Targets 20 Million Tourists, USD 24.5 Billion Tourism Revenue by 2024

Date Dec 13, 2023

Prime Minister HAN Duck Soo presided over the 8th National Tourism Strategy Meeting, focusing on: tourist convenience, regional tourism, and industry innovation to shape “South Korea’s Tourism Export Innovation Strategy”

 

<Key Points of “South Korea’s Tourism Export Innovation Strategy”>

 

Strategy 1: K-Culture Linked Tourism Export Enhancement

As part of the Visit Korea Year 2023–2024 initiative, the plan involves expanding group electronic visa fee waivers, increasing limits for immediate tax refunds on duty-free purchases, and improving transportation reservation services and payment methods

Intensive promotion of Korean tourism in 25 international cities through the “K-Tourism Roadshow,” large events such as the Korea Beauty Festival and K-Pop concerts, and the development of related tourism products

 

Strategy 2: Boosting Regional Tourism with Local Content

From 2024 to 2033, approximately KRW 3 trillion will be invested in Busan, Gwangju, Ulsan, Gyeongnam, and Jeonnam to enhance cultural, maritime, and recreational tourism infrastructure as part of the “Southern Region Mega-Tourism Development” project

Development of K-Food belts, representative regional festivals, and stay-over tourism

Establishment of “Regional Tourism Strategy Meetings” and “Regional Tourism Collaborative Bodies” to strengthen governance and cooperation between central and local governments


Strategy 3: Industry Innovation through Convergence and Value Addition

Easing medical tourist visas, selecting Korea’s representative healing tourism destination, opening a new Yeongjongdo resort complex equipped with shopping malls, performance halls, and water parks, and developing package products[1]

Applying the E-9 employment permit system to the hotel and condo industry, expanding “Youth Job Leap Encouragement Fund” support in the travel industry to address workforce shortages

Operating joint inspection teams with public participation to eradicate low-price dumping and overcharging and establishing a “Fair Coexistence Center” for receiving and supporting unfair trade complaints to improve tourism quality

The government announced “South Korea’s Tourism Export Innovation Strategy” during the eighth National Tourism Strategy Meeting, chaired by Prime Minister HAN Duck Soo on December 8 at the Asia Culture Center in Gwangju Metropolitan City.

The National Tourism Strategy Meeting, established under the Framework Act on Tourism, is a government-wide body for establishing and coordinating tourism policies. Chaired by the Prime Minister and involving ministers from 13 departments, this body previously announced the “6th Tourism Promotion Basic Plan” during the Visit Korea Year 2023–2024, targeting 30 million foreign tourists by 2027.

“South Korea’s Tourism Export Innovation Strategy” was discussed in the eighth meeting of the National Tourism Strategy Meeting, which was attended by various government departments, private experts, and stakeholders. The strategy focuses on attracting 20 million foreign tourists and achieving USD 24.5 billion (KRW 32.3 billion) in tourism revenue by 2024, emphasizing enhancing tourist convenience, boosting regional tourism, and driving industry innovation.


1

Government: Prime Minister (Chair), Minister of Culture, Sports and Tourism (Secretary), Ministry of Strategy and Finance, Ministry of Oceans and Fisheries, Ministry of Justice, Ministry of Land, Infrastructure and Transport, etc.

Private Sector (8): YIM Hae Min, CEO of Creatrip, PARK Hyun Bong, Head of the Gangwon Tourism Organization, LEE Jae Woo, Representative of HanaTour ITC, SHIM Jun Beom, Head of Music Content Business at CJ ENM, LEE Yun Kyung, CEO of Channel K, YANG Won Il, Head of JEONJU Tourism Marketing Company Co., Ltd., SHIN Dong Hoon, CEO of Streaming House, OH Daniel, Social Media Reporter for Korea Tourism Organization Operations in 2023

Related Organizations (5): CEO KIM Jang Sil of the Korea Tourism Organization,

 

Chairman YOON Young Ho of the Korea Tourism Association, Chairman OH Chang Hee of the Korea Association of Travel Agents, Vice-chairman KIM Young Moon of the Korea Hotel Association, Chairman SHIN Hyun Dae of the Korea MICE Association 

At the meeting, Prime Minister HAN stated, “Because of COVID-19, the number of foreign tourists, which had exceeded 17 million, drastically dropped to 970,000 in 2021, leading to difficult times for the industry, national, and local economies.” He added, “Fortunately, this year, we expect to surpass 10 million visitors for the first time in four years, indicating a recovery in the tourism market. As such, the government must exert every effort to ensure that our tourism industry achieves its best performance ever by 2024.”

He further instructed, “The government, local authorities, and the tourism industry must collaborate closely to promptly implement the innovative strategies discussed today. The Ministry of Culture, Sports and Tourism should regularly review and adjust these strategies.”

The details of the “South Korea’s Tourism Export Innovation Strategy” discussed today are as follows.

 

For more detail information, please refer to the attached file.. 



[1] For cases where treatment purposes are recognized, the duration of the Long-term Medical Tourism (G-1-10) visa will be extended from one year to two years