Comments:
Moon Gwang-bu said that the move only blocked the cash service function and could not receive cash services using credit cards, but it could prevent excessive betting by users because it is possible to find cash in the deposit account. While the Korea Racing Authority plans to block the cash service function of ATMs located in horse racing parks and over-the-counter sales offices on the 14th, some fans are concerned about privacy infringement and inconvenience. While horse racing sales have continued to decline, the introduction of the electronic card system is expected to further encourage the contraction of the horse racing industry, raising concerns. The Korea Racing Authority has piloted the electronic card system at three branches (Central Incheon, Daegu, and Changwon) since October 26 (Friday) at the recommendation of the government.
Saturday, February 21 2026 - 02:53 AM
Comments:
While the first five-year comprehensive plan to foster the horse industry is inevitable from the beginning due to a lack of budget, the National Agricultural Cooperative Federation was found to have not been reflected in the budget for the industry-related projects at the end of next year, putting the horse industry promotion law itself on the verge of being stigmatized as the government's promotional legislation called "Absolute Light."The horse industry and the Ministry of Agriculture and Food plan to try to secure the shortfall by persuading politicians during the parliamentary budget review process, but most officials predict that the five-year comprehensive plan will require four times more than the government's budget, which will eventually lead to a greatly reduced development project, unlike the comprehensive plan, as the budget for the industry at the end of next year falls far short of the expectations of the horse industry.
Saturday, February 21 2026 - 02:42 AM
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At the working-level meeting, presided over by Choi Woong, director of the Agricultural and Fishery Bureau of North Gyeongsang Province, four heads of departments related to North Gyeongsang Province and three heads of Yeongcheon City attended talks to promote the project related to the creation of the Yeongcheon Horse Racing Park, and five members of the Yeongcheon Horse Racing Park Project were also reportedly consulted. Gyeongbuk Province explained the overall progress of the horse racing park, the compensation for the transfer site and the plan to change urban plans, and the construction and development of infrastructure around the horse racing park, and announced that it would not disrupt the opening in December 2016 through smooth business promotion such as an organic cooperation system and systematic management of the progress.
Saturday, February 21 2026 - 02:20 AM
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Meanwhile, when visiting a horse racing park in the future, it is expected that sufficient cash will be prepared in advance to avoid a fiasco. The Ministry of Culture, Sports and Tourism announced that it will block the cash service function of ATMs installed at all horse racing, racetracks, and racetracks (including off-site sales offices) from the 14th (Wednesday). According to the Ministry of Culture, Sports and Tourism, the government has recently pointed out that public institutions in charge of the gambling industry should not allow unrestrained betting through cash services during a parliamentary audit.Moon Gwang-bu said the move only blocks the cash service function and cannot receive cash services using credit cards, but it can prevent excessive betting by users because it is possible to find cash in deposit accounts.
Saturday, February 21 2026 - 02:18 AM
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Since October 26 (Friday), the Korea Racing Authority has piloted the electronic card system at three branches (Central Incheon, Daegu, and Changwon) on the government's recommendation. Basically, horse racing fans who use three branches have to use electronic cards, but they can choose between cash purchases of KRW 3-50,000 per session or electronic card purchases due to rapid sales concerns and pilot operations. As a result of the implementation of the electronic card system, sales of all three branches decreased by 7.6% compared to the previous week, while the Daegu branch, which allowed cash purchases of up to KRW 50,000, showed no difference from the previous one, but the Incheon Central (19.5% decrease) and Changwon branch (11.6%) which restricted cash purchases to KRW 30,000 recorded significant sales declines.
Saturday, February 21 2026 - 02:13 AM
Comments:
While holding working-level officials accountable for wrong tasks or policy implementation, why not hold their former managers accountable for making big policy decisions that shake the society? As they are not responsible, they should think twice whether they lacked the authority and affection.Although it is said that the Korean Racing Authority made all-out efforts to reform the negative image of horse racing, the fact that even the members of the Agricultural and Fisheries Commission, which can be said to be close through the parliamentary inspection, recognize horse racing as a gamble and say that regulations are needed shows that the Korean Racing Authority has not made proper efforts yet. The Korean Racing Authority should first focus on changing the minds of the members of the Agricultural and Fisheries Committee.
Saturday, February 21 2026 - 01:40 AM
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Although each person is interested in fostering the horse industry and says to promote it well, they have expressed strong denial about the horse racing industry that will lead the horse industry and have issued a flurry of orders to strengthen regulations on horse racing. In particular, the horse racing industry showed strong rejection of the re-promotion of online betting, which they think is the biggest solution to the crisis of the existence of the Korean horse racing industry. Even though 10 months have passed since he took office as the head of the Korean Horse Racing Association, which boasts the largest tax burden as a single company, it should be pointed out that both the current chairman and the management of the Korean Horse Racing Association shared the perception that the current chairman and the management were not responsible for the criticism because it was approved by their predecessors.
Saturday, February 21 2026 - 01:36 AM
Comments:
While the first five-year comprehensive plan to foster the horse industry is inevitable from the beginning due to a lack of budget, the National Agricultural Cooperative Federation was found to have not been reflected in the budget for the industry-related projects at the end of next year, putting the horse industry promotion law itself on the verge of being stigmatized as the government's promotional legislation called "Absolute Light."The horse industry and the Ministry of Agriculture and Food plan to try to secure the shortfall by persuading politicians during the parliamentary budget review process, but most officials predict that the five-year comprehensive plan will require four times more than the government's budget, which will eventually lead to a greatly reduced development project, unlike the comprehensive plan, as the budget for the industry at the end of next year falls far short of the expectations of the horse industry.
Saturday, February 21 2026 - 01:32 AM
Comments:
Meanwhile, when visiting a horse racing park in the future, it is expected that sufficient cash will be prepared in advance to avoid a fiasco. The Ministry of Culture, Sports and Tourism announced that it will block the cash service function of ATMs installed at all horse racing, racetracks, and racetracks (including off-site sales offices) from the 14th (Wednesday). According to the Ministry of Culture, Sports and Tourism, the government has recently pointed out that public institutions in charge of the gambling industry should not allow unrestrained betting through cash services during a parliamentary audit.Moon Gwang-bu said the move only blocks the cash service function and cannot receive cash services using credit cards, but it can prevent excessive betting by users because it is possible to find cash in deposit accounts.
Saturday, February 21 2026 - 01:04 AM
Comments:
Moon Gwang-bu said that the move only blocked the cash service function and could not receive cash services using credit cards, but it could prevent excessive betting by users because it is possible to find cash in the deposit account. While the Korea Racing Authority plans to block the cash service function of ATMs located in horse racing parks and over-the-counter sales offices on the 14th, some fans are concerned about privacy infringement and inconvenience. While horse racing sales have continued to decline, the introduction of the electronic card system is expected to further encourage the contraction of the horse racing industry, raising concerns. The Korea Racing Authority has piloted the electronic card system at three branches (Central Incheon, Daegu, and Changwon) since October 26 (Friday) at the recommendation of the government.
Saturday, February 21 2026 - 12:59 AM
Comments:
Since the introduction of the electronic card system is a government recommendation, the Korea Racing Authority said it had no choice but to introduce the three branches as a result of implementation, but it has not yet been decided whether to expand them or not. Meanwhile, when visiting a horse racing park in the future, it is expected that sufficient cash will be prepared in advance to avoid a fiasco.The Ministry of Culture, Sports and Tourism announced that it will block the cash service function of ATMs installed at all horse racing, bicycle racing and racetracks (including off-site sales offices) from the 14th (Wednesday). According to the Ministry of Culture, Sports and Tourism, the government has recently pointed out that public institutions in charge of the gambling industry should not allow unrestrained betting through cash services during a national audit.
Saturday, February 21 2026 - 12:53 AM
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In particular, Kim Moon-young, CEO of Racing Media Co., Ltd., who represents the horse racing industry, points out the problems of the domestic horse industry that regulates the horse racing industry even though the horse racing industry is a prerequisite for fostering the horse industry, and announces measures and development plans. CEO Kim also raised the issue that the Korean horse industry is not finding a proper direction for development due to the serious imbalance in the horse racing and horse racing industry, and argued that horse racing should be excluded from the Audit and Inspection Act or the integrated supervision committee of the gambling industry, which is the core of the rooftop house regulation, should be changed to the illegal gambling act supervision committee.
Friday, February 20 2026 - 07:31 AM
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Meanwhile, the Seoul Horse Racing Association released data on the 20th anniversary of its foundation. According to the summary released by the Seoul Horse Racing Association, the cumulative basis from the conversion of individual horse racing in 1993 to the end of 2012 to the end of 2012, and Nam Seung-hyun was the winner of the multiple wins (160 wins) and the winner of the prize money (6.3 billion won), while Jang Seok-rin was the winner of the multiple wins (10 wins) of the race, Kim Ik-young was the winner (16.1%), Park Seong-gu was the winner of the multiple wins (1,471 times), and Park Jung-yeol was the winner of the race horse (1272 times).
Friday, February 20 2026 - 07:29 AM
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The inauguration ceremony was followed by the 8th and 9th chairman of the Seoul Horse Racing Association. The new chairman, Dae-seop, who took office as the 9th president of the Seoul Horse Racing Association, said, "The 20-year history of individual horse racing is the history of horse racing advancement. "I have a heavy shoulder to take over the chairmanship at this important time of the youth era," he said. "We will focus on improving the conditions and environment of face-to-face management, such as strengthening the status of face-to-face management and the expansion of rights and interests during his term," he said. "We will work with horse racing society and horse racing-related organizations to revive online betting and ease regulations on the inspection committee in order to overcome the reality of Korean horse racing, which has recently been in difficulties both internally and externally, such as sales decline and regulations on the inspection committee."
Friday, February 20 2026 - 07:21 AM
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Meanwhile, the Korean Horse Racing Association is also reportedly seeking to urge the government to come up with policies to eradicate illegal gambling and private horse racing, which is expected to lead to an all-out war against illegal gambling across the horse racing industry. The Seoul Horse Racing Association (Chairman Dae Ji-seop) celebrated the 20th anniversary of the individual horse racing festival, and announced a new start with the 9th new chairman, Dae Ji-seop.On March 19 (Tue), the Seoul Horse Racing Association held a ceremony to mark the 20th anniversary of its foundation and the inauguration of the 9th chairman, Dae Ji-seop, at the Renaissance Hotel in Yeoksam-dong. At the ceremony, members of the Seoul Horse Racing Association, Vice Chairman Kim Young-man of the Association, Kang Yong-ik, president of the Association of Busan and South Gyeongsang Province, and executives and employees of horse racing-related organizations attended the ceremony.
Friday, February 20 2026 - 06:31 AM
Comments:
Meanwhile, the Korean Horse Racing Association is also reportedly seeking to urge the government to come up with policies to eradicate illegal gambling and private horse racing, which is expected to lead to an all-out war against illegal gambling across the horse racing industry. The Seoul Horse Racing Association (Chairman Dae Ji-seop) celebrated the 20th anniversary of the individual horse racing festival, and announced a new start with the 9th new chairman, Dae Ji-seop.On March 19 (Tue), the Seoul Horse Racing Association held a ceremony to mark the 20th anniversary of its foundation and the inauguration of the 9th chairman, Dae Ji-seop, at the Renaissance Hotel in Yeoksam-dong. At the ceremony, members of the Seoul Horse Racing Association, Vice Chairman Kim Young-man of the Association, Kang Yong-ik, president of the Association of Busan and South Gyeongsang Province, and executives and employees of horse racing-related organizations attended the ceremony.
Friday, February 20 2026 - 06:29 AM
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As the evils of illegal gambling have recently emerged as social issues, government agencies are racing to come up with measures to eradicate illegal gambling, and there are growing calls for the re-establishment of the status of the audit committee, which has been preoccupied with regulating the legal gambling industry. Although the audit committee continues to regulate the legal gambling industry excessively with the effect of locomotives, it is evident that the audit committee's policy eventually increased illegal gambling, which strongly calls for changes in the committee's policy and the government's legal gambling industry.
Friday, February 20 2026 - 06:20 AM
Comments:
In particular, Kim Moon-young, CEO of Racing Media Co., Ltd., who represents the horse racing industry, points out the problems of the domestic horse industry that regulates the horse racing industry even though the horse racing industry is a prerequisite for fostering the horse industry, and announces measures and development plans. CEO Kim also raised the issue that the Korean horse industry is not finding a proper direction for development due to the serious imbalance in the horse racing and horse racing industry, and argued that horse racing should be excluded from the Audit and Inspection Act or the integrated supervision committee of the gambling industry, which is the core of the rooftop house regulation, should be changed to the illegal gambling act supervision committee.
Friday, February 20 2026 - 05:54 AM
Comments:
The inauguration ceremony was followed by the 8th and 9th chairman of the Seoul Horse Racing Association. The new chairman, Dae-seop, who took office as the 9th president of the Seoul Horse Racing Association, said, "The 20-year history of individual horse racing is the history of horse racing advancement. "I have a heavy shoulder to take over the chairmanship at this important time of the youth era," he said. "We will focus on improving the conditions and environment of face-to-face management, such as strengthening the status of face-to-face management and the expansion of rights and interests during his term," he said. "We will work with horse racing society and horse racing-related organizations to revive online betting and ease regulations on the inspection committee in order to overcome the reality of Korean horse racing, which has recently been in difficulties both internally and externally, such as sales decline and regulations on the inspection committee."
Friday, February 20 2026 - 05:52 AM
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Chairman Kang Yong-sik, who is about to attend the ceremony, told reporters, "Thank you for your interest in horse racing," and urged, "Recently, there was a report that the size of the illegal gambling market, including the illegal gambling industry, reached up to 100 trillion won. The government should establish comprehensive government measures, including a full-scale war against illegal gambling industries such as private racing."Chairman Kang pointed out that the expansion of the illegal gambling industry, which is considered a representative underground economy, is the biggest cause of the balloon effect due to excessive regulations on the legal gambling industry, and argued that the status of the audit committee should be re-established.
Friday, February 20 2026 - 05:48 AM
Comments:
Meanwhile, the Seoul Horse Racing Association released data on the 20th anniversary of its foundation. According to the summary released by the Seoul Horse Racing Association, the cumulative basis from the conversion of individual horse racing in 1993 to the end of 2012 to the end of 2012, and Nam Seung-hyun was the winner of the multiple wins (160 wins) and the winner of the prize money (6.3 billion won), while Jang Seok-rin was the winner of the multiple wins (10 wins) of the race, Kim Ik-young was the winner (16.1%), Park Seong-gu was the winner of the multiple wins (1,471 times), and Park Jung-yeol was the winner of the race horse (1272 times).
Friday, February 20 2026 - 05:23 AM
Comments:
The inauguration ceremony was followed by the 8th and 9th chairman of the Seoul Horse Racing Association. The new chairman, Dae-seop, who took office as the 9th president of the Seoul Horse Racing Association, said, "The 20-year history of individual horse racing is the history of horse racing advancement. "I have a heavy shoulder to take over the chairmanship at this important time of the youth era," he said. "We will focus on improving the conditions and environment of face-to-face management, such as strengthening the status of face-to-face management and the expansion of rights and interests during his term," he said. "We will work with horse racing society and horse racing-related organizations to revive online betting and ease regulations on the inspection committee in order to overcome the reality of Korean horse racing, which has recently been in difficulties both internally and externally, such as sales decline and regulations on the inspection committee."
Friday, February 20 2026 - 05:21 AM
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Chairman Kang said, "The Korean horse race, which marks the 20th anniversary of the transition to the individual horse race system, corresponds to the coming-of-age ceremony, and that the mission and responsibility for the development of the horse racing industry should be considered again by reflecting on the historical meaning and value of the transition to the individual horse race system." "The horse racing industry has been discussed a lot recently, but it is necessary to recognize the importance of the horse racing industry, which is the basis of the horse industry, and to make self-rescue efforts for horse racing with confidence," and added, "All horse racing members, including the implementer, face-to-face, coach, athletes, and horse racing fans, should go back to their original intentions and make efforts to distribute them with thorough self-reflection and new determination.
Friday, February 20 2026 - 05:16 AM
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Imgo-myeon, Yeongcheon City, to build training facilities, breeding centers, Malgyeong stores, and education centers. Meanwhile, the Ministry of Agriculture, Forestry and Fisheries plans to announce the designation of a special horse industry zone within the first half of this year. An official from the Ministry of Agriculture and Forestry said that there is a possibility that the details of the project will change in the future in relation to the horse industry promotion project, and that no specific plan has been decided yet. Jeju Island is expected to announce the designation of a special industrial zone at the end of April by the Ministry of Agriculture and Forestry, and has reportedly started preparing in advance by forming a "Council to Apply for the Designation of a Special Zone for Horse Industry in Jeju."
Friday, February 20 2026 - 04:47 AM
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According to an official of the Korea Racing Authority, there are many concerns about speeding up the time to provide video clips of the race, but the government has made every effort to expand the service to horse racing fans. It also said that it will be difficult to advance the time to provide further videos due to concerns about harmful effects such as the abuse of private horse racing unless there is a major change in Internet betting in the future. The Korea Racing Authority began providing videos of the race to horse racing fans immediately after the race in 2001. However, in April 2003, due to the claim that the live race broadcast was spreading private horse racing and the side effects of it intensified, the Internet video provision time was also changed to 10 minutes after the result was confirmed.
Friday, February 20 2026 - 04:45 AM