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$1 Bil. Investment Towards Culture and Tourism Industry

Oct 29,1998
The Ministry of Culture and Tourism (MOCT) announced on October 29 that it will invest one billion dollars in loans procured from Japan into a variety of culture and tourism industries. The MOCT also plans to develop an 'Orient Tourism Cruise' project which will connect Korea, China, and Japan.
Shin Nak Kyun, Culture and Tourism Minister said, 'We will allocate 500 million dollars each to culture and tourism infrastructures. Two hundred million dollars will be spent to build new hotels for the 2002 FIFA World Cup.'
Shin continued, 'China is quite positive on the cruise project. We will show the mystery of the Orient to Westerners.' She also showed the possible approval to adult-only theaters by saying, 'This revision of the law is aimed at extending the boundary of freedom of expression.'



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