Korea

www.company.kra.co.kr

History

Horse racing in Korea can be traced back to May 1898 when a government-run foreign language institute included a donkey race in its athletic meet. Cavalrymen's horse racing was later held on occasion. This type of racing was sponsored for entertainment purposes only without any wagering taking place.

Joseon Racing Association

It was in 1920 that "modern" horse racing involving betting made its debut and the Joseon Racing Club, the nation's first-ever authorized horse racing organization, was established in 1922, to ensure that horse racing would be more systematic and better organized. In 1923 the pari-mutuel betting system was officially adopted for the first time in Korea. And in 1928 the Sinseol-dong racecourse opened, and incorporated racing clubs were allowed to have their own racecourses.

Finally in 1933 a decree on horse racing was promulgated. Under the decree, only the incorporated racing clubs were entitled to conduct horse racing. The Joseon Horse Racing Association was established in 1933 to coordinate and control incorporated racing clubs across the nation and to ensure consistency in their administration. Also at that time, government policies were introduced in order to control horse racing and breeding. Under the Joseon Horse Governing Policy, first implemented when the 1937 Sino-Japanese War was declared, three racing clubs were newly established at Hamheung, Cheongjin and Onggi, bringing the total number of the nation's incorporated racing clubs to nine.

The decree on the Joseon Racing Association was promulgated in February 1942. In accordance with the decree, nine racing clubs and the Joseon Racing Association were dissolved, and the newly inaugurated Joseon Racing Association was put solely in charge of horse racing management and control in Korea. As of early 1945, races were held in four racecourses in Seoul, Daegu, Busan and Pyongyang.

With the national liberation from the 36-year-long Japanese colonial rule in 1945, the Joseon Racing Association was renamed as the Korea Racing Association and efforts were made to restore national identity in horse racing.

Ttukseom Racecourse

However, the 1950 Korean War and continued social unrest resulted in great turmoil for Korean society, thus undermining the development of horse racing. Due to the Korean War and the ensuing territorial division, only four racecourses in Seoul, Busan, Daegu and Gunsan were available for South Koreans. Worse yet, during the three-year Korean War racecourses were requisitioned for military training or activities and horse racing came to an abrupt halt.

To keep the tradition of horse racing alive, the Korea Racing Association worked out a plan to establish a racecourse at Ttukseom on the outskirts of Seoul. Construction, which began during the war, was completed in May 1954. With its dedication, horse racing was resumed, and the newly constructed racecourse served as the hub of Korean horse racing until it was relocated to the modern racecourse in Gwacheon in 1989.

The decree on the Joseon Racing Association, promulgated in 1942, served as a legal base for horse racing until the early 1960's. The Korea Racing Association law, introduced in 1962, marked a turning point in the development of horse racing in Korea. It laid the foundation for the development of authentic Western-style horse racing in Korea.

A unique system of racehorse ownership was adopted at that time, under which both private investors and the KRA had the right to field horses to the race. However, the system naturally complicated the KRA's operation and the entry procedures for racehorses. In 1972, measures were taken to put the entire facilities and operation system under the control of the KRA. The KRA also took over all racehorses. According to the system which remained until 1993, the racing authority had exclusive ownership of all racehorses.

The 1970's were another turning point in the development of Korean horse racing. The horse racing business, which had been plagued by financial losses since 1945, was gradually able to improve its standing. Efforts were also made to ensure the integrity of horse racing.

Pari-mutuel bets were tallied manually before 1983. The inefficient management of pari-mutuel betting activities was a major stumbling block to broadening the base for the racing public.

To overcome this fundamental obstacle, the pari-mutuel betting system was computerized in 1984, and at the same time, horse racing came to be televised in color. These two measures have played a decisive role in increasing attendance and turnover.

Since the computerization of the pari-mutuel betting system, turnover and attendance have continuously increased. In 1984, for instance, turnover and attendance increased 67% and 58%, respectively, from the previous year.

Seoul Racecourse

As part of the efforts to ensure the continued utilization of the Olympic facilites, the government designated the KRA as the organization exclusively responsible for the provision of the Olympic Equestrian Park, on condition that it would be converted into a racecourse after the Olympics.

Accordingly, the KRA secured some 1,155,000 square meters of land in Gwacheon on the southern outskirts of Seoul, and constructed the Olympic Equestrian Park from 1984 through April 1988. After the Games, a part of the Park was converted into racing facilities and the first race was held here on September 1, 1989. With the opening of the Seoul Racecourse, the 36-year-long era of the Ttukseom Racecourse came to an end and the nation's horse racing continued to make great strides.

Opening of Jeju Racecourse

Horse racing in Korea, which made remarkable quantitative growth in the 1980's, has ushered in the 1990's with a great hope. The overall revision of the KRA Law in August 1990, which reflects the changes in social environment, has provided the framework for the development of the horse racing in Korea.

As a part of the efforts to protect the ponies native to Jeju Island, which has been designated as Natural Monument No.347, the KRA began the construction of the 657,000 square meter Jeju Racecourse at the foot of Mt.Halla in October 1987. Three years later in October 1990, the Racecourse opened for pony racing.

Effective January 27, 2001, the KRA was placed under the control of the Ministry of Agriculture & Forestry which will provide another turning point for the takeoff of horse racing in Korea as a popular leisure sport. The KRA is pushing ahead with the project to open the second local racecourse in Busan area in 2005. Overall, the 2000's will witness the opening of the era of "the full-fledged provincial horse racing".

Name of Racing Authority: Korea Racing Association

Postal Address: 685, Juam-dong, Gwacheon-si, Gyonggi-do, Korea

Tel: (822) 509-1221/2 Fax: (822) 509-1219

E-mail: inter@kra.co.kr

Web Site: www.kra.co.kr

Chairman & CEO: Lee, Woo-Jae

Executive Vice President: Chang-Jung, PARK

Executive Director of Administrative Support: Jin-Yong, KIM

Executive Director of Racing: Jung Keum-Suk

Executive Director of Business: Byong-Dae, MIN

Executive Director of Jeju Racecourse: Sang-Ki, NAH

Senior Steward: Jae-Nam, KIM

Contact for Overseas Liaison / Information: Yang-Tae, PARK (Senior Manager of International Relations)

Racecourse:

Seoul Racecourse, 685, Juam-dong, Gwacheon-si, Gyonggi-do, Korea

Tel: (822) 509-1221/2, Fax: (822) 509-1219

Jeju Racecourse, 1206, Yoosuam-ri, Aewol, Bukjeju-gun, Jeju-do, Korea

Tel: (82) 64-741-9240, Fax: (82) 64-741-9515

Statistical:

Racing season from January to December

Principal Races:

Total Prizemoney (Local Currency - Korean Won):

57,303,428,000 - Provided by Korea Racing Association

Average Prizemoney Per Race (Total): 51,255,000

Total Betting Turnover / Year - 5,509,072,287,000

On Course - 1,621,665,062,000 (29.4%)

Off Course - 3,887,407,225,000 (70.6%)

Principal Bet Types - Win, Place, Quinella, Exacta

Betting Deductions - Govt Tax (%) 18%

Retained by Authority (%) 10%

Breeding (2001)

Total number of stud farms: 2 (Breeding farms - 92)

Total number of stallions: 32

Total number of mares: 1,234

Total number of thoroughbred births / year: 735

Report on Racing Activities

Each year, races are held on both every Saturday and Sunday with some exceptions for national holidays. In 2001, a total of 95 race days were held at the Seoul Racecourse and racing normally starts at 11:00 A.M. An average of 12 races are conducted on each raceday with an interval of 30-35 minutes between races.

In September 1989, night racing was held at the Seoul Racecourse for the first time in Korea. It turned out to be a resounding success. The purposes of night racing are to provide opportunities for those working by day to enjoy horse racing, to provide racing fans with somewhat different racing atmosphere, and to protect racehorses from the scorching heat of a summer day. Normally, night racing is conducted in late July and early August.

Type of Races

Only flat races of thoroughbreds are held at the Seoul Racecoure. These races include plate races where the prize money consists of added money only and stakes races where the prize money consists of all stakes money paid by the owners and the added money. Also, there are special races that are held according to age, sex, and prize money earned. Today, at the Seoul Racecourse, about 20% of all races are conducted as handicap races to encourage competition and excitement with limited numbers of racehorses.

Racing System

The basic structure of racing in Korea is a combined system of foreign-bred and domestic-bred horse racing. According to this system, foreign-breds are divided into 4 classes and domestics-breds are divided into 5 classes by their earnings. Another important factor in programming races is their age and sex.

Race distances range from 1,000M to 2000M including 1200M, 1400M, 1700M, 1800M, 1900M.

Prize Money

To encourage horse owner and to steadily improve the quality of racehorses, the KRA has recently been raising prize money significantly. The added money paid by KRA is awarded to the first five finishers, while the entry fee contributed by the owners in stakes races is paid to the first three finishers. There is no prize money furnished by sponsorship in Korea.

Pari-mutuel betting

The pari-mutuel betting system in horse racing has been implemented in Korea since its inception in 1923. However, bookmaking is prohibited by the Korea Racing Association Law. Under the law, the KRA itself controls and operates both on-course and off-course pari-mutuel betting systems.

Currently, a total of 2,073 betting terminals are installed at the on-course and off-course betting(OCB) branches. All the sales and pay-off activities are under the direction and control of the Pari-mutuel Betting Control Center, located in the Seoul Racecourse. The unit bet is 100 won, regardless of the types of betting, and a pari-mutuel ticket can have a maximum face value of 100,000 won.

At present 4 betting types, win, place quinella, and exacta are available and new betting type(Quinella Place) will be introduced in the near future in Korea. From the betting turnover, KRA deducts the government betting duty and its own commission and the remaining balance is paid out as dividends to the winning punters.

Recently, the popularity of account betting is rapidly increasing. Betting amount from account betting accounts for more than 7% of total turnover and 731 touch screen account betting terminals are installed in the racecourse and off-course betting centers.

To start with the account betting was utilized only by the visitors to the racecourse or off-course betting branches but this system has been further developed in the form of a telebet system to make betting available at home or office, starting from November 1996. Betting through personal computer and mobile phone will be employed in the future.

Owners, Trainers, and Jockeys

All owners are registered with the Korea Racing Association. Trainers and jockeys are issued with licenses by the KRA and these licenses are reviewed and renewed annually by the KRA.

Currently 457 owners are registered at the Seoul Racecourse, and individuals, partnerships or corporations are allowed to own racehorses as they commonly do in other countries. As horseracing becomes increasingly popular in Korea, it's expected that the number of candidates for racehorse ownership will continue to increase in coming years.

Trainers should be licensed by the KRA and work under contract with owners. There are currently 52 trainers in the Seoul Racecourse. The license test evaluates the applicant's qualifications, including his skills in the art of equitation, training techniques, hippology, his knowledge of racing rules, physical fitness and conduct. Presently, most trainers are ex-jockeys, riding instructors, assistant trainers or workout grooms.

As of 2001, a number of 93 jockeys are licensed to ride in the Seoul Racecourse. To ride in the race, one should complete the two-year course at the jockey training school of the KRA and then pass the jockey license test. Those who have passed the license test become apprentice jockeys. Unless specified in a race, an apprentice is entitled to claim a set weight allowance : 3Kg until he has won 20 races, thereafter 2kg until he has won 30 races, thereafter 1kg until he has won 40 races. Any apprentice who has ridden more than 40 winners becomes regular jockey. A jockey retained to a particular trainer(stable) rides the horse from the assigned stable, although stable jockeys still can ride horses from other stables.