Jeonnam Province to Support Travel Industry Facing Management Crisis Due to Aircraft Disaster

One-Year Deferment on Tourism Promotion and Development Fund Repayment
Applications Accepted Until May 16

Travel agencies in the Jeonnam region will receive a one-year grace period for loan repayment through the Ministry of Culture, Sports and Tourism's 2025 Tourism Promotion Development Fund special loan support. The photo shows the scene from the Suncheon Gardens of the World event. Provided by Jeonnam Province.

Jeollanam-do announced on the 9th that local travel agencies will be granted a one-year deferment on loan repayments through the Ministry of Culture, Sports and Tourism’s 2025 Tourism Promotion and Development Fund special loan support.

This measure was implemented as Jeollanam-do and the travel industry actively proposed to local National Assembly members and central government agencies to defer fund repayments and provide support for struggling local travel agencies following the downturn caused by the Jeju Air passenger plane accident at the end of last year.

A total of 97 travel agencies in the Jeollanam-do region are eligible for the special loan. Travel agencies located in Jeollanam-do that are currently repaying the Tourism Promotion and Development Fund or are due to repay within this year can apply to their respective banks for a deferment of repayment and an extension of maturity.

Applications will be accepted until May 16, and the eligible travel agencies will be able to ease their repayment burden through this special loan support.

According to Jeollanam-do, the estimated damages that local travel agencies will incur until the airport reopens due to the December 29 Jeju Air passenger plane accident are approximately 13 billion won, including airline commissions and reservation cancellations.

To compensate for these damages, Jeollanam-do is working to include provisions for travel agency compensation in the tentatively named “12.29 Passenger Plane Accident Victim Support Special Act,” which is currently being promoted by the National Assembly’s Public Administration and Security Committee. The province has added relevant clauses and submitted proposals to the National Assembly and the Ministry of Culture, Sports and Tourism.

Additionally, to support travel agencies affected by the Jeju Air passenger plane accident, Jeollanam-do has provided emergency support of 3 million won per agency for promotion and marketing expenses, and has significantly expanded the Jeollanam-do Tourism Promotion Fund’s operating capital loan program.

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