Kangwon Land

What Kangwon Land does

Kangwon Land Inc. (KRX: 035250) is a publicly listed South Korean corporation that operates the High1 Resort, the only integrated resort in South Korea legally permitted to serve domestic Korean residents. The company is established under the Special Law on Mining Area Development Support and functions as a state-linked public corporation tasked with economic revitalization of the coal-mining transition region in Gangwon Province. Its core offering is a vertically integrated leisure and gaming ecosystem: a casino serving the Korean domestic market (the only one of its kind), 1,827 hotel and condominium rooms across the High1 Grand Hotel, Palace Hotel, and Mountain/Valley/Hill Condos, a ski resort at 700-1,300m elevation, an 18-hole golf course at 1,136m (claimed as Korea's highest), a water park using natural mountain spring water, convention facilities with a 1,500-capacity ballroom, and over 20 dining outlets.

The business generates revenue across six primary streams: casino gaming (house-edge / take-rate model), hotel and condo accommodations (₩230,000-₩850,000 per night), ski and golf operations, convention and event services, food and beverage, and the Hi-One Points loyalty program. The company draws 7 million annual visitors (2.85M to the casino, 4.15M to other resort facilities). Distribution combines a physical single-site resort, the high1.com e-commerce platform, a mobile app for smart check-in and loyalty management, travel agency partnerships, and a dedicated corporate sales team for MICE events.

Kangwon Land's go-to-market is omnichannel for end consumers and sales-led for corporate/group bookings. Technology infrastructure includes an AI-based Smart Audit System (launched 2026) for casino risk detection, a comprehensive 4,646-camera Video Management System, and ISMS-certified data privacy controls. The company is currently executing a KRW 3 trillion ($1.9-2.2B) expansion plan to double non-gaming revenue from 20% to 40% and a separate $136M hotel renovation covering 757 rooms (completion 2027-2028), positioning for a second casino launch in 2028 in anticipation of MGM Osaka's 2030 opening.

Name

Kangwon Land

Legal name

주식회사 강원랜드

Website

https://kangwonland.high1.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Kangwon Land (KRX: 035250) operates the High1 Resort in Gangwon Province, South Korea — the country's only integrated casino legally permitted to serve domestic Korean residents, combined with hotels, ski/golf, water park, and convention facilities serving 7 million annual visitors.

Ownership category

akta.pro rank

Product category

Integrated Resort Operations

NAICS

Casino Hotels (721120), Casino Hotels (72112), Casinos (except Casino Hotels) (71321)

SIC

Services-Miscellaneous Amusement & Recreation (7990), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Hotels & Motels (7011)

akta.pro primary industry

Integrated Casino Resorts (Casino + Hotel/Entertainment) (MPAEAAAA)

akta.pro secondary industries

Integrated Casino Resorts (THAGAJAA), Destination Casino Hotels (THAGAJAC)

Keywords

• Integrated resort operations
• Casino gaming services
• Hotel accommodation
• Ski resort operations
• Convention facilities

Headquarters

HQ city

Sabuk

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Casino Gaming Revenue: Primary revenue stream from casino operations. Kangwon Land is South Korea's only casino permitted to serve domestic (Korean) players. Revenue primarily from gaming operations, hospitality, and leisure services.
2. Hotel and Condo Accommodation: Hotel rooms and condominium accommodations across multiple properties including High1 Grand Hotel (Main Tower), Convention Tower, and Palace Hotel. Total 1,827 rooms with various room types from standard to luxury suites.
3. Ski and Golf Operations: Year-round ski resort with world-class slopes and an 18-hole golf course at 1,136m elevation (highest in Korea). Revenue from lift tickets, equipment rentals, golf fees, and related services.
4. Convention and Event Services: Large-scale convention facilities including Grand Ballroom (1,500 capacity), multiple meeting rooms, and event venues for corporate events, weddings, and seminars.
5. Food and Beverage: Over 20 dining outlets including Japanese restaurant Rinka, Western restaurants, Korean cuisine, buffet dining, cafes, and lounges across resort properties.
6. Hi-One Points Loyalty Program: Customer loyalty program with 3% point accumulation on cash/credit card payments. Points redeemable for resort services and partner offerings.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Kangwon Land operates High1 Resort, an integrated resort complex in Gangwon Province, South Korea, that includes the country's only casino legally permitted to serve domestic Korean residents. The complex also offers hotel accommodations, condominiums, a water park, ski and golf facilities, dining, and convention/banquet venues, functioning as a four-season leisure destination.

Product overview

Kangwon Land operates the High1 Resort (하이원리조트), a comprehensive integrated resort destination in Gangwon Province, South Korea. The resort combines casino gaming (the only casino in South Korea permitted for local residents) with diverse leisure offerings including ski facilities, water park (Waterworld), golf (High1CC), hotels and condominiums (Grand Hotel, Palace Hotel, Mountain/Vally/Hill Condos), convention and banquet venues, and over 20 dining options. The company offers a loyalty program (High1 Points) and mobile application for reservations and guest services. Revenue is derived from gaming (casino), hospitality (accommodations), and leisure services. The resort targets both domestic and international tourists with a focus on four-season entertainment and family-friendly activities.

Differentiator

Problem solved

Functional benefit

Brands

• 하이원 그랜드호텔 (High1 Grand Hotel): Main hotel tower with convention facilities, part of the High1 Resort integrated complex.
• 하이원 팰리스호텔 (High1 Palace Hotel)
• 하이원CC (High1 Country Club)
• 하이원 워터월드 (High1 Water World)
• 하이원 스키장 (High1 Ski Resort)
• 마음채움센터 (KLACC)
• 하이원 스포츠단 (High1 Sports Team)
• 하이원 포인트 (High1 Point)
• 하이원리워즈 (High1 Rewards)

Products and services

• High1 Grand Hotel
• High1 Palace Hotel Secondary hotel property within the High1 Resort complex offering accommodation to visitors.
• Mountain/Valley/Hill Condo Condominium-style lodging units (Mountain, Valley, Hill) at the High1 Resort for guests seeking apartment-style accommodation.
• High1 Casino On-floor casino operation open to customers; the only casino in South Korea permitted to serve domestic Korean residents, with dedicated smoking areas, non-smoking areas, and a foreigner-only area.
• High1 Ski Resort Alpine ski facilities at 700-1,300m elevation offering winter sports to resort guests and day visitors.
• High1 Country Club Golf High-elevation golf course at 1,136m — reported as the highest golf course in South Korea — available to resort guests and visitors.
• Waterworld (Water Park) Indoor/outdoor water park facility within the High1 Resort for family and leisure guests.
• Convention and Banquet Facilities Convention and banquet venues within the resort for corporate events, MICE programs, weddings, and other group functions.
• Dining at High1 Resort Multiple on-property restaurants and food & beverage outlets serving resort guests and casino visitors.
• High1 Points (Loyalty Program) Brand-name points-based loyalty membership program rewarding repeat stays and usage of resort facilities.
• High1 Resort Mobile App Mobile application supporting customer convenience, with an exposed Open API for service integration and customer engagement.

Quantifiable outcome

• 7 million annual visitors (700만 명)
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Best Sleep (베스트슬립)coreStrategic or Co-development Partner · 2 February 2025Strategic partnership for hotel room renovation and branding. '슈페리어 베스트슬립' room category launched with Best Sleep branded bedding and sleep-optimized amenities. Rooms feature premium mattresses and sleep technology for enhanced guest experience.
• Hi-One Points Regional Partners (하이원포인트 지역가맹점)minorChannel Partner/ Reseller/ DistributorLocal merchants accepting Hi-One Points loyalty currency for payments at regional businesses, supporting local economy circulation and guest convenience.
• Korea SME Innovation Agency (중소벤처기업진흥공단)coreStrategic or Co-development PartnerJoint execution of 'Next Unicorn Project' to relocate young startup companies to Gangwon coal-mining transition region. Kangwon Land supports relocation of 21 companies over 7 years (2019-2025) with transfer grants of KRW 150 billion total.
• Gangwon Local Governments (강원특별자치도, 태백시, 정선군)coreStrategic or Co-development PartnerPartnership for regional revitalization in coal-mining transition areas. Includes company relocation incentives and local tourism development programs connecting 16 nearby attractions.
• Kakao MobilityminorGTM or Marketing PartnerMarketing partnership for visibility as top travel destination. Kangwon Land ranked #1 most popular travel destination by Kakao Navi users.
• Korean Entertainment Companies ( MBC and others)GTM or Marketing PartnerPartnership for event entertainment including 'Show! Planet! High1 Artist Concert' and other performances.
• Social Service Workers (사회복지사, 공익활동가, 의료진, 소방관)minorOthersRecipients of 'Value Charging Station' (가치충전소) CSR program providing free hotel accommodations and wellness programs for social service workers.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@kangwonland_official
• Facebookfacebook.com/high1forcs
• Instagraminstagram.com/high1_resort

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kangwon Land