Showing posts with label Korea. Show all posts
Showing posts with label Korea. Show all posts

August 20, 2026

South Korea Orders Nationwide Block on Polymarket Over Illegal Gambling Violations

South Korean regulatory authorities have ordered a domestic block on Polymarket, classifying the cryptocurrency-based prediction market as an illegal gambling service. The Korea Communications Standards Commission (KCSC) announced the decision following a comprehensive review, instructing national internet service providers to restrict access to the platform.

The regulatory ruling centers on violations of South Korea’s Criminal Act and the National Sports Promotion Act. Regulators determined that Polymarket’s operational model – which allows users to wager on the outcomes of real-world events such as elections, sports, and economic data – constitutes the facilitation of an unlicensed gambling venue. The KCSC concluded that the platform’s “winner-takes-all” structure, which relies on events beyond user control, inherently encourages speculative gambling behavior. Localized betting markets, such as wagers on Seoul’s August precipitation levels, were cited as direct evidence that the platform provides a practical gambling environment for domestic users.

Prior to issuing the access block, the KCSC consulted with multiple regulatory and law enforcement bodies, including the Korean National Police Agency, the National Gambling Control Commission, and the Korea Sports Promotion Foundation. These agencies collectively agreed that the platform’s activities met the legal definition of gambling under domestic law. This consensus follows an initial police investigation launched in late May, which scrutinized domestic users suspected of participating in election-related betting on the platform.

During the review process, Polymarket maintained that it operates outside of South Korean jurisdiction. The platform argued that it had proactively removed Korean-language services and disabled payments denominated in the South Korean won. Furthermore, Polymarket highlighted its decentralized, non-custodial structure, emphasizing that transactions are executed via blockchain-based smart contracts rather than through the direct management of user funds.

The KCSC rejected these defenses, stating that technical characteristics and decentralized service methods do not exempt an entity from the obligation to comply with domestic legislation. The committee affirmed that because the platform ultimately creates an illegal gambling environment, access blocking measures are a necessary step to protect domestic consumers.

August 01, 2016

South Korea's Ongoing Battle Against Match-Fixing

It was a plan as clever and successful as Harry Kane taking England’s set-pieces. In May 2012, former South Korea international Kim Dong-hyun was broke and desperate. He enlisted the help of Yoon Chan-so, an ex-pitcher for baseball team Seoul LG Twins and also down on his luck. The plot was hatched.

The pair stole an SUV in the swanky southern Seoul area of Gangnam to tail a swankier BMW. The masked former footballer took the car at knife-point with the owner forced into the passenger seat. She managed to escape at traffic lights, hail a taxi and give chase, all the while reporting her location to the police. The boys in blue soon arrived and caught the hapless former athletes who were, by then, on foot.

Kim’s money issues arose when he was banned for life from playing football owing to his role in a massive match-fixing scandal that came to light in 2011. The ex-striker, who is still just 32, had been a main mover, recruiting younger players to do the bidding of Chinese and Korean gangs.

The other high-profile star of those found guilty was Choi Sung-kuk. The photographs of the diminutive winger, once known as the ‘Little Maradona’ who came close to joining Sheffield United, turning up for work the following year as a hospital receptionist were poignant.


As sad as it was, there was much worse. Two killed themselves as the scandal unfolded, dominating the sports media for weeks. One was Jung Jong-kwan, a former Jeonbuk midfield player, who wrote of his shame in what seemed to be a suicide note found by his body in May 2011. Since the scandal broke, Jung had been working closely with league officials who were devastated at his death. Five months later, Lee Soo-cheol, who had been head coach of K-League team Sangju Sangmu, was found dead in another apparent suicide. Lee had been indicted of blackmailing the parents of a player who was involved in match-fixing.

It was a mess. Few could believe what was unfolding. At first fans refused to do so, criticising journalists for reporting what was going on. As time passed, it became apparent that this was something serious. Players that had initially issued denials started to spill the beans. Soon the government threatened to cancel the K-League, the oldest professional league in Asia, if something wasn’t done.

In the end, over 50 players and coaches, past and present, were found guilty of rigging results. Authorities got busy. Players were banned for years or life. Law enforcement agencies were involved too.

The Korea Football Association knew that, as well as tough punishments, there was a need to educate. In the past there had been complacency, ignorance and naivety. In the future, there could be no such excuses. Young players and coaches were sent to an institution near the central city of Daejeon. International observers were impressed with the program and there has been continued efforts to monitor and investigate.

So any new hints of trouble are taken seriously and when it involves the best team in the country, very seriously indeed.

Jeonbuk Motors have been dominant in South Korea in recent years. A first league title came in 2009, and this season should see a third championship in succession. Throw in more appearances in the Asian Champions League than any other team and an upcoming quarter-final in the tournament, Jeonbuk are one of the biggest teams on the world’s biggest continent. They are also currently under investigation for bribing referees.

In 2015, the former CEO of Gyeongnam FC Ahn Jung-buk, a well-known football figure, was found guilty of bribing referees in order to help his team avoid relegation. It didn’t work.

One of those referees found guilty claimed in May that he had also received money (not much — about $800) from a scout who worked for Jeonbuk.

This was to fix matches in 2013, the one season since 2012 when the team did not win the title. The club says that the scout was working on his own initiative and without Jeonbuk’s knowledge.

Head coach Choi Kang-hee has been in charge since 2005. His 12 years in Jeonju were punctuated by an 18-month spell with the national team from 2012 to 2013 (he didn’t want to take the job but the KFA took him drinking and drinking and drinking until he said yes).

So Choi wasn’t in charge at the time of the said crimes but said in June he will take responsibility if guilt is established. That would probably mean resignation but the club’s general manager Lee Chul-geun said that he is the one who should go instead of Choi. Regardless, punishment is likely.

Gyeongnam, now in the second tier, were given a ten-point deduction. The same sanction would see Jeonbuk move to second, just two points off the pace and still favourites to win the title.

For fans, this kind of thing is troubling. Since the original football scandal, there have been issues with other codes too –baseball, basketball and volleyball.

This does not necessarily mean that Korea’s sports scene is any dodgier than others. After 2011, the country is more aggressive and pro-active at investigating sport corruption than than most — in Asia at least. The first step to dealing with a problem is to acknowledge that there is one in the first place. Many do not.

That may be a small consolation for Jeonbuk fans but short-term pain for them may help to provide long-term gain for Korean football, and sport, in general.



October 21, 2015

North Korea running online gambling sites

According to a new report by the South Korean National Intelligence Agency North Korea is running online gambling websites targeting South Korean gamblers.

At the recent National Assembly audit the National Intelligence Service said that more than 1,100 North Korean computer experts are running online gambling websites from locations such as China, Malaysia along with other Asian countries.

It is estimated that each one of those sites generate a minimum of $20,000 per year in profits, not much singularly but put together makes a lucrative business for the North Korean government. The intelligence agency also believes this could be the tip of the iceberg and much more could be generated they do not know about.

March 17, 2015

Bloomberry to buy south Korean casino resort

Bloomberry Resorts the Philippine gaming compnay said it would be acquiring a South Korean Casino Hotel in its first ever venture overseas. The company said it had purchased 92% of Golden & Luxury Co. Ltd the owning firm on T.H.E Hotel & Vegas Casino on the southern island of Jeju.
T.H.E Hotel & Casino is one of seven casinos located on Jeju island a popular vacation destination for Chinese.

Bloomberry chairman and chief executive Enrique Razon said in a statement. “This is our first venture outside of the Philippines, and the possibilities for expansion in this country are promising.”

Bloomberry owns and operates the $1-billion Solaire Resort and Casino in Manila Bay that the government hopes will rival Macau and Las Vegas. “Solaire is on a trajectory of growth and we are now slightly shifting our focus to other destinations,” said Razon.

December 10, 2013

North Korean leaderpurges his uncle after gambling allegations

The North Korean leader Kim Jong-un has proved that nobody is beyond the reach of his cane, as his once powerful uncle Jang Song-thaek has been purged from his position for crimes that include faction-building, drug use, womanizing and gambling.

The normally discreet North Korean media have reacted to the news by splurging the world’s media of photographic images of Song-thaek as he is forcible removed from his chair, by officials, during a meeting in Pyongyang, North Korea.

It’s not the first time that Kim Jong-un has made changes to the higher echelons of power after the military chief Ri Yong Ho was also removed from office due to ‘ill health’ last year.

“It is the most prominent disgrace of an official in North Korea’s entire history,” Andrei Lankov, an expert on the North at Kookmin University, told the Guardian, “Purges in the past have seldom touched members of the family; the only precedent I remember was in the mid-70s when the brother of Kim Il-sung was removed. As far as I understand there was no official accusation brought against him; he was simply sent to the countryside.

“Secondly, when they have purged people in the past it was mentioned in passing.

“It tells us something about the new leadership’s style: the young man seems really tough and brutal in dealing with people he wants to destroy.”

A report from the Korean Central News Agency (KCNA) said that Jang had ‘seriously obstructed the nation’s economic affairs and the improvement of the standard of people’s living.

“By abusing his power, he was engrossed in irregularities and corruption, had improper relations with several women and was wined and dined at back parlors of deluxe restaurants.

“Ideologically sick and extremely idle and easy-going, he used drugs and squandered foreign currency at casinos while he was receiving medical treatment in a foreign country under the care of the party.”

Somehow you get the feeling that match fixing wouldn’t be a problem in the North Korean DPR League and it is in the UK equivalent.

Let’s Hope Dennis Rodman Doesn’t Understand What Faction Building is

Perhaps, Dennis Rodman has heavily influenced Jang Song-Thaek?

The former NBA star has a CV littered with a history of addictions that would seemingly result in a North Korean incarceration, with the exception of faction building, but that hasn’t stopped the North Korean leader from taking a shine to the guy.

“You have a friend for life,” the leader told Rodman after his first visit to the normally secretive country.

The former wild man will be returning to North Korea on Dec 18th to continue his work with the North Korean national basketball team who will play an exhibition match against former NBA players in January.

The Irish funsters PaddyPower are sponsoring Rodman’s Korean trip, which is not surprising given the fact that the lads in green have worked with the North Korean leader in the past (as shown in the video below)

April 23, 2013

South Koreans gamble $66 billion illegally each year

According to government reports this week in South Korea illegal gambling in the country has surpassed $66 billion for the first time ever, which the government say desperately needs regulation to avoid money laundering by criminal gangs.

The report by the National Gambling Control Commission under the Prime Minister’s Office, say that the illegal gambling market was estimated at 75.15 trillion won ($66.45 billion) in 2012, up from 53.70 trillion won tallied in a similar report in 2008.

The latest figures given are so huge that is accounted for about 20% of the country’s annual budget.

One of the main reasons for the large increase is online gambling and sports betting now accessible to residents in the country, which is estimated at a total of 17.10 trillion won.