Greatest Performance Results
For the first time, Kangwon Land exceeded KRW 1 trillion of revenue and KRW 400 billion of
operating income in 2007, reflecting 23% and 28% of growth year on year for each respectively.
The total number of visitors to our resort also recorded over 3.4 million, the largest ever since its opening.
Successfully Improved Company Brand
On top of these achievements, we have also successfully launched our campaign to build a luxury resort
under the brand "HIGH1" last June. Diverting a negative perception of our casino business,
we now enjoy a new public understanding of our business offering resort facilities for golf,
skiing, hotels and condominiums attracting clients for vacationing, sightseeing, comfort
and the leisure of the pleasure to experience on our property of exceptional value.
Consequently, recognition of our new "HIGH1" resort has grown to achieve a significant brand
preference as well. We are proud of serving over 890,000 clients that visited with us for family events,
demonstrating more than about 180% of growth year on year and a fivefold growth since 2003.
"HIGH1," Korea's Best Brand for Cultural Tourism
Rather than dwelling on these exceptional results, we are moving forward with the four pillars of
our business strategy : "Strengthen Existing Businesses," "Develop Future Growth Engines,"
"Create All Year Round Family Resort Facilities," and "Enhance Brand Power." We will also maximize
the synergies generated from the new businesses we pursue and our existing businesses,
while creating an optimal balance between our profitability and public interest for the region.
Management for Sustainable Growth
Kangwon Land has been strengthening its corporate social responsibility by continuing its community
conscious management. Since establishing its Welfare Foundation in 2003, Kangwon Land has
made a total of KRW 10 billion of contribution to help improve and protect education,
culture, and the neglected within its community once devastated by the closure of mining business.
In addition, the constituents of Kangwon Land have reached out on a volunteering basis to make
our presence even more meaningful. In 2008, we have created "Corporate Social Responsibility
Committee of HIGH1 Resort" to make our activities more efficient and thus effective.
Through these initiatives, among others, we believe that we are successfully building
a cornerstone for our sustainable growth moving forward.
To reinforce the value of resort facilities we offer in casino, skiing, golf, hotels and condominium, we are adding new hotels and condominiums of increased functionality in demand together with Club Spa, Water Polis, and "Woonam Pavilion" to introduce the traditional Korean cuisine with the view to achieve an all year round family resort. Beyond these immediate objectives, we will move forward and make no reservations to become a global resort by developing new growth engines such as E-City, Switch Back Resort, Motor-Sports Family Resort, HIGH1 Complex Town, and Mining Culture Exploration Village. Most importantly, Kangwon Land will present a business paradigm of success combining the virtues of consideration for our shareholders, investors, and community constituents alike, and worthy of trust and respect to ensure a sustainable growth through this year and after.
Thank you.
Ki-Song Cho
President & CEO
