RFKR “not decided” on next step after invalidation of rights to Incheon IR

Following a ruling by South Korea’s Ministry of Culture, Sports, and Tourism that invalidated its authority to operate an integrated resort (IR) project featuring a foreigner-only casino in Incheon, R&F Korea (RFKR) notified GGRAsia that it has not yet decided whether to file an appeal.

The Ministry officially terminated RFKR’s casino business permit, which it notified to GGRAsia on Tuesday. However, the corporation has 90 days to file an appeal.

This occurred after RFKR’s request in December for a 12-month extension of the first-phase opening date was denied.

The site’s launch schedule has undergone four changes since 2018, with the most recent one authorized on March 17, 2023.

About 25% of the RFKR project has been finished, according to the Incheon Free Economic Zone Authority (IFEZA), which oversees Yeongjong Island’s development close to Incheon International Airport. But construction hasn’t been done since 2020.

RFKR is associated with the Chinese developer Guangzhou R&F Properties Co Ltd, a financially troubled Hong Kong-listed company.

Original story by: GGRAsia