Lee Cheol, Chairman of the Jeonnam Provincial Council Landscape Committee, "Tourism Promotion Fund Duration Must Be Extended"

Lee Cheol, Jeonnam Provincial Assembly Member

[Asia Economy Honam Reporting Headquarters Reporter Lee Jun-kyung] The Jeollanam-do Provincial Council's Chairman of the Economic Tourism and Culture Committee, Lee Cheol (Democratic Party of Korea·Wando 1), who is the main proposer, had the "Jeollanam-do Tourism Promotion Fund Establishment and Operation Ordinance Partial Amendment Ordinance" pass the "366th Extraordinary Session Standing Committee Review" on the 12th.

Chairman Lee proposed the amendment ordinance to extend the fund's duration by 4 years, as it is scheduled to expire on December 31.

The Jeonnam Tourism Promotion Fund was established to support funds necessary for the construction or renovation of tourism facilities and tourism convenience facilities, and 61.8 billion KRW has been raised from 2013 to this year.

Chairman Lee Cheol stated, "Since loans through the Tourism Promotion Fund have lower interest rates than commercial bank loans, extending the fund's duration is essential to alleviate the management burden of the tourism industry, which has suffered greatly from COVID-19."

He added, "Once the fund's duration is extended, support such as expanding the loan targets, increasing the scale, and deferring loan repayments, which were implemented last year, will continue, and efforts to further lower interest rates should also be pursued."

He emphasized, "I hope this ordinance amendment will serve as a catalyst contributing to strengthening the competitiveness and sustainable development of Jeonnam's tourism industry in celebration of the Jeonnam Visit Year, which is being held from 2022 to 2023."

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