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About the fund
- Relevant law: The Tourism Promotion and Development Fund Act
- Ministry in charge: Ministry of Culture, Sports and Tourism (MCST)
- Managed and operated by: Ministry of Culture, Sports and Tourism (MCST)
- Where to apply: The Korea Development Bank or a commercial bank
- Source: The Government’s contribution, special levy collected from passengers leaving the country and casino businesses and profit obtained from operation of the fund
Where the fund is used
- Lent to tourist lodging facilities for repair and renovation
- Lent to international conference facilities and resorts for repair and renovation
- Lent to tourism businesses (travel agencies, casino businesses, souvenir businesses, hotels) for their operation funds
- Used for provision of support for businesses engaged in attraction of foreign tourists
- Used for provision of support for institutions engaged in research concerning tourism
- Used for investment in the business of formation of tourist sites (Relevant law amended in 2005)
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