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South Korean Race Wagering

Racing has existed in Korea since the late 1800s. Betting on horse races was introduced in 1922 with the establishment of the Chosun Racing Club. In 1962, the Korea Racing Association Law created the Korea Racing Association (KRA), the sole racing authority, and has popularized Western-style horse races nationwide.

Following the establishment of the KRA, many changes have taken place, including the computerization of the pari-mutuel system, the construction of new racecourses in Gwacheon and Jeju, the opening of off-course betting centers and the new grandstand of Seoul Racecourse.

As with other countries, Korean racing is facing difficult challenges from competitors such as the casino industry. This competition, along with a sluggish economy, has seen a decline in revenue.

South Korean Race Wagering Properties

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