Licenses to sell Lotto lottery tickets will be withdrawn from three major convenience store corporations as early as next year, said the government on Tuesday.
The Ministry of Economy and Finance said it will revoke the sales rights for Lotto -- the most popular offline lottery here -- from three convenience store corporations -- GS25, CU and Cspace. It is unclear when the measures will be implemented, but recent reports said that ministry officials are considering a grace period for the companies.
The decision was made reportedly in a bid to ensure that Lotto sales will serve its founding purpose to aid the socially vulnerable.
Starting in 2004, the government has been giving priority for Lotto sales to the socially vulnerable such as the disabled, single-parent family households and low-income family members. But the major convenience store chains have been selling lottery tickets since 2002, when Lotto was first introduced in Korea.
By Yoon Yeun-jung (firstname.lastname@example.org)