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South Korea Relaxes Rules on Attractions Development

South Korea Relaxes Rules on Attractions Development
November 12, 2009

South Korea's Ministry of Strategy and Finance is to ease regulations and provide incentives to encourage foreign investors to build theme parks in the country as part of its efforts to attract more overseas investment and stimulate weak domestic demand.

Under the measures, the South Korean Government will provide a range of incentives for foreign investors when they borrow land from state-invested or public companies in the provincial region to build a large-scale theme park.

It is also considering easing the regulations regarding the construction of golf courses. At the moment, environmental restrictions can hamper the construction of a golf course if it could have an adverse impact on local water sources.

A further move will see the government investing more in building the nation's tourism infrastructure, especially in the nation's farming and fishing villages, while constructing a range of leisure facilities designed to capitalise on its maritime resources.

Image: Rollercoaster at Everland, Korea's largest theme park.


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