Kangwon Land reports KRW 147.4 billion losses: what it means for Kangwon Land stock

Published on 10/20/2026 at 02:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Seven non-casino units lost KRW 147.4 billion in 2025. Kangwon Land stock also faces a KRW 3 trillion K-HIT review through December 2026.

Non-casino pressure and resort review

Seven non-casino units recorded KRW 147.4 billion of combined losses in fiscal year 2025.
Kangwon Land's KRW 3 trillion K-HIT resort plan entered a feasibility review on October 2, 2026.
Kangwon Land had a market capitalization of KRW 2.8 trillion as of October 20, 2026.

Kangwon Land, KR7035250000, Illustration mit AI erstellt.

Kangwon Land (ISIN KR7035250000) is confronting a KRW 147.4 billion combined loss across seven non-casino businesses in fiscal year 2025. The figure was reported on October 12, 2026, as management also reviews the KRW 3 trillion K-HIT resort plan.

AGB reported that the seven businesses had accumulated KRW 1.685 trillion in losses from their openings through 2025. Their combined loss reached KRW 147.4 billion in 2025, with hotels and leisure facilities accounting for most of the deficit.

Why the resort plan matters

The review concerns K-HIT, a long-term transformation plan that would expand Kangwon Land beyond its casino base. iGaming Times reported on October 6, 2026, that a committee launched on October 2 would assess the plan's feasibility alongside organizational and personnel reforms.

The broader project targets investment of KRW 3 trillion through 2035. Its first phase includes a KRW 200 billion renovation of 757 hotel and condominium rooms, while a second casino floor is due in 2028, according to iGaming Times.

What does the review mean for earnings?

The immediate issue is execution against a weaker operating base. In the second quarter of 2026, revenue was KRW 345.6 billion, down 4.2 percent year over year, while operating profit fell 26.2 percent to KRW 43.2 billion. Net income rose 59.8 percent to KRW 100.3 billion, supported by financial gains, according to Quartr on August 14, 2026.

Three dated steps in the plan

In November 2025, Kangwon Land published the KRW 3 trillion K-HIT master plan. In March 2026, it began the KRW 200 billion room renovation covering 757 rooms. On October 2, 2026, the new committee began reviewing K-HIT and other major projects, as iGaming Times reported.

Dates for the next assessment

The committee is scheduled to work through December 2026. Kangwon Land's next reported earnings event is listed for November 13, 2026, according to Quartr.

Market value and operating pressure

Kangwon Land was quoted at KRW 14,260 on the KRX at 9:30 a.m. KST on October 20, 2026. Its 52-week range was KRW 13,920.00 to KRW 19,590.00, and its market capitalization was KRW 2.8 trillion on the same date. The valuation gives the review a direct financial angle: management must decide how much capital to commit while non-casino operations remain loss-making.