The Korea Racing Authority (KRA) is the sole racing authority in Korea by KRA Law, and is under the supervision of the Ministry of Agriculture, Food and Rural Affairs. The KRA aims to contribute to Korea’s national finances through horse racing, and to promote and support projects for fishing and agrarian villages, as well as various social activities, with its earnings.
Racing in Korea dates back to 1922 with the debut of a horse race involving betting held by the Joseon Racing Club, Korea’s first authorised horse racing club. In the century since, the racing and breeding industry in Korea has grown exponentially in leaps and bounds. The Korea Cup and Korea Sprint carrying international Group 3 status for the first time in 2022, and a Korean-bred runner winning the Korea Cup for the first time ever in the same year, are just some of the testaments to the success of Korean racing.
Korea has also hosted three editions of the Asian Racing Conference (ARC) – a major event on the international racing calendar which convenes leaders in racing and sports, along with other influential stakeholders, to shape global and regional agendas for the continuous advancement of racing – in 1980, 2005 and most recently in 2018.
Looking ahead, the KRA aims to achieve the goal of becoming a global Top 5 horse industry leader in 2037.