KRA provides six betting types win, place, quinella, exacta, quinella place, and trio.The minimum bet allowed is 100 Korean won, and the maximum per single bet is 100,000 Korean won.As part of the efforts to preserve the ponies native to Jeju Island, which has been designated as Natural Monument No.
To form a link in the chain of the program so as to make the most of the Olympic facilities, the government designated KRA as the organization that was exclusively responsible for constructing the Olympic Equestrian Park.Accordingly, KRA secured 280 acres of land in the Gwacheon area, the southern outskirts of Seoul, and began the construction of the park in 1984.After the Olympics, the Olympic Equestrian Park was converted into a racing facility named "Seoul Racecourse," and the first race in such facility was held on September 1, 1989.With the opening of the Seoul Racecourse, the 36-year-long era of the Ttukseom Racecourse came to an end, and the nation's horse racing continued to make great strides.The basic structure of Korean thoroughbred racing consists of a binary system of domestic and foreign-bred horses.
Taking other conditions into account, such as prize money earnings and age, the races are further divided.
This year, there were 13 Grade Races(eight in Seoul, five in Busan-Gyeongnam).
KRA holds exclusive rights over the racing operations and on- and off-course wagering within Korea.
The Korean War, however, which broke out in 1950, resulted in great turmoil for the Korean society, thus undermining the development of horse racing.
Worse yet, during the three-year war, racecourses were used for military training and horse racing came to an abrupt halt.
To keep the tradition of horse racing alive, KRA worked out a plan to reestablish the racecourse at Ttukseom in Seoul.