Korean Lottery to Go Online Next Year
KOREA (August 22, 2001) -- According to local news sources lottery players' will be able to buy their tickets online through both the Internet and mobile telephones next year.
The Korea Times said that a local Internet lottery vendor 'YesIB' announced yesterday that it will launch an online lottery service in January following the kick-off of trial services at the end of this year. YesIB will run the Internet lottery business on behalf of the Korea Veterans Welfare and Health Corporation (KVWHC).
The KVWHC entrusted the entire digital lottery issuance, management and operations to YesIB.
As safety and stability is the key to the success of online lottery services, YesIB made a consortium and formed alliances with 37 companies with expertise in finance, computer systems, security solutions, marketing and consulting.
As for finance, YesIB joined Chohung Bank, KDB Capital and Samsung Card.
For computer systems, it teamed up with LG Electronics, LG EDS, Locus, and Korea Information and Communications Co.
For security solutions, such as firewalls, YesIB formed alliances with Pass21 and Jang Media Interactive. Samil Accounting Corp., the Korean member of PricewaterhouseCooper, will be in charge of business consulting.
The 'Times' said that in contrast to previous dull online lottery services, YesIB's Internet lottery will introduce entertainment elements by adopting computer games.
The company also said it will provide all types of services presently provided by global Internet lottery providers such as Lotto, Kino, and Numbers.
Also, the Seoul Science Foundation and the Community Chest of Korea are currently preparing to jump into the fray next year, with plans to launch their own lotteries.
Due to Internet lottery's high accessibility-enabling punters to easily purchase tickets through landline phone calls, mobile handsets or the Internet-industry experts predict that it will quickly replace the previously used paper lottery tickets.
Experts added that the Internet lottery market will make up one sixth of the total lottery market next year, roughly 100 billion won. The domestic lottery market will reach 600 billion won next year, government statistics report.
However, a Seoul professor said, ``It is natural for lotteries to go online as the Internet is not only a work tool but a source of fun and entertainment. The problem is that cyber space lotteries are appearing as online gambling, which may entice customers to have vain dreams, longing for a big one-time payoff.''
SOURCE: Korea Times.

Korean 'Plus Plus' Lottery Worth 4 billion Won Launched
SEOUL, Korea (May 22, 2001) -- According to the 'Korea Herald' some lucky person can win up to four billion won in a lottery launched by the Korea Veterans Welfare and Care-face Corporation (KVWCC) yesterday to expand its welfare services.
Titled the "Plus Plus Lottery," KVWCC's first event offers cash prizes in three categories.
The person in possession of the grand-prize ticket will take home one billion won.
Those with a ticket matching the numbers of the grand prize, except the final digit, can win eight hundred million won. The value of the last number, however, must either be one digit higher or lower than the number on the one-billion won ticket. There are two tickets worth eight hundred million won.
The third prize, worth seven hundred million won, works similarly. To win, the value of the final number must be two digits higher or lower than the one on the grand-prize ticket. There are two tickets worth seven hundred million won.
Tickets can be purchased for 2,000 won each at over 30,000 locations, including all Seoul lottery ticket booths as well as ticket windows at Chohung and Nonghyop banks.
The July 29 drawing of the winning numbers will be broadcast on television.
The KVWCC, a government-sponsored organization that provides welfare services to war veterans and other honorable national servicemen, plans to run another lottery this year, and more in coming years.
"We hope to expand our fund through the lottery event so veterans can receive better welfare services from our corporation," said Lee Pil-soo, director of the lottery at KVWCC.
SOURCE: Korea Herald.