SOUTH KOREA

CURRENCY: Won (KRW).

EXCHANGE RATE: KRW 892.05 = US$1.

OFFICIAL LANGUAGE: Korean.

POPULATION: 37,500,000.

CAPITAL: Seoul.

INTERNATIONAL CODE: TELEPHONE 82.

CURRENCY CONTROLS: The Won is not convertible abroad.Its import and export is limited to KRW2.0 million.However, all gaming is in Korean valued chips, but chips can be bought only with foreign currency.The casinos provide currency exchange services.Patrons may export their winnings in foreign currencies.Foreign currency import is free but must be declared if it exceeds US$ 10,000 or equilvalent.Foreign curreny export is free up to the equilvalent of US$ 2,000.More can be exported if registered on foreign exchange registration certificate.Reconversion of the Won is free, with proof of exchange.

GAMING INFORMATION: There are 13 casinos operating in international tourist hotels in South Korea.Casino gambling is restricted to non-Korean visitors.Ninety per cent of the gamblers are Japanese; the other ten per cent is comprised largely of Americans, Taiwanese, and Hong Kong highrollers.The minimum age is 20.The government owns and operates the slot machines.Slots must be in rooms separate from the table games.The government receives the slot machine revenues and casino entrance fees.The casino operator receives the revenues from the table games.There is little government regulation and no audits.