Assemblyman Lee Byung-hoon Proposes Amendment to Support Tourism Businesses Affected by Natural Disasters and Infectious Diseases

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Congressman Lee Byung-hoon (The Democratic Party of Korea·Gwangju Dong-gu Nam-gu Eul) announced on the 15th that he has taken the lead in proposing the “Tourism Promotion Development Fund Act Amendment” to allow support for damages to tourism businesses caused by natural disasters or infectious diseases through the Tourism Promotion Development Fund.

Last year, the total damage to the entire tourism industry, including travel agencies, hotel businesses, and amusement facility businesses, was estimated to reach 16.6 trillion won.

The number of foreign tourists visiting South Korea also decreased by about 2.5 million, down 85.7% compared to the previous year, resulting in a decrease in tourism revenue estimated at around 20 trillion won.

If the bill proposed by Congressman Lee passes in the National Assembly, support for the tourism industry will be possible in the form of fund operation projects of the Tourism Promotion Development Fund, separate from government subsidies provided as disaster relief funds through supplementary budget allocations.

Congressman Lee said, “Along with proposing the amendment, we are consulting with relevant ministries on measures to alleviate damages to the travel industry, such as designating travel agencies as restricted businesses and easing office rental burdens.”

He added, “Due to the prolonged COVID-19 pandemic, the damage to the tourism industry is severe, and especially the travel industry is on the brink of collapse, with even large corporations facing restructuring and closures. Therefore, it was necessary to clarify the legal basis for support in cases of infectious diseases and natural disasters.”

Meanwhile, the Tourism Promotion Development Fund is mainly financed by government contributions, payments from casino operators and duty-free shops, and a departure fee of 10,000 won charged upon departure. This year, a fund of about 1.6 trillion won is expected to be operated.

This content was produced with the assistance of AI translation services.