If you want to set up a gaming or gambling company in Korea, you must comply with the strict provisions of the laws here. In order to navigate them, you can rely on our company formation agents in Korea, who can also help you register a company and apply for the appropriate business license.
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Business registration to launch a gaming company in Korea
The most important aspect related to becoming a gaming operator in Korea is that you incorporate a local entity here. The private limited liability company is suitable for both land-based and online gambling facilities. Our local specialists can represent you during the setup procedure and can also assist with the preparation of the documents for obtaining the appropriate license.
Requirements to obtain a gaming license in Korea
After registering the Korean business, it is necessary to apply for a gambling license with the National Gambling Control Commission (NGCC). The following requirements must be in place to obtain it:
- the company must meet specific software and technical certification standards, as the program used is to be approved by relevant authorities for casinos, lotteries, sports betting;
- the gaming company must also ensure correct data protection and privacy of clients;
- the enterprise will also be required to adhere to server location requisites;
- the casino or any other type of gambling facility must set in place Anti-Money Laundering and Know-Your-Client procedures.
Another important condition is for such operators to comply with financial and audit reporting standards, as well as to keep accurate accounting records. From these points of view, clients can work with our accountants in Korea who can provide tailored services.
Assessment of gaming companies in Korea
In order to issue a license, the National Gambling Control Commission will assess the soundness of the Korean gambling operator upon filing for the desired business permit. The following aspects will be reviewed:
- the implementation of an electronic payment system for clients;
- the display of warnings in the facility or on the website about the dangers of gambling;
- the allocation of a part of the budget towards responsible gambling actions;
- the training of staff for the operations of the facility;
- the improvement of leisure activities for clients by creating various spaces;
- the monitorization of illegal gambling.
Please note that these are some of the aspects to consider when opening a gaming company. Our Korean company registration consultants can offer additional information about the laws applicable to this sector.
Korean legislation on gambling
The most important thing to consider, if you want to open a gambling business in South Korea, is that Korean citizens are strictly forbidden to play. As such, your activities will be mainly directed to foreign clients.
With respect to the laws to abide by in this sector, here are some of the main rules and laws:
- the National Gambling Control Act, which covers all gambling activities;
- the Tourism Promotion Law, which covers the licensing of foreign casinos operating in Korea;
- the Lottery Tickets and Lottery Fund Act, which covers lottery operations;
- the National Sports Promotion Law, which provides for legal sports betting.
Also, apart from the NGCC, there are other authorities that supervise and issue other types of licenses for such activities, among which the Ministry of Culture, Sports and Tourism which regulates casinos in Korea.
The Korean casino sector
According to the latest data:
- At the level of 2024, the casino industry generated around USD 2.30 billion in gross revenue;
- This represented a 18.3% increase compared to 2023;
- Korea had 17 foreign-owned casinos which registered a 42.4% growth in visitor numbers in 2024.
If you want to start a gaming or gambling company in Korea, do not hesitate to contact our agents for support.