S Korea approves foreign-run casino to attract China tourists

[SEOUL] South Korea approved construction of its first foreign-owned casino as Asia's fourth-largest economy tries to emulate Macau and Singapore in attracting more tourism spending from China.

The casino, a joint venture between Las Vegas-based Caesars Entertainment and Lippo, a Hong Kong-listed property developer, will be built near South Korea's main Incheon International Airport west of Seoul, South Korea's tourism ministry said yesterday.

The ministry granted preliminary approval for the first part of the project that may be worth as much as 2.3 trillion won (S$2.72 billion), and will also include hotels and shopping malls.