Guestbook

TEST008

Hanul Accounting Corporation stated that, based on its research findings, future horse racing prize money should shift from cost-based valuation to industry ecosystem-centered valuation, and that some regional differential application based on a single premium rate grounded in a rational valuation method could be possible. It also explained that, after reviewing the responsibility for handling racehorse-related accidents and the current level of support for accident insurance and injury insurance, it was determined that additional support from the implementing agency is not essential, and that more urgent policy support from the implementing agency is needed for accident treatment for horse racing-related personnel.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

They also said, “The Korea Racing Authority has issued an explanation that, in addition to VAT corresponding to the 2,000 won entrance fee, it pays separate VAT on facility usage fees, but there are still suspicions about whether it is actually paying the appropriate VAT,” urging the tax authorities to conduct a thorough investigation.They also demanded a strict investigation, saying that the Korea Racing Authority has banned credit card payments for betting ticket purchases and treats all betting ticket sales, which exceed 7.6 trillion won, in cash only, raising ongoing concerns about income evasion and tax evasion.

TEST008

Meanwhile, horse racing officials point out that the concerns raised by People’s Solidarity and others—that the Korea Racing Authority prohibits credit card payments for betting tickets and only accepts cash, raising concerns about income evasion and tax avoidance—are contrary to government policy and appear to be an impure attempt to discredit the Korea Racing Authority.In addition, under the horse racing moderation policy, the government legally prohibits not only small purchases but also the use of credit cards at racecourses or off-track betting outlets, and there is growing criticism that, contrary to government policy, the government is making an unreasonable claim that betting must be paid by credit card.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

On the morning of the 29th, civic groups including People’s Solidarity for Participatory Democracy and the Committee for the Expulsion of the Yongsan Virtual Horse Racing and Gambling Establishment held a press conference at People’s Solidarity for Participatory Democracy’s Areumdri Hall in Jongno-gu, Seoul, and announced plans to report to the National Tax Service over suspicions that the Korea Racing Authority is engaging in large-scale, organized tax evasion.They stated, “Since 2013, the Korea Racing Authority changed 30 online horse racing gambling sites nationwide to a designated-seat system and significantly raised admission fees, but there are suspicions that it did not increase the value-added tax accordingly,” adding, “Before and after 2013, the value-added tax displayed on admission tickets was the same at 182 won,” they cited as evidence.

TEST008

Min Geun-il, Secretary General of the Seoul Horse Owners Association, said, "It falls short of expectations. He pointed out that “the absence of a study on the appropriateness of horse racing prize money makes it difficult to accept the results of the commissioned work,” adding, “What matters is in what direction the report will be used.”Choi Bong-sik, Secretary General of the Bukyeong Owners’ Association, said, “The purpose of the research investigation has strayed from its original essence from the very beginning. First, a reasonable pricing method must be established. It was stated that it seems they conducted a research project based solely on the sales-linked method.Ha Jong-su, Secretary General of the Seoul Teachers’ Association, said, “Rather than the result itself, it seems more important to consider what we will do with the result.”

TEST008

He added, “I will actively support the many concerns and opinions shared here today so that they can translate into practical and tangible results,” and urged, “Please do not hesitate to provide the Korea Racing Authority with support for the development of Jangheung County’s horse industry.”Meanwhile, the Korea Racing Authority stated that it plans to implement improvement measures including establishing a cooperative medical care system through a registration system for private veterinarians at each hub, providing clinical training for large animal veterinarians to promote emergency horse medical personnel, and expanding the installation of riding horse breeding support centers for horses, in response to difficulties such as the absence of a specialized horse veterinarian in the area of Jangheung County’s horse producers and the inconvenience of breeding support due to the long distance of Jangsu Ranch.

TEST008

Before the meeting began, KRA Chairman Hyun Myung-kwan said, “Jangheung County is the first local government to sign an MOU with the KRA and hold a meeting to discuss matters related to the development of the horse industry.” He added, “We look forward to hearing valuable suggestions from Jangheung County for fostering the horse industry.”At the meeting, a variety of opinions were discussed regarding the Korea Racing Authority and Jangheung County’s efforts to promote the horse industry.After the meeting, County Governor Kim Seong said, “There are many concerns about the direction of development in the horse industry, which is being promoted as a key project of Jangheung County,” adding, “The Korea Racing Authority’s proposal for the development of Jangheung County’s horse industry was a great help.” He said, “We ask for your continued interest and support for Jangheung County’s horse industry going forward.”

TEST008

Meanwhile, horse racing officials point out that the concerns raised by People’s Solidarity and others—that the Korea Racing Authority prohibits credit card payments for betting tickets and only accepts cash, raising concerns about income evasion and tax avoidance—are contrary to government policy and appear to be an impure attempt to discredit the Korea Racing Authority.In addition, under the horse racing moderation policy, the government legally prohibits not only small purchases but also the use of credit cards at racecourses or off-track betting outlets, and there is growing criticism that, contrary to government policy, the government is making an unreasonable claim that betting must be paid by credit card.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

On the 23rd, a roundtable meeting for discussions on fostering the horse industry in Jangheung County, hosted by the Korea Racing Authority, was held in the Korea Racing Authority’s main conference room.Present at the meeting were Chairman Hyun Myung-kwan of the Korea Racing Authority, Vice Chairman Lee Sang-young of the Korea Racing Authority, Assemblyman Hwang Ju-hong (New Politics Alliance for Democracy, Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee), Jangheung County Governor Kim Seong, and Chairman of the Jangheung County Council Kwak Tae-soo, among others, who engaged in in-depth discussions on development plans to foster Jangheung’s horse industry.

TEST008

The current legal venue fee for over-the-counter sales offices is 2,000 won. However, as the Korea Racing Authority has implemented service provision and a designated seating system, various usage fees are being charged according to the conditions of each off-track betting facility.The Korea Racing Authority stated that it faithfully pays the 10% value-added tax on service fees provided in addition to the admission fee, and that service fees are differentiated based on factors such as per-person occupied area, type of seat, arrangement of ticket machines and monitors, interior quality, provision of additional services (such as snack and beverage information materials), and the unit price.

TEST008

They also said, “The Korea Racing Authority has issued an explanation that, in addition to VAT corresponding to the 2,000 won entrance fee, it pays separate VAT on facility usage fees, but there are still suspicions about whether it is actually paying the appropriate VAT,” urging the tax authorities to conduct a thorough investigation.They also demanded a strict investigation, saying that the Korea Racing Authority has banned credit card payments for betting ticket purchases and treats all betting ticket sales, which exceed 7.6 trillion won, in cash only, raising ongoing concerns about income evasion and tax evasion.

TEST008

Currently, in the Icheon area, 460 horses are being raised on 34 horse-breeding farms, and there are four equestrian centers and one horse hospitalThrough this project, Icheon City plans to improve the aging facilities of the horse industry and qualitatively enhance the breeding and production facilities.It is also planned to create conditions for the horse industry to continue growing steadily by attracting more people to horseback riding experiences linked to the tourism industry.In particular, starting next year, once national government funding is fully provided in connection with the designation of a horse industry special zone, the Icheon area is expected to establish a stronger production infrastructure and various horse industry infrastructures.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

The current legal venue fee for over-the-counter sales offices is 2,000 won. However, as the Korea Racing Authority has implemented service provision and a designated seating system, various usage fees are being charged according to the conditions of each off-track betting facility.The Korea Racing Authority stated that it faithfully pays the 10% value-added tax on service fees provided in addition to the admission fee, and that service fees are differentiated based on factors such as per-person occupied area, type of seat, arrangement of ticket machines and monitors, interior quality, provision of additional services (such as snack and beverage information materials), and the unit price.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

They also said, “The Korea Racing Authority has issued an explanation that, in addition to VAT corresponding to the 2,000 won entrance fee, it pays separate VAT on facility usage fees, but there are still suspicions about whether it is actually paying the appropriate VAT,” urging the tax authorities to conduct a thorough investigation.They also demanded a strict investigation, saying that the Korea Racing Authority has banned credit card payments for betting ticket purchases and treats all betting ticket sales, which exceed 7.6 trillion won, in cash only, raising ongoing concerns about income evasion and tax evasion.

TEST008

On the 23rd, a roundtable meeting for discussions on fostering the horse industry in Jangheung County, hosted by the Korea Racing Authority, was held in the Korea Racing Authority’s main conference room.Present at the meeting were Chairman Hyun Myung-kwan of the Korea Racing Authority, Vice Chairman Lee Sang-young of the Korea Racing Authority, Assemblyman Hwang Ju-hong (New Politics Alliance for Democracy, Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee), Jangheung County Governor Kim Seong, and Chairman of the Jangheung County Council Kwak Tae-soo, among others, who engaged in in-depth discussions on development plans to foster Jangheung’s horse industry.

TEST008

Meanwhile, horse racing officials point out that the concerns raised by People’s Solidarity and others—that the Korea Racing Authority prohibits credit card payments for betting tickets and only accepts cash, raising concerns about income evasion and tax avoidance—are contrary to government policy and appear to be an impure attempt to discredit the Korea Racing Authority.In addition, under the horse racing moderation policy, the government legally prohibits not only small purchases but also the use of credit cards at racecourses or off-track betting outlets, and there is growing criticism that, contrary to government policy, the government is making an unreasonable claim that betting must be paid by credit card.

TEST008

In response to allegations raised by groups such as People’s Solidarity for Participatory Democracy, the Korea Racing Authority explained through a press release that “the Korea Racing Authority is faithfully paying VAT on entrance and usage fees.”The Korea Racing Authority explained that it has been faithfully paying value-added tax on off-track betting venue entrance fees and on off-track betting venue usage fees charged to horse racing customers, and that the entrance fee for off-track betting venues was established in July 2011 based on Article 5 of the Korea Racing Authority Act, and that before the entrance fee was incurred, a separate usage fee was charged to customers who wished to use the member room (2005) or the designated seating area (2008).

TEST008

Before the meeting began, KRA Chairman Hyun Myung-kwan said, “Jangheung County is the first local government to sign an MOU with the KRA and hold a meeting to discuss matters related to the development of the horse industry.” He added, “We look forward to hearing valuable suggestions from Jangheung County for fostering the horse industry.”At the meeting, a variety of opinions were discussed regarding the Korea Racing Authority and Jangheung County’s efforts to promote the horse industry.After the meeting, County Governor Kim Seong said, “There are many concerns about the direction of development in the horse industry, which is being promoted as a key project of Jangheung County,” adding, “The Korea Racing Authority’s proposal for the development of Jangheung County’s horse industry was a great help.” He said, “We ask for your continued interest and support for Jangheung County’s horse industry going forward.”

TEST008

Meanwhile, horse racing officials point out that the concerns raised by People’s Solidarity and others—that the Korea Racing Authority prohibits credit card payments for betting tickets and only accepts cash, raising concerns about income evasion and tax avoidance—are contrary to government policy and appear to be an impure attempt to discredit the Korea Racing Authority.In addition, under the horse racing moderation policy, the government legally prohibits not only small purchases but also the use of credit cards at racecourses or off-track betting outlets, and there is growing criticism that, contrary to government policy, the government is making an unreasonable claim that betting must be paid by credit card.

TEST008

The seat occupancy system (designated seating system) was gradually incorporated and expanded in phases in November 2014, following the Prime Minister’s Office’s “Measures for the Soundness of the Gambling Industry (off-track betting outlets)” plan. The general rooms currently in operation are scheduled to be gradually converted to a seat occupancy system, in accordance with government guidelines aimed at improving the user environment of off-track betting outlets.