A Winning Bet: South Korean Racing Developing Into A Multi-Billion Dollar Industry

South Korea is making a concerted push in its quest to become a major force on the international stage in the sport of horse racing, and one of the ways it is beginning to succeed is by doing things a bit differently.

As CNN.com reports, “a two-way process of ‘internationalization' is underway, with leading foreign jockeys and trainers employed domestically and Korean runners beginning to attend major race meetings overseas.” One of the industry's long term plans includes developing two of its premier races – the Korea Cup and Korea Sprint – into international Group/Grade 1 races.

Currently, the Korea Sprint and Cup are worth KRW 1 billion ($890k) and KRW 0.7 billion ($623K) respectively. By April 2022, CNN says their value is set to increase to KRW 3 billion ($2.7 million) and KRW 2 billion ($1.8 million).

In its effort to attract younger fans to the sport, a horse theme park – ‘Whinny World' – opened in the infield at Seoul Race Park in Sept. 2016. The park has played host to several musical acts, and offers such things as pony rides and racing simulation machines as a way to offer an “interactive and inspirational experience,” to “educate families about Korea's horse racing tradition”.

Read more at CNN.com

The post A Winning Bet: South Korean Racing Developing Into A Multi-Billion Dollar Industry appeared first on Horse Racing News | Paulick Report.

DYFD Winter - 300x90

Comments are closed