Kangwon Land Inc could pay the equivalent of up to six percentage points extra relative to its pre-tax profit, under a proposal that would see the operator of South Korea’s only casino for locals have its gaming licence extended for 20 years, to 2045, says banking group JP Morgan. Currently the operator’s licence is due to expire in 2025, according to the financial institution. JP Morgan queried whether the trade-off represented a “carrot and stick” approach by lawmakers. A committee of the country’s National Assembly proposed on Tuesday that the law that allows operation of the Kangwon Land resort, which is located in an upland area outside the capital Seoul, should be amended to allow for the longer licence.