South Korea has decided to prolong the visa fee exemption initiative for Chinese group travelers, extending it until the end of 2024. Initially implemented in September, the existing program, waiving the standard $15 fee for these travelers, was initially set to expire at the end of the current year.
The decision was announced by South Korean Prime Minister Han Duck Soo during the 8th National Tourism Strategy Meeting.
According to reports, as a component of the Visit Korea Year 2023–2024 initiative, the strategy also includes raising thresholds for immediate tax refunds on duty-free purchases and enhancing transportation reservation services along with payment methods.
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.”
INSPIRE Resort aims to attract 3.5 million visitors via K-pop-related events
Mohegan INSPIRE Entertainment Resort said that the firm aims to become the country’s most extensive entertainment destination, projecting to draw 3.5 million annual visitors by harnessing the escalating global allure of K-pop and K-culture, the resort announced on Wednesday.
INSPIRE Entertainment Resort is the first integrated resort from the Mohegan Group. The property, located in Incheon, had its soft opening on November 30.
The entertainment complex’s standout feature is its arena, Korea’s inaugural indoor multipurpose performance venue, poised to revolutionize the concert experience in the country, as stated by Jamie Jang, the arena’s general manager.
Jang also revealed that approximately 60 percent of the hosted events will consist of music concerts, with the remaining 30 percent allocated to indoor sports, and 10 percent dedicated to corporate events.
The company anticipates an annual revenue surpassing KRW 50 billion won ($37 million) from the arena, aiming to make a substantial impact on the KRW 1 trillion ($758 million) concert market in the country. Additionally, it seeks to boost the local economy on Incheon’s Yeongjong Island by attracting more consumers.
