1. South Korea Stocks

  2. •

    Consumer services

  3. •

    Casinos/Gaming
Kangwon Land, Inc.

Kangwon Land, Inc.

KKRX:035250
14,160.00
KRW
-100.00
(-0.70%)
1,656.83EPS
8.63P/E
2.83TMarket Cap
Nov 12Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6,714.97
7,379.35
8,056.77
8,367.17
7,636.03
7,095.35
7,499.15
2,361.15
3,879.7
6,264.56
6,847.17
7,048.51
7,295.63
7,394.71
Basic EPS, GAAP
1,468
1,772
2,178
2,242
2,159
1,467
1,651
-1,361
-52
570
1,681
2,257
1,572
1,656.83
Free Cash Flow per Basic Share
1,580.42
2,119.99
2,636.27
2,573.81
1,862.73
1,285.56
1,612.96
-3,529.52
826.29
1,923.16
1,316.05
1,818.31
854.05
558.1
Dividend per Share
755.06
729.78
849.85
979.9
990.22
990.31
900.38
900.22
- -
- -
349.9
931.4
1,158.4
- -
Book Value per Share
12,416.95
13,342.68
14,784.99
16,042.9
17,269.02
17,691.39
18,337.39
16,015.63
16,044.14
16,846.1
18,141.07
19,379.02
20,003.26
19,725.37
Tangible Book Value per Share
12,398.95
13,326.82
14,772.49
16,033.75
17,262.85
17,687.12
18,318.15
15,996.65
16,028.61
16,832.48
18,132.33
19,312.51
19,911.14
19,602.13
Basic Weighted Avg Shares
203
203
203
203
203
203
203
203
203
203
203
202
202
199
Sales/Revenue/Turnover
1,361,287
1,496,541
1,633,717
1,696,533
1,547,772
1,438,059
1,520,080
478,579
788,433
1,270,686
1,388,572
1,426,863
1,476,727
1,474,153
Operating Margin (%)
28.51
34.29
36.44
36.47
34.3
29.95
32.97
-90.18
-6.68
17.12
20.33
20.03
15.93
14.6
Depreciation Expense
76,539
75,635
74,327
75,002
74,229
66,085
72,329
77,308
79,379
78,196
80,485
78,475
84,387
89,969
Net Income, GAAP
297,599
359,364
441,645
454,590
437,615
297,326
334,658
-275,860
-10,567
115,617
340,899
456,895
318,192
330,293
Effective Tax Rate (%)
24.43
27.54
25.64
23.85
22.72
27.62
31.55
- -
- -
31.12
25.45
19.18
18.29
18.54
Profit Margin (%)
21.86
24.01
27.03
26.8
28.27
20.68
22.02
-57.64
-1.34
9.1
24.55
32.02
21.55
22.41
Working Capital
510,185
747,309
1,085,820
1,090,620
1,482,958
1,123,005
1,226,849
1,168,208
1,150,274
641,177
689,937
463,860
2,435,519
2,360,082
LT Debt
- -
- -
- -
940
1,400
- -
65,634
61,650
65,728
62,963
54,933
51,253
44,059
41,800
Total Equity
2,517,696
2,705,357
2,997,755
3,252,727
3,501,236
3,586,777
3,717,759
3,247,029
3,252,793
3,415,378
3,677,901
3,883,663
3,964,519
3,909,440
Return on Invested Capital (%)
11.62
13.82
15.09
14.68
11.86
8.62
9.12
- -
- -
4.38
5.81
5.99
4.79
4.45
Return on Capital (%)
12.18
13.77
15.49
14.55
12.96
8.4
9.12
- -
- -
3.44
9.61
11.97
8.05
8.54
Return on Common Equity (%)
12.17
13.76
15.49
14.55
12.96
8.39
9.16
-7.92
-0.33
3.47
9.61
12.08
8.11
8.59

Capital Structure

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9,656
9,713
9,916
LT Borrowings
- -
- -
- -
LT Finance Leases
44,059
44,629
41,800
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
198
198
198
Market Capitalization
3,755,773
3,347,493
2,834,171

Working Capital

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,238,176
3,060,205
3,004,442
Cash, Cash Equivalents & STI
3,206,122
3,027,223
2,979,105
Accounts Receivable, Net
6,319
4,455
2,150
Inventories
5,502
5,240
4,674
Total Current Liabilities
802,657
813,290
644,359
Payables & Accruals
- -
- -
- -
ST Debt
9,656
9,713
9,916
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.01%
4.11%
2.08%
Free Cash Flow
-39.22%
-7.57%
-53.04%
Net Income, GAAP
-129.45%
-218.35%
-30.36%
Sales/Revenue/Turnover
6.66%
28.29%
3.49%
Total Cash Common Dividend
- -
- -
24.36%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
368,374
337,951
375,916
344,622
1,426,863
2025
366,311
360,822
384,147
365,447
1,476,727
2026
378,924
345,635
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
458
794
448
557.16
2,257
2025
372
313
564.21
338.77
1,572
2026
199.81
553
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
931.4
2025
- -
- -
- -
- -
1,158.4
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Do-kyun Kim
Full Time Employees
4,906
Sector
Consumer services
Industry
Casinos/Gaming
Address
Sabuk-ri 424 Jeongseon-gun GA South Korea 26154
IPO Date
Sep 4, 2003
Website
kangwonland.high1.com
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Business
Kangwon Land, Inc. (035250.KS) operates as South Korea's leading integrated casino resort company, primarily managing the Kangwon Land Casino--the nation's only land-based casino accessible to Korean nationals--alongside complementary leisure facilities in the mountainous Jeongseon-gun region of Gangwon Province. The company offers a comprehensive suite of products and services including casino gaming with approximately 200 table games, 1,360 slot machines, and video gaming options; multiple hotels such as Kangwonland Hotel, Convention Hotel, and High1 Hotel with over 670 rooms; condominiums including Mountain, Valley, and Hill Condo totaling around 400 units; High1 Ski Resort featuring 18 slopes and cableway access; High1 CC public golf course; water world attractions; and ancillary services like convention halls, food and beverage outlets, and a gambling addiction care center. Founded in 1994 and headquartered at 424 Sabuk-ri, Sabuk-eup, Jeongseon-gun, South Korea, Kangwon Land focuses exclusively on domestic operations, serving both local and foreign customers through its year-round resort complex developed on former mine land, with six core segments encompassing casino, hotel, holiday units, golf, skiing, and other recreation. Recent developments include government approval in September 2025 for a second casino facility adding 5,747 square meters of gaming space, 50 additional table games, and 250 slot machines, slated for operational launch by 2027; regulatory enhancements in 2025 raising betting limits to KRW 3 million per session and expanding mass gaming areas by 1,433 square meters; full achievement of 2024 value-up program goals with record earnings and 2.8% revenue growth to KRW 1.427 trillion driven by service diversification; an expanded partnership with Neowiz and Massive Gaming for new Korean slot software development; and a strategic manufacturing alliance via affiliate Kangwon Energy with Noveon Magnetics for a 2,000-ton NdFeB magnet plant in 2027. These initiatives underscore Kangwon Land's ongoing expansion in gaming capacity, non-casino revenue streams, and technological innovation amid strengthening shareholder returns under CEO Chul-Kyu Choi, who assumed leadership in December 2023.