Making news

ASEAN boosts RoK’s investment in tourism

A seminar on ASEAN-Republic of Korea tourism investment took place in Seoul on June 8 to provide up-to-date information on investment environment and opportunities to invest in tourism industries of the 10 ASEAN member states.

Opening the event, Lee Hyuk, Secretary General of the ASEAN-Korea Centre, said this is a practical activity to boost Korean investment in ASEAN tourism and build a network for the prosperity of ASEAN and the RoK.

It will help improve the competitiveness of ASEAN’s tourism and ensure the sustainable development of the industry in the region, he said.

Lee held that tourism boots economic growth and creates jobs and conditions for ASEAN to develop. In addition, tourism also opens up a wide range of opportunities for investment collaboration and draw big attention from potential investors from all over the world, including those from the RoK.

According to him, tourism is one of the key drivers of the ASEAN economy. In 2017, the ASEAN member nations recorded a total of 120 million international arrivals. It is estimated that tourism contributes 12.4 percent of GDP in the bloc, which is about four percent higher than other regions in the world.

At the seminar, which saw the participation of around 300 government officials and representatives of companies, Korean investors shared their experience in investing in tourism development projects in ASEAN.

Besides the seminar, the ASEAN-Korea Centre is also organising an exhibition aimed at promoting ASEAN tourism from June 8-10 in Ilsan city, the Republic of Korea.

Last year, 9.5 million RoK tourists, or one third of the total Koreans travelling abroad, came to the 10 ASEAN member countries. ASEAN has become the most favourite destination for Koreans thanks to its unique cultures and beautiful landscapes.