eTN Asia, 12-10-2006
The Seoul Metropolitan government has shared plans to strengthen the city’s business and tourism infrastructure to achieve the same.
On the target set, Seoul Mayor Oh Se-hoon referred to the 2008 Olympics in Beijing and the 2010 World EXPO in Shanghai, which the official felt would provide the country great opportunities to expose the city internationally.
The increased number of foreign visitors will create 200,000 new jobs, as per the projections shared by city officials with The Korea Times. The report added as part of a four-year, 27.7 trillion won ($29 billion) urban development plan aimed at making Seoul a “top 10 world city,” the city promised further investment in developing more leisure and tourists attractions in downtown areas and strengthening the infrastructure for the convention sector to lure more business travelers.
Among initiatives, there are plans on the anvil to reduce the tax burdens for hotels and other businesses in the lodging sector, which currently charge customers value-added tax (VAT). Recently, a 253 million won urban development project, “the Han River Renaissance,” focused on turning the Han River into a major tourist attraction through 2010 by improving its accessibility, strengthening its culture and tourist infrastructure and adding more green areas on its embankments.
The Ministry of Culture and Tourism is working to effectively improve the quality of life in Korea, to promote culture and tourism industries in the globalization process, and to make Korea more competitive in international sports.
