Korea’s integrated resort industry is facing pressure as the government pushes to raise the tourism development fund levy from 10 percent to 15 percent of total revenue. At a Korea Times roundtable on Wednesday, executives and experts said the revision of the Tourism Promotion Act could hurt expansion and competitiveness. The ministry is also seeking a five-year license renewal system and prior approval for business ownership transfers. Participants urged regulatory relief and a longer-term policy approach.
Participants in The Korea Times' roundtable discussion pose for a photo at the newspaper's headquarters in Seoul, Wednesday. From right are Lee Jae-seok, a professor in the department of tourism management at Kangwon National University; Kim Ji-hoon, an adviser at law firm Shin and Kim; Jeong Kwang-min, a research fellow at the Korea Culture and Tourism Institute; Seo Won-suk, president of the Tourism Sciences Society of Korea; Lee Jong-myoung, executive director of the communications department at Paradise; Kang Dae-suk, assistant vice president of legal and government affairs at Inspire Entertainment Resort; Kim Jae-kyoung, vice president of The Korea Times; and Kim Eun-ju, researcher at the Tourism Sciences Society of Korea. Korea Times photo by Shim Hyun-chul
