Min Hyungbae: "Tourism Industry to Get One-Year Grace Period for Repayment of Promotion Fund"

"Priority Allocation of Funds to Gwangju and Jeonnam Regions"
Minister of Culture, Sports and Tourism Responds to Inquiry

Min Hyungbae, Member of the National Assembly.

Democratic Party lawmaker Min Hyungbae (Gwangju Gwangsan-eul) led a decision to grant a one-year deferment on the repayment of the Tourism Promotion and Development Fund to support the tourism industry in the Gwangju and Jeonnam regions, which suffered damages due to the 'aircraft disaster,' at the National Assembly's Culture, Sports and Tourism Committee general meeting on the 21st.

Min explained, "The tourism industry in Gwangju and Jeonnam has been directly affected by the aircraft disaster, and in Gwangju alone, more than 20,000 people have canceled trips from 137 companies." He added, "The damages over the past month have reached 30 billion KRW, and the livelihoods of over 1,000 tourism workers are at risk."

Min continued, "Accordingly, the Ministry of Culture, Sports and Tourism should defer repayment of the Tourism Promotion and Development Fund loans, which were provided during the COVID-19 pandemic, for one year. In addition, new funds should be prioritized for the Gwangju and Jeonnam regions, and direct support for losses should also be prepared."

In response, Minister of Culture, Sports and Tourism Yoo Inchon stated, "We will grant a one-year deferment on the repayment of the Tourism Promotion and Development Fund loans provided during the pandemic. In the future, we will consider prioritizing support for the Gwangju and Jeonnam regions, and we are also discussing with the Ministry of Economy and Finance the possibility of introducing an insurance system for compensation."

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