Management Slogan 'Reborn (REBORN)' Presented
Achieved 360 Billion KRW in Sales and 8% Operating Profit
"Focusing on Establishing Public Enterprise's Social Responsibility and Status"
"The year 2023 will be the first year of a new leap forward, focusing on turning a profit and establishing social responsibility and status as a public enterprise."
Kim Young-san, CEO of Grand Korea Leisure (GKL), emphasized this during the first management strategy meeting of the new year on the 11th, presenting the management slogan for this year as 'REBORN 2023 (Black Rabbit Jump)'.
REBORN is a keyword formed from the initials of English words representing ▲Revenue recovery and turning a profit (Restart) ▲Enhancing efficiency through innovation (Efficiency) ▲Building trust with stakeholders (Between) ▲Securing and supporting future competitiveness in the tourism industry (Overcome) ▲Realizing social responsibility through ESG (Environment, Social, Governance) management (Responsibility) ▲Investment and performance creation (New era).
CEO Kim presented specific performance goals for GKL this year, aiming for sales of 360 billion KRW and an operating profit margin of 8%. As a public enterprise operating casinos exclusively for foreigners, GKL was hit hard by the COVID-19 pandemic but has seen gradual improvement in management conditions as quarantine measures have been partially eased. The company’s provisional tally shows casino sales of 265.2 billion KRW last year, a 196% increase compared to 89.6 billion KRW in 2021. This year, the goal is to increase sales by about 100 billion KRW from that figure.
Additionally, GKL plans to achieve a 'Good' rating on the public institution innovation index, invest 3% in future projects, and be designated as an excellent institution in ESG evaluations. These efforts aim to continue 'two-handed' management that not only increases sales but also fulfills the social responsibilities of a public enterprise.
In line with the trend of increasing inbound tourists after the endemic phase of infectious diseases, GKL will form business partnerships with inbound travel agencies, duty-free shops, and performance venues, conducting joint marketing to attract casino mass customers and revitalize urban tourism.
GKL also plans to support the revitalization of commercial districts around its Seven Luck branches operated in Seoul and Busan, including Gangnam COEX, Yongsan Seoul Dragon City, and Busan Lotte Hotel. Furthermore, it will establish a system to train integrated tourism personnel, promote job creation and employment support in the tourism sector, and strengthen environmental management systems through various projects.
CEO Kim stated, "All history is a repetition of challenges and responses," urging, "Let us overcome difficulties, turn a profit, and restore our identity and pride as a casino public enterprise by doing valuable work needed by our country."
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