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As the second business http://horsesite88.com agreement period with Jeju Special Self-Governing Province ended on December 31 this year, the Korea Racing Authority signed the third business agreement at Samda Hall on the second floor of the provincial government on the afternoon of the 16th. Through this third agreement, the Korea Racing Authority will increase the number of relay races in Jeju racetracks from 320 times a year (the second agreement period) to more than 430 times, and Jeju Island will reduce the leisure tax reduction rate by 2 percentage points from 25 percent to 27 percent.Last year, Jeju's revenue from Jeju's relay race amounted to 53.2 billion won (53.2 million U.S. dollars), accounting for 65 percent of Jeju's 81.7 billion won in local taxes, and 63 billion won is expected this year. Jeju expects to increase its revenue by more than 1 billion won due to the expansion of the race.

The Korea Racing http://horsesite88.com Authority's push to host the Korea Cup International Invitational Race is included in the horse racing innovation measures already announced in 2007 as part of the internationalization that has been steadily pursued. At that time, the goal was to promote international racing in three stages from 2015 to 2016. In addition, the mid-term innovation goal of the Korea Racing Authority's first horse racing innovation plan this year included the hosting of the Korea Cup in 2016. Already, the Korea Racing Authority has held the Asia Challenge Cup this year and held an international race involving Japan and Singapore.If this year's Asian Challenge Cup was a half-way international race only played by Asian countries such as Japan (racehorse belonging to the Oi Racecourse) and Singapore, the Korea Cup, which will be newly established next year, is expected to be an international race in name and reality.

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Regarding the http://horsesite88.com introduction of a fixed rate system for horse racing prize money, which has not yet reached a complete agreement, the Seoul Racing Association intends to first realize it and discuss the conversion of the fixed rate system as the current amount of horse racing prize money is set lower than the actual input cost of the opponent, such as not properly reflecting the actual 1,800 heads of race horses and 890 heads of annual introduction. Among the minor changes, the Korea Racing Authority initially proposed to increase three races in 2016, eight in 2017, seven in 2018, and 10 in 2019, but through consultation, it agreed to increase one listed race at the Pukyong Racecourse in 2016, one listed race in Pukyong in 2017 and one grade race in Seoul in 2018.

It was a time to think http://horsesite88.com about the common part of Korean horse racing and talk head-to-head."Given that the prize money for horse racing is expected to remain unchanged next year from this year, the Korea Cup and the Korea Cup Sprint international invited races, which will cost 1 billion won and 700 million won, are expected to become the best horse racing competitions in Korea. "We have Hong Kong, the U.S. and European countries in mind, in addition to Japan, Singapore and Dubai, which have been quarantined for the first time," said an official from the Korea Racing Authority. The number of invited races will be less than eight, and there will be no special restriction on qualifications. The committee will be formed to select candidates for domestic as well as foreign racehorses.

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In addition, the Korea http://horsesite88.com Racing Authority will use the resources raised by the leisure tax reduction to promote the improvement of Jeju horse racing facilities and the strengthening of functions. The abolition of the purchase ceiling for foreign horses is because the Seoul Horse Racing Association argued that the price limit needs to be verified for a certain period of time as the purchase ceiling has been raised to $50,000 this year, and that it is impossible to abolish or raise the price limit until the competitiveness of domestic horses is secured. The Seoul Horse Racing Association also strongly opposed the mountain horse integration race, saying that the competitiveness of domestic horses was revealed as the first and second-class mountain integration races, which have been implemented since this year, showed poor performance as feared.

Chairman Hyun Myung-kwan http://horsesite88.com said at the general meeting of the management strategy meeting, "I would like to thank all employees once again for their hard work at the end of 2015," adding, "In 2016, we will promote management innovation with customer satisfaction as the top priority, and we will make sure to create tangible results by teaching on the other hand, not only this year's performance but also the somewhat sluggish areas in the business promotion." Meanwhile, employees of the Ma Association and related organizations who attended the management strategy meeting said, "The overall evaluation seems to have improved as the management strategy meeting where everyone attends has been repeated. It seems that there is a sense of responsibility that everyone participates in management together, not the Ma Association, which is driven by some management.

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In addition, the Korea http://horsesite88.com Racing Authority will use the resources raised by the leisure tax reduction to promote the improvement of Jeju horse racing facilities and the strengthening of functions. The abolition of the purchase ceiling for foreign horses is because the Seoul Horse Racing Association argued that the price limit needs to be verified for a certain period of time as the purchase ceiling has been raised to $50,000 this year, and that it is impossible to abolish or raise the price limit until the competitiveness of domestic horses is secured. The Seoul Horse Racing Association also strongly opposed the mountain horse integration race, saying that the competitiveness of domestic horses was revealed as the first and second-class mountain integration races, which have been implemented since this year, showed poor performance as feared.

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In response, the Seoul http://horsesite88.com Racing Authority opposed the plan, but since foreign horses recruited this year are not actively engaged in due to lack of understanding of Korean horse racing and poor horse racing environment compared to foreign countries, there will be no problem of great concern even if foreign horses are recruited, and they agreed to expand gradually but maintain up to 10% after the opening of Yeongcheon Racecourse.Meanwhile, next year's ranking prize money distribution ratio was agreed to increase from the current 55% to 56%, and to 57% in 2017.

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