Nam Han-gyu, head of the Management Support Division at Kangwon Land, took office as the acting president of Kangwon Land, replacing former acting president Choi Cheol-gyu on March 4.
On March 3, former Acting President Choi give words of encouragement to Kangwon Land executives and department heads for their efforts and exchanged farewells.
Acting President Choi said, “I extend thanks to executives and staffers who have devoted themselves to making Kangwon Land a global integrated resort, and I will consider all the moments we’ve been running together endless as a great honor to my life.”
New Acting President Nam said, “All staffers will have to fulfill their intrinsic responsibilities without interruption and do their utmost to ensure organizational continuity, field safety and customer services.”
“I will keep on building foundation for the so-called K-HIT Project, designed to achieve regulatory reform of casino and leap into a global integrated resort,” he added.
Nam graduated from high school in Taebaek and, later, Kangwon National University Law College.
He obtained a master’s degree from Chung-Ang University Graduate School of Public Administration.
Nam is evaluated to be well versed in diverse sectors, such as planning and coordination, auditing, general affairs and accounting.
He held positions such as being in charge of the coal industry at the Ministry of Trade, Industry and Resources, Inspector’s Office and Regulatory Reform & Legal Affairs’ Office.
He also worked with jobs related to a fund designed to ensure economic self-sufficiency of the mining reclamation areas and develop them.
New Acting President Nam Han-gyu of Kangwon Land speaks at the 28th Regular Shareholders’ Meeting at High1 Grand Hotel on March 31. (Photos: Kangwon Land)
Kangwon Land Holds 28th General Meeting
Kangwon Land held the 28th Regular Shareholders’ Meeting at High1 Grand Hotel and approved three proposals, including one on the 28th term financial statement.
As the first proposal on the 28th term financial statement was approved, it finalized 1,476.7 billion won in sales, 318.2 billion in net profit and 950 won in dividend per share.
Kangwon Land set dividends at 188,3 billion won, and the dividend payout ratio at 59.2 percent, up 7.9 percentage points over last year’s.
If the share repurchase amount for 2025 was included, the total shareholder return would stand at 199.3 billion won, raising the total shareholder payout ratio to 62.6 percent.
In accordance with a plan to raise corporate value, announced as the first public entity in 2024, Kangwon Land achieved its goal of raising the total shareholder payout ratio to 60 percent for the second straight year.
Kangwon Land implemented a share buyback plan worth 80 billion from 2024 until February 2026, reducing shares outstanding equivalent to 2.1 percent of the issued shares to raise the value per share.
Kangwon Land Conducts Drive to Put into Practice Responsible Management
Kangwon Land said on March 18 the corporation conducted a campaign to build a sound culture and prevent behavioral addiction at High1 Grand Hotel.
Executives and staffers with Kangwon Land offered to customers an opportunity to check their conditions by themselves and build a sound gaming culture.
Kim Won-guk, acting head of the Casino Business Division at Kangwon Land, said, “Kangwon Land is committed to a sound culture and preventing behavioral addiction, and we will do our utmost to carry out social responsibility as a public entity of the gaming industry through diverse programs designed to prevent over-immersion, such as entry day limit and cooling time system and return high-stakes gambling addicts to pre-gambling conditions.”
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