Business · Companies · 2 hrs ago
Korea Racing Authority seeks tax revenue and rule changes for relocation
The Korea Racing Authority is seeking government support for its planned move from the Gwacheon racecourse.
It says fewer visitors are expected after the move and wants some leisure tax collected on online betting tickets directed to the authority or the horse industry.
Online ticket sales rose from 731.3 billion won in 2024 to 1.5425 trillion won by September 2026, while in-person sales have fallen for several years.
The authority also wants the leisure tax rate cut from 10% to 8%, the local education tax on ticket sales removed, and the 100,000-won per-person purchase limit scrapped.
It is asking to let customers sign up for online betting remotely instead of making an in-person identity check on their first visit.
The tax changes could reduce local government revenue, so the authority’s requests are not certain to be accepted.
The government is reportedly considering remote sign-ups and ending the purchase limit, while plans for the relocation remain stalled after delays in a board decision; the original plan was to announce a site in September and begin housing construction in 2029.
The Korea Racing Authority has asked the government for financial support as part of plans to relocate the Seoul Race Park in Gwacheon.
It wants part of the leisure tax from online betting to go to the authority or to horse-industry development.
The authority also seeks tax cuts and regulatory changes, including ending the 100,000-won per-person, per-bet purchase limit.
Online betting sales rose to 1.5425 trillion won by September 2026, while offline sales have declined.
The government is reportedly considering some changes, but lower tax rates could reduce local government revenue.
- Who
- The Korea Racing Authority.
- What
- It is seeking revenue from online betting taxes, tax cuts and rule changes linked to its relocation plans.
- When
- The requests were reported on October 31, 2026; the government held a related meeting on October 20.
- Where
- South Korea, including the Seoul Race Park in Gwacheon.
- Why
- The authority expects relocation to reduce visitors and says online betting revenue is growing as offline sales fall.
The Korea Racing Authority
Local governments concerned about revenue
Online betting leisure tax
The Korea Racing Authority
The authority wants the portion distributed nationwide redirected to it or to horse-industry development.
Local governments concerned about revenue
Lowering taxes or changing how they are distributed could weaken local government finances.
Tax and betting rules
The Korea Racing Authority
The authority seeks a lower leisure tax rate, abolition of the local education tax, removal of the purchase cap and remote online registration.
Local governments concerned about revenue
The article reports concern that tax cuts could worsen local finances, but does not state a specific position on the other requested changes.
Offline betting sales were 6.4853 trillion won.
Online betting sales began.
Online betting sales reached 731.3 billion won, while offline sales fell to 5.7826 trillion won.
Online betting sales rose to 1.3716 trillion won, while offline sales fell to 5.024 trillion won.
Online betting sales reached 1.5425 trillion won, exceeding the previous year's total.
The agriculture ministry vice-minister chaired a meeting to hear government agencies’ views on the authority’s financial-support requests.
- Online betting sales, September 2026
- 1.5425 trillion won
- Leisure tax rate
- 10% currently; the authority seeks 8%
- Local education tax
- 4% of betting sales; the authority seeks its abolition
- Betting purchase cap
- 100,000 won per person per bet
- Offline sales, 2025
- 5.024 trillion won
- Relocation plan
- Housing construction was planned to begin in 2029
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