date. Kangwon Land has operated under acting leadership since former CEO Lee Sam-geol left in December 2023, making the vacancy the longest in the operator’s history.
Kim previously served in a series of defense and national-security positions, including Director General for North Korea Policy at the Ministry of National Defense and Secretary for National Defense Reform in the Office of National Security, before commanding the Capital Defense Command.
Shareholders also elected Yoo Jeong-bae, a former Korea Coal Corporation CEO, as executive vice president and Jang Kyung-yeol, a former head of the National Intelligence Service’s Gangwon branch, as a standing audit committee member.
The VP serves a two-year term after appointment by the operator’s CEO, while the standing audit committee member is appointed by the President following a government recommendation.
The meeting also approved amendments to Kangwon Land’s articles of incorporation covering electronic shareholder meetings, separate elections for audit committee members, voting rules for audit committee appointments and dismissals and the treatment of treasury shares.
The changes follow revisions to South Korea’s Commercial Act, including governance measures affecting electronic meetings and treasury stock.
The leadership change comes while Kangwon Land is carrying out a multi-year expansion and renovation program. Its K-HIT plan includes a second casino facility scheduled to open in early 2028, with 50 additional tables and 250 gaming machines planned. The operator is also renovating hotel and condominium accommodation.
Operational conditions have been mixed. Kangwon Land reported Q2 2026 revenue of KRW345.6bn ($243m), down 4.2% year-on-year, while net income increased 59.8% to KRW100.3bn. The quarter was affected by lower casino visitation and disruption from hotel renovation work.
Kangwon Land has also been expanding its responsible gambling work. Earlier this month, the operator hosted an AI and data psychology symposium examining predictive approaches to identifying gambling-related harm, alongside work by the Kangwon Land Addiction Care Center.
Kangwon Land operates South Korea’s only casino where South Korean nationals are permitted to gamble, giving the operator a distinct position within the country’s otherwise foreigner-focused casino market
