The Korea Racing Authority has contributed 118.8 billion won to the Livestock Development Fund, a key financial resource for enhancing the agricultural and livestock sectors in South Korea. This fund, which has been built over 41 years, now exceeds 3.3 trillion won, primarily funded by 70% of the retained earnings from horse racing activities, particularly through online ticketing services.

The delivery ceremony for the fund took place at Let’s Run Park Seoul, attended by various officials from agricultural and livestock organizations. The contributions aim to revitalize the horse racing industry, which has faced challenges due to the COVID-19 pandemic, by implementing innovative management strategies and expanding online betting options.

Chairman Chung Ki-hwan emphasized the importance of these funds in supporting the livestock industry, while Chairman Lee Seung-ho acknowledged the significant role the horse racing sector has played in advancing agricultural development in Korea, highlighting its impact beyond mere leisure activities.