Tourism industry leaders from both public and private sectors listen to a keynote speech during The Korea Times Global Business Club held under the theme of "Korean-style Integrated Resorts and Future Strategic Directions" at the Korea Press Center in central Seoul, Wednesday. Korea Times photo by Shim Hyun-chul

Integrated resorts are becoming a popular trend in tourism across Asia and beyond. To stay competitive on the global stage, tourism industry leaders recommend that Korea develop its own unique style of integrated resorts, blending cultural content with resort facilities to position the country to succeed in the growing international market.

Over 100 tourism and travel industry leaders, academics and professionals in both the public and private sectors discussed the future of Korea's integrated resort industry at the Korea Times' Global Business Club in Seoul, Wednesday.

Under the title “Korean-style Integrated Resorts and Future Strategic Directions,” the event centered on lessons learned from neighboring countries regarding their operations and the challenges that lie ahead for Korean stakeholders amid growing competition in Asia.

An integrated resort is a multifaceted tourist facility that combines a hotel, casino, shopping center, fine dining, and facilities for conventions and entertainment, catering to a variety of visitor needs and preferences.

“We prepared this event to initiate discourse with the public on integrated resorts and elevate their understanding of the issue,” The Korea Times President-Publisher Oh Young-jin said in his opening speech.

He explained that the event aims to facilitate learning from the industry's trials and errors to create an effective Korean-style model of integrated resorts.

Reflecting the significant interest in the theme, the event was attended by numerous industry leaders from across the country.

Inspire Entertainment Resort President Chen Si delivers a congratulatory speech during The Korea Times Global Business Club in Seoul, Wednesday. Korea Times photo by Shim Hyun-chul

“The integrated resort industry is not only about entertainment and hospitality; it's about creating sustainable growth, fostering international collaboration, and providing novel, unparalleled experiences to visitors from all around the world,” Chen Si, president of the Inspire Entertainment Resort, said during his congratulatory speech.

“I believe that the Korean-style integrated resort business can become a global leader by leveraging the unique strengths of Korean culture and creativity, embracing new technologies, and prioritizing environmental sustainability,” Si said.

Shim O-taeg, chairman of the National Gambling Control Commission, emphasized the importance of fostering public consensus to address the prevailing negative sentiment toward casinos, which are a key feature of integrated resorts.

“The government officially recognizes seven gambling industries, including casinos, to revitalize the local economy, create jobs, and expand public sector revenues,” Shim said, adding that many countries, including Thailand and Japan, are moving to develop integrated resorts and allow casino businesses.

National Gambling Control Commission Chairman Shim O-taeg delivers a congratulatory remark during The Korea Times Global Business Club in Seoul, Wednesday. Korea Times photo by Shim Hyun-chul

“However, there are still many concerns about casinos in Korea. We should seek to change the direction of the casino industry so that the public's concerns can be turned into expectations.”

Kim Sae-won, president of the Korea Culture and Tourism Institute, emphasized that integrated resorts can serve as engines of growth and provide a vital competitive advantage, illuminating the future of tourism in Korea.

“However, in order for the integrated resorts in Korea to have international competitiveness and grow into a platform that combines K-culture and tourism, creative and active discussions on the Korean-style integrated resort model and direction are needed. I hope that this event will be an opportunity to diagnose the current status and level of the integrated resort industry in Korea and share international trends to strengthen the foundation of Korea's integrated resort industry,” she said.

Korea Culture and Tourism Institute President Kim Sae-won speaks during The Korea Times Global Business Club in Seoul, Wednesday. Korea Times photo by Shim Hyun-chul

Rep. Lee Chul-gyu of the ruling People Power Party (PPP), who was unable to attend the event, noted the event's significance via a message sent to The Korea Times.

“The integrated resort industry is a future growth engine, encompassing various fields such as tourism, culture and economy. Although Korea has high market potential and infrastructure in tourism, it needs to strengthen its global competitiveness by conducting an in-depth analysis of overseas cases, as we are competing in the global tourism market with Japan, Singapore, and Macao,” he said.

Deputy Minister of Culture, Sports and Tourism Lee Jin-seok speaks during The Korea Times Global Business Club in Seoul, Wednesday. Korea Times photo by Choi Won-suk

Following the speeches, Christopher Khoo, managing director of MasterConsult Services from Singapore, delivered a keynote speech on lessons from Singapore on eradicating illegal gambling and innovating oversight systems.

Also, Yoon Tae-hwan, professor of hotel and convention management at Dong-Eui University, underscored Korea's potential strategies for integrated resort development amid intensifying global competition.

During the second part of the forum, two panel discussion sessions were held, featuring academics, industry stakeholders, and government officials. Participants explored Korea's strategic directions amid increasing competition in Asia and shared insights on establishing a regulatory system to prevent illegal gambling and gambling addiction while raising public awareness of these issues.

Distinguished guests pose during a VIP session prior to The Korea Times Global Business Club at the Korea Press Center in downtown Seoul, Wednesday. From left in the front row are Dong-Eui University professor of hotel and convention management Yoon Tae-hwan; Kyung Hee University professor at the College of Hotel and Tourism Management Seo Won-seok; MasterConsult Services Managing Director Christopher Khoo; Charge d'Affaires at the Indonesian Embassy in Seoul Zelda Wulan Kartika; Thai Ambassador Tanee Sangrat; Representative of Taipei Mission in Korea David Kuang-Chung Liang; Professional Hotel Management Association of Korea Chairman Lee Dae-sung; Korea Times President-Publisher Oh Young-jin; Korea Culture and Tourism Institute President Kim Sae-won; National Gambling Control Commission Chairman Shim O-taeg; Inspire Entertainment Resort President Chen Si; Inspire Entertainment Resort Chief Legal Officer and General Counsel Julie Heo; and Malaysian Ambassador Mohd Zamruni Khalid. From left in the second row are Incheon Free Economic Zone Authority Executive Director Nicholas Kim; National Gambling Control Commission Secretary General Lee Jin-sik; Kim & Chang Attorney Song Jin-ho; Korea Times Managing Director of Content and Business Planning Kim Jae-kyoung; Lotte Hotel & Resorts CEO Kim Tae-hong, Hanatour ITC CEO Lee Jea-woo; Deputy Minister of Culture, Sports and Tourism Lee Jin-seok; Macao Government Tourism Office's Marketing Representative in Korea General Manager Chris Lew; and Korea Tourism Organization Executive Vice President of the Tourism Industry Division Kim Dong-il. Korea Times photo by Choi Won-suk