Integrated Resort Competitiveness took center stage at a major business forum in Seoul, where experts discussed Korea’s lagging position compared to Japan. Moreover, the event highlighted the need for policy reform to strengthen tourism, attract investors, and restore Korea’s global edge.
The forum, hosted by The Korea Times Global Business Club and the Tourism Sciences Society of Korea, focused on building sustainable growth in the IR sector. Additionally, industry leaders agreed that improving Integrated Resort Competitiveness is vital for Korea’s high-value tourism and gaming industries.
Professor Kang Sung-sook from Tezukayama University explained Japan’s long-term IR strategy. She said Japan began planning in the early 2000s to boost its economy and offset population decline. Furthermore, the government promoted cooperation among central agencies, local communities, and private investors.
Kang highlighted the Osaka IR project, led by MGM Resorts International, as a model of long-term vision. The $8.1 billion complex on Yumeshima Island will include 2,500 hotel rooms, convention halls, and entertainment venues. Once completed in 2030, it is expected to attract 20 million visitors a year and generate $3.4 billion in gaming revenue. It will also create more than 20,000 jobs.
She said Japan’s success comes from transparent regulation and steady government support. Consequently, she suggested that Korea could benefit from Japan’s growth. Curious Japanese tourists may visit Korean resorts, thereby boosting Integrated Resort Competitiveness across both markets.
Professor Yoon Tae-hwan from Dong-eui University outlined Korea’s structural weaknesses. He said fragmented oversight among ministries hinders coordination and leads to inconsistent enforcement. As a result, this lack of unity discourages global investors.
Yoon proposed establishing an independent “control tower” to manage the industry efficiently, following Singapore’s example. Moreover, he urged the government to expand entertainment, luxury retail, and MICE facilities to meet global standards.
He added that Korea’s IR growth stalled due to weak infrastructure and inconsistent support. Therefore, to strengthen Integrated Resort Competitiveness, he called for closer cooperation between public and private sectors, better incentives, and sustainable business models.
Ultimately, the forum concluded that Korea must act strategically to compete globally. By adopting a clear vision and learning from Japan’s approach, the nation can enhance Integrated Resort Competitiveness and secure its place as a leader in Asia’s tourism sector.
