A plan to permit foreigners who invest over 500 million dollars (600 million Won) to establish casinos within Korea is being reviewed. 
The government decided upon a ‘Tourism Promotion Amendment’ containing the above matters and announced it will be submitted at the next regular meeting of the National Assembly, during a Cabinet meeting held on Nov. 11, in Cheongwadae(Blue House) under the supervision of President Roh, Moo-hyun. 
According to the amendment, foreign investors who invest over 500 million dollars in the tourist industry of areas designated by the executive order will be permitted to run casinos. 
In relation with this, an official of the Ministry of Culture & Tourism said, “Jeju-do and Incheon are currently specified as free international cities and free economic zones by special law. Foreign investors will be able to open casinos starting next year July, at the earliest.” 
Source : Choson Ilbo, November 12, 2003