Kangwon Land Replaces Old Casino Chips with Korea Minting and Security Printing Corporation

Application of Advanced Security Technology in Currency
Expected Effects Such as Counterfeit Prevention

Kangwon Land announced on the 11th that it has signed a business agreement with the Korea Minting, Security Printing & ID Card Operating Corporation for the casino chips replacement project.

Lee Sam-geol, CEO of Kangwon Land (left), and Ban Jang-sik, President of the Korea Minting and Security Printing Corporation, are posing for a commemorative photo after signing a business agreement.
[Photo by Kangwon Land]

Chips are cash substitutes used in casinos. Kangwon Land plans to replace four types of old chips?5,000 won, 10,000 won, 100,000 won, and 1,000,000 won denominations?in collaboration with the Korea Minting Corporation over this year and next year. The board meeting scheduled for the 26th will decide whether to proceed with the related project.

The chips currently used at Kangwon Land are from 2003, 2008, and 2010. Older chips suffer from severe contamination, damage, and breakage, and the applied technologies vary depending on the year of introduction.

The newly produced chips will be equipped with the latest RFID (Radio Frequency Identification) and EM (Electromagnetic) technologies as standard, and will incorporate high-level security technologies at the currency level, such as optical crystal film, fluorescent multiplexing, and special material responsiveness, owned by the Korea Minting Corporation.

Once the chip replacement is completed, Kangwon Land explained that customer service will improve in terms of cleanliness, and effects such as chip counterfeiting prevention, reduced exchange time, and digitalization of the chip management system are expected.