Korea relaxes rules for foreign investors in casinos

Korea Times – The government said Monday that it will ease regulations on the issuance of casino licenses to international investors. The plan was disclosed at a meeting presided over by President Park Geun-hye on how to boost the tourism industry. Up until now, foreign investors in casinos have been required to have credit ratings of higher than BBB. “We will ease the restrictions,” said an official from the Ministry of Culture, Sports and Tourism (MCST). “Even if bidders cannot meet the conditions, they can be licensed in case they stand out in other areas like financial capacity. The government…