South Korea Eyes Investments in Developing Countries' Tourism Industries

    South Korea has pledged to help create new sources of revenues among developing countries by supporting the development of their tourism industries.

    South Korea is prepared to support tourism-related infrastructure projects and similar initiatives in developing countries, according to Choe Kwang-shik, South Korea’s minister for culture, sports and tourism. Choe announced this commitment at a press conference on the sidelines of the 19th meeting of the U.N. World Tourism Organization general assembly, which was held in the city of Gyeongju in the southern part of the country.

    “We will provide financial, technical know-how and other assistance to developing nations, particularly those in Africa, to help them promote their tourism sector as a tool to create jobs and generate income,” the Korea Times quotes the minister, who also highlighted South Korea’s expertise and experience in developing and promoting its own industry.

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    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.