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South Korea’s Jeju Island to launch a tourism card project based on NFT technology in 2025

Source Cryptopolitan

South Korea’s Jeju Island announced on January 6 that it plans to introduce a tourism card project based on NFT technology in 2025 and integrate it with its local blockchain stablecoin, Tamna Jeon.

The project aims to provide tourists with benefits such as travel subsidies, membership rights, and attraction discounts. The island’s governor, Oh Young-hun, revealed that the island is focused on digital transformation in all government areas, including the use of NFTs.

Jeju Island wants to woo tech-savvy tourists

Jeju Island in SouthKorea has launched a tourism card project utilizing NFT technology. pic.twitter.com/VFmVMAtRCj

— BULLSTREET GROUP (@Bullstreetgroup) January 6, 2025

The subtropical region of South Korea will issue NFT-powered visitor cards in 2025 to attract younger tech-savvy tourists. The island aims to use the NFT digital cards to provide discounts and travel subsidies to visitors.

Jeju Island has been attempting to foster crypto-powered advancements since 2018 but has faced challenges due to South Korea’s strict regulations on ICOs and NFTs. However, Jeju executives are now advocating for change by launching their own NFT tourism cards.

The island also plans to boost the local economy by integrating its NFT project with the local blockchain-based stablecoin, Tamna Jeon. Introduced in 2019, the stablecoin is already used for rechargeable prepaid cards and offers incentives to both merchants and customers.

Jeju Island hopes the initiative will appeal to Millenial and Gen Z demographics, encourage them to explore Jeju, and increase the likelihood of return visits. Jeju Island plans to issue the cards in the second half of this year, and a pilot program for domestic visitors will begin later in 2025.

The subtropical region of South Korea plans to offer domestic tourists digital tourism resident cards. The digital cards aim to provide various benefits such as travel subsidies, memberships, and discounts on local attractions. The island also wants the travel subsidies to be paid in its local currency.

Jeju Island plans to focus on digital transformation

“This year, we are gradually making preparations to focus on digital transformation. The core of all this is Web3. We can apply Web3, including the use of NFTs, to all areas of the government. This will be a step forward.”

-Oh Young-Hun, Jeju Island Governor.

South Korea has had stringent measures against non-fungible tokens by restricting their use in the gaming sector. The country’s court ruled in 2023 that NFTs are speculative and not protected under legislation. Several gaming companies have been forced to abandon plans to launch blockchain gaming titles in the country, with regulators claiming their NFTs have a monetary value. The regulators claim that the titles can be equated with gambling, which is also effectively illegal in South Korea.

Potential candidates for the Korean Sport and Olympic Committee aim to change the country’s norm against NFTs. According to Newsprime, the current candidate for re-election, Lee Kee-Heung, disclosed that the government’s regulation interference was keeping innovators from engaging in NFT business or sponsorships. Lee declared he was ready to advocate for Seoul to change its stance on NFTs.

CNB News also reported in March last year that the island’s officials met to explore how blockchain and NFTs could help its economy. The officials considered the use of NFTs in tourism and how it might apply to the fishing industry.

The province also announced on January 2 the launch of its digital nomad visa program. The Jeju government, together with the Jeju International Convention Center (ICC Jeju), has taken a step to cater to the needs of digital nomads. The island is broadening its tourism roots to embrace the growing digital nomad movement by offering remote workers the opportunity to make the island their temporary home.

The island hopes the initiative will represent a broader vision to transform Jeju into a hub for global digital talent. The Island’s approach hopes to benefit the remote workers who choose to make Jeju their temporary home and contribute to its economic growth and cultural diversity.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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South Korea’s Jeju Island to launch a tourism card project based on NFT technology in 2025

Jeju Island wants to woo tech-savvy tourists

Jeju Island plans to focus on digital transformation

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