South Korean securities company KB Securities recently commented that if South Korea's visa exemption policy for tourists from mainland China continues to be implemented or even "extended indefinitely," the most direct beneficiaries may be the local casinos dedicated to foreigners. This news was disclosed by "Chosun Biz" on July 7, quickly attracting attention in the gambling and tourism industries.
From March 2025, the South Korean Ministry of Foreign Affairs will initiate a visa exemption pilot for Chinese group tourists, allowing entry without a visa for travel groups organized by designated travel agencies. Although it is called a "temporary measure," there is no clear end date set yet. The market generally interprets that this policy is expected to become normalized, thereby driving a surge in travel and consumption to South Korea.
KB Securities researcher Lee Sun-hwa pointed out that the recovery of gambling revenues in Macau shows that China's economy and willingness to consume are rebounding, with regulations also subtly relaxing. "The Korean casino industry might benefit from this," she said.
Renowned Korean casino operator Grand Korea Leisure (GKL) reported that its sales in the first half of 2025 increased by 9.0% year-on-year, reaching 209.86 billion Korean won (approximately 1.14 billion yuan). GKL currently operates three "Seven Luck" casinos in Seoul and Busan, exclusively for foreigners, with Chinese tourists being one of their main customer groups.
It is worth noting that although there are 17 casinos across South Korea, only the "Gangwon Land" in Gangwon Province is open to local residents, with the rest restricted to foreign tourists. This gives Chinese visitors a significant position in the Korean casino industry.
Despite China's long-term crackdown on "cross-border gambling" and warnings to its citizens to avoid participating in overseas gambling activities, South Korea, with its attractions in dining, entertainment, and shopping, remains a popular destination for Chinese tourists. If the visa exemption policy becomes normalized, it is expected to further boost the tourism recovery and might also help the casino industry emerge from its slump.
However, some industry insiders warn that there might be risks hidden behind the policy benefits. In the context of stricter global gambling regulations, if South Korea continues to relax visa restrictions for Chinese tourists, could it trigger disputes over cross-border gambling regulation? Whether the short-term economic boost can offset potential social costs remains to be seen.