The commission seeks the healthy development of the Korean lottery industry via an efficient structure of issuing and selling lottery tickets, as well as preparing an evaluation system for distributing and using the lottery fund in a rational manner.
Since its establishment, the commission has greatly changed the Korean lottery market. Under the catchphrase “Lucky Lottery, Happy Society” the commission’s goal is to make the lottery industry more systematic and sustainable.
Legal basis of the establishment of the KLC
Lottery and Lottery Fund Act, Article 13 (Establishment of the Korea Lottery Commission and its functions) [ Amended, Feb. 29, 2008] (1) The Korea Lottery Commission shall be established to perform duties concerning issuance, management, sale of the lottery, distribution and use of lottery proceeds under the jurisdiction of the Minister of Strategy and Finance.
Major functions of the KLC
- Formulate lottery policies
- Decide on types and prices of the lottery games, total sales amount of lotteries issued, and conditions of the issuance of lotteries
- Deliberate on, and adjust the annual plan on lottery issuance
- Entrust the lottery operation
- Decide on prize amounts per tier and percentage of prize payouts
- Decide on matters relating to lottery distribution costs
- Decide on matters relating to allocation of lottery proceeds and their use
- Formulate basic policies on lottery fund management, establish and modify lottery fund management plan
- Deliberate on, and adjust the plan on the use of lottery proceeds
- Regulate sales of lotteries and lottery advertising
- Protect lottery players and minors