Jeju Island, a popular vacation spot in South Korea, is adopting new technology called non-fungible tokens (NFTs) to help grow its economy. This island is known for its unique status and has been exploring how to use cryptocurrency since 2018. Despite facing some challenges with rules from the main government, officials from Jeju are pushing forward with plans to use NFTs in tourism, farming, animal husbandry, and fishing.
(Photo : N Riazi on Unsplash)
Jeju Island Embraces NFTs for Economic Growth
NFT technology is expected to make these industries more sustainable and trustworthy, especially in farming and fishing, by proving where and how products are made. In tourism, NFTs can offer special deals to visitors who explore certain parts of the island, like the famous Jeju Olle Trail, encouraging more people to enjoy its natural and cultural sights.
According to Travel and Tour World, using NFTs could also attract tourists and investors interested in technology, opening new opportunities for Jeju Island's economy. The plan shows Jeju's effort to blend modern tech with traditional industries to boost the economy and protect the environment.
Officials, including Jeju's Governor Won Hee-ryong, are working with private and public sectors to bring this technology to life. They believe NFTs can change how payments are made and how goods are tracked in agriculture and fishing, making these processes more efficient and transparent.
Jeju Island's strategy to include NFTs in its economic development marks an important step towards innovation and sustainability. By using these digital tools, Jeju hopes to enhance the experiences of tourists, support local industries, and showcase how technology can benefit traditional sectors.
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Jeju Island Expects More International Visitors with New Flights and Cruises
Jeju Island, a popular vacation spot in South Korea, is set to welcome more tourists from around Asia with more flights and cruise ship visits planned for this year. The Korea Airports Corp. (KAC) and the tourism industry announced that the island will have 148 international flights every week starting in January.
As per The Korea Times, this is a big jump from the 20 weekly flights during the winter of 2022, after the COVID-19 pandemic hit the tourist industry. The numbers have been rising and are now close to the pre-pandemic level of 181 flights in 2019.
New flights this year include routes from China's Spring Airlines to Beijing and Nanjing, as well as increased flights to Hangzhou and resumed chartered flights. Jeju Air and Eastar Jet will also start new flights to Beijing and Taipei, respectively, and chartered flights to Macau will return.
Also, more cruise ships will visit Jeju Island. The Jeju Special Self-Governing Province says 25 cruise ships will make 204 trips to Jeju's ports, more than double last year's 77 trips. China's Adora Cruise will bring its mega cruise ship for 39 visits.
In 2023, Jeju Island saw a significant rise in foreign visitors, with 628,495 people visiting between January and November, nearly nine times more than in the same period in 2022. This boost in travel options is expected to attract even more visitors to Jeju this year.
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