Probably because of stuff like this: http://calvinayre.com/2015/10/21/cas...eir-own-peril/

South Koreans face up to three years in prison for gambling while overseas

Jeong isn’t the only top business exec in hot water. Last week, reports circulated that the Seoul Central District Prosecutors’ Office was preparing to charge Kim Beom-soo, chairman of telecom firm Kakao, with gambling overseas. Prosecutors reportedly received documents from the US Department of Justice indicating that Kim engaged in some high-stakes gambling on multiple occasions at casinos in Las Vegas between 2007 and 2013.

Gambling is not illegal. It's the foreign currency exchange law that got Jeong in trouble.


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I thought that was Holic?


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So how does one gamble overseas without breaking the foreign currency exchange law? Just bring your own US dollars to gamble with?

I wonder if the same charge pertained to these Korean baseball players:

Article from January-

http://calvinayre.com/2016/01/04/spo...for-mlb-talks/

Oh, a relief pitcher for the Hanshin Tigers, was dragged into an illegal gambling hullabaloo for allegedly wagering millions of won in Macau in November 2014.

Last week, the prosecution asked a local court for a summary order against Oh and Korea Baseball Organization (KBO) club Samsung Lions veteran pitcher Lim Chang-yong and a fine of seven million won (US$5,970) each, Yonhap reported.

Prosecutors concluded that Oh and Lim were not a habitual gambler and that the incident, during which the two were suspected of gambling 40 million won, was a one-off lapse.

Last month, the Korea Baseball Organization (KBO) club Samsung Lions released veteran pitcher Lim Chang-yong after he was grilled by prosecutors over similar suspicions. Lim also admitted to gambling in Macau but denied he bet as much money as what the gambling house owner claimed.

The KBO will hold a disciplinary committee hearing in the coming weeks to discuss Lim’s additional punishment.

Two of Lim’s former Samsung teammates, pitchers Yun Sung-hwan and An Ji-man, are also facing gambling charges.

Baseball guys wired Korean Won to gangsters' shill account in exchange for the equivalent amount of foreign currency, in this case HKD, to gamble with.

This transaction broke the foreign currency law, as it was not reported to the proper department.

To answer your original question, if you have lots of unreported liquidity overseas, then you are fine. Plus, South Korean Law considers it gambling if a person participates in a game of luck/skill with more than 10% of his/her assets.

For example:

EdgeLooker has 1,000,000 USD Liquidity + some properties. He decided to play HU with Syous with 100,000 USD. = Gambling

If EdgeLooker decides to play HU with AguaPorFavor for 10,000 USD = Not Gambling




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Public figures (Baseball Players)with taboo activities, such as gambling, do not want to be seen as it could jeopardize their professional contracts and potential punishment from the league officials.

Those baseball players wagered wayyyy more than 40 mil Won.

More like 700 million won+ and they won but they were not paid since gangsters who ran the junket room decided to blackmail them in case they won.

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Thanks AguaPorFavor,

I also just found Korean Law, Chapter 23, Article 246, Crimes Concerning Gambling and Lotteries

Article 246 (Gambling, Gambling)
(1) A person who gambles or bets for the purpose of gaining property shall be punished
by a fine of not more than five million won or a minor fine: Provided, That gambling which is just for momentary pleasure is exempted. <Amended by Act No. 5057, Dec. 29,1995> (Kangwonland exemption)

Therefore, I would think vacations to Las Vegas, Macau, etc, would be fine. Just keep the momentary pleasure amounts under the radar, lol.

Even if you get caught, just hire yourself a lawyer, who is a leave as a prosecutor or a judge. Those lawyers get deals made more easily.

I just know the system well enough.

Contact AguaPorFavor for your legal troubles!


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Damn it's scary people know such things hahaha

That place never got busted though.

You have no idea who I am, do you?

LOL


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haha so good

---------------

As for that law, man that's kinda open ended - how do you define pleasure vs. gambling with the INTENT of earning property?

My cousin's born and raised in Seoul and is a non-gambler, his and I'm assuming many other koreans, believe that it's flat out illegal for Koreans to gamble

In his words "even if we went to Mars, it's illegal to gamble there"

All Koreans are subject to Korean law based on personal (nationality) principle. Yeah, it's illegal for Koreans to gamble even in Mars.


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There's also been cases of Koreans arrested after admitting they smoked weed abroad.

I have absolutely zero idea who you are hahaha

wowwwwwwww

If you got any beef with a Korean friend, just smoke weed before he/she goes back to Korea. Call airport security with persons name and the flight numer. Voila


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Congrats to Albert Paik for taking down APPT10 Seoul for ₩119,097,600!

Thats a sweet ROI for winning his ME seat thru the 330k satty!

http://www.pokerstarsblog.com/en/blo...p-162279.shtml

http://www.pokerstarsblog.com/en/blo...s-162272.shtml

Friend mentioned to me the other day that he never seen so many poker players in one place where not even one player was wearing a baseball cap, had his hoodie up, or had sunglasses on. lol. (All 3 not allowed at WH obviously) Just checking out the WSOP updates, and almost every pick has one or more of these 3 items.

It does make me wonder why if its such a security concern for WH, then why do so many other casinos outside of SK still allow it? I understand its all about being able to see patrons faces of course, but even 7luck still allows baseball caps.

At least we can still use dust masks.

We weren't allowed to wear hats. I was the only kid who had a hoodie. No one else was wearing a hoodie there. Uhhh and like 2 people wore sunglasses. Most of the asians who had sunglasses just wore them on their t-shirts. I trolled some of them in big pots saying they should wear them or I might get a tell off them.

God bless Korean National Health Insurance + Supplement Health Insurance.

Was charged for like 3000 bucks. I only paid 20 bucks for the whole deal.




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Good to hear Agua! I know their prescriptions are dirt cheap as well.


Ref the article on Albert Paik:

Albert Paik has had a great week at the tables here in Seoul, he begins this final table out in front with 952,000. He started playing in high school back in the United States, but after college he relocated to right here in Seoul. Paik learned the game watching training videos and playing online and these days he mainly plays $500-$1,000 cash games. He tells us having only played daily tournaments before this will by far be his greatest result.

I'm guessing those are buyins and not 500/1000 ring games?

Pros:
10 minutes walk from home
Softest game ever
2/5 deep
5 second shot clock on all decisions.
50+ hands an hour
$10 max rake per hand

Cons: illegal as hell in a shady room with no signage behind a locked door with a video camera above it.

So tempting, but so nervous about it. Certainly not like the old days when they'd stick their signs advertising Texas Hold'em right out on the street.

That sounds fun as hell. I'd play if I could speak even the slightest Korean and felt safe lol.

You have no idea how annoying 5 sec shot clock is.


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In case anyone is interested, 7luck has an Online 7luck Roulette Event going on.

You just have to log in once a day online to get credit for "attendance". You get a coupon on the 7th, 14th, 21st, and 28th day of attendance. Each is worth a 20k, 30k or 50k kw free chips coupon. Even though its called a free chips coupon, its probably more like a free bet coupon, where if you win you only get the value of the coupon, i.e. bet 20 coupon on red, if red wins you get 20 in chips and they take the coupon.

Just a reminder, their is a Bounty Trny at WH this Saturday.

I also hope everyone is qualified to play in the 2nd $1M freeroll. Get that free $5 for sitting out, lol.