• Sat. Jun 3rd, 2023

The long-awaited RFKR resort in Incheon in South Korea will not be completed in the next 15 months. The administrative procedures have yet to be completed, and the grand opening date is not known.

Delayed works on construction:

The new foreign casino resort

is already built to a certain extent, and an executive from R&F Korea, a promoter of the project, confirmed that the resort would be built in 15 months, but the additional administrative work will take more time after the project is completed. The Ministry of Culture, Sports, and Tourism, responsible for the South Korean casino industry, knows the timeline. An anonymous representative of R&F Korea

stated: We are currently reviewing the site and preparing it to resume construction. The ministry was assured that we would provide a report on progress every three months. The government intervened because the construction was halted and warned that if they didn’t resume in the next three months,

the 12-month extension for completing the first stage of the work would be reviewed. The deadline is still March 17, next year.This was a temporary extension that came with

a couple of conditions. This extension came with a few conditions

. The deadlines for the establishment of casino operation plans and partnerships will be set by the operator that will provide its services to the casino. Twelve months is the deadline for meeting these requirements. This is followed by the casino submitting a pledge of investment during this time period. All of this is followed by providing evidence of direct foreign investment, as well as submitting reports every quarter.R&F Korea’s financial issues:However, there’s another issue R&F Korea is currently facing:

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obtaining financial investments which will help in building the new Korean casino resort. The company has already received interest from foreign investors, but it wants to include more Korean Investors

in the project. This land is located near the future casino. The executive stated: “Our construction delays are not uncommon, as delays due to financing problems are common throughout the country. Some famous buildings took 15 years to build.”

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