Royal Intel - Tourism Intelligence Consultants » South Korea

Korea Aims to Double the Existing Number of Aussie Visitors by 2012

Lara — Tue, 15 Dec 2009 09:30:25 +0000

Korea Tourism Organization (KTO) aims to double the existing number of Australians travelling to the country by 2012. This was revealed by KTO’s Auditor General, Mr Lee Won Hyung, who further notes that 2009 has seen approximately 100,000 Australians travel to Korea.

An estimated 200,000 Australians are expected to visit Korea at the end of the Visit Korea Year 2010-2012 campaign. Korea, in this light, equally hopes to garner more Australian exchange students, from 200 each year to around 500 by 2012, and boost the number of Australian – Korean sister schools, from the current 40 schools. It is hoped that the welcoming of more Australian exchange students will increase the awareness of, and interest, in Korea as well as improve the existing political relationship between both countries. Visit Korea Year 2010-2012 is a pan-national campaign which envisions focusing on building the Korean tourism brand and developing high-quality tourism products to draw in 10 million foreign visitors.

Each year of the Visit Korea Year campaign will be accompanied with a different theme to highlight the unique culture and many offerings of Korea, including themes such as City and Style (2010), Nature and People (2011) and Blue Ocean (2012). City and Style will centre on Korean pop culture, urban tourism, culture and fashion, while Nature and People will focus on the IAFF World Championship in Athletics in Daegu, green tourism and the country’s rivers and mountains. The International Exposition, Yeosu Korea 2012, will kick off Blue Ocean, which will focus on Korea’s IT technology, maritime tourism, cruise tourism and island tourism.

Korean Festival an Attempt to Lure Indians and also Boost Bilateral Relations

Lara — Thu, 29 Oct 2009 07:38:54 +0000

The Korean Association in India (KAI), in partnership with Korea Tourism Organization (KTO) New Delhi Office, recently organized for the first time the Korean Festival 2009 in New Delhi. Thefestival showcased authentic Korean cuisines and various Korean cultural activities including music, martial arts and also Bollywood dances. The festival also took advantage of displaying a wide array of electronic consumer products.

The main aim of the festival was to share cultural aspects of Korea and India and further enhance bilateral trade and friendship ties between the two Asian countries. Three themes characterized the festival, namely ‘Feel Korea’ through culture and tradition; ‘Buy Korea’ through shopping, and ‘Taste Korea’ through cuisines. The main slogan of the festival was, ‘Love India, Love Korea.’ Speaking at the inaugural function, India’s Information and Broadcasting Minister, Ambika Soni, who was also the former Tourism Minister of India, pointed out the importance of tourism trade between two countries, further adding that Korea is indeed a must visit destination. The Korean Festival 2009 was attended by prominent Korean personalities such as the Ambassador of Korea in India, Paek Young Sun, and the Chairman of Korean Association in India, Kim Myung Bo.

Major Korean companies were equally in attendance notably LG, Samsung and Hyundai. In August 2006, South Korea agreed to seriously consider the issuance of visa-on-arrival at South Korean destinations for visiting Indian businessmen as one way to augment the vast potential that exists between the two countries from their complementary trade and industrial structures is to speed up efforts to establish institutional framework such as relevant laws, systems and consultations between the two governments. This announcement was made by then South Korean Minister of Foreign Affairs and Trade while addressing a meeting of business leaders organized by the Federation of Indian Chambers of Commerce and Industry (FICCI). The Minister was leading a high-power 10-member official and business delegation from South Korea.

This announcement came as Air India had launched a direct service to South Korea making the latter country a far reaching gateway for Indians to American continents, while India is envisioned to become a route for Koreans to link their business networks to the Middle East and Europe. India’s “Look East” policy has greatly contributed to strengthening its partnership with Asian countries including South Korea with bilateral trade volume increasing to USD 5.5 billion in 2004 compared to less than USD 1 billion in 1991. India ranks 19th as a trading partner of South Korea, whereas South Korea ranks 12th of India.

Source: TravelBiz monitor.com at www.travelbizmonitor.com

Japan, China and Korea Agree on Joint Tourism Administration

Lara — Tue, 27 Oct 2009 09:19:38 +0000

Japan, Korea and China have agreed to a joint cooperation in tourism administration. This was revealed in a joint communiqué by representatives of the three countries at the 4th Meeting of Tourism Ministers convened at Nagoya and Takayama on October 18. The meeting equally dealt with measures against travel impediments including impacts of a renewed insurgence of influenza, promotion of tourism linked with international events like the Shanghai Expo 2010, and simplification of visa issuance, all aimed at paving the way for an advent of “grand tourism era in East Asia”.

The three countries have equally pledged to address greenhouse gas reduction in their respective country-tourism sectors. Japanese Minister for Land, Infrastructure, and Transport and Tourism, Seiji Maehara, noted his satisfaction on the outcome of a fruitful discussion. Other imminent issues discussed at the meeting included measures against global financial crisis and fears over the new influenza, and stimulus package for recovery of international tourism. With regard to the new influenza outbreak, the joint ministers’ communiqué pointed out the necessity to transmit accurate information to travelers and to people engaged in travel-related industries, in order to call for calm and prudent behavior, and to enhance better coordination with other government agencies in respective countries so as to minimize against adverse effects to international tourism.

Indeed the Japanese Minister for Land, Infrastructure, and Transport and Tourism, noted that Japan has already set strategies aimed at fostering the momentum of overseas travel by way of solicitation to Shanghai Expo, making intensive promotions abroad in connection with the ‘Visit Japan Year in 2010′, and boosting human exchange from 2010 to 2012 to mark ‘Visit Korea Year’. These strategies are all designed to restore travel demand. In preparation for the forthcoming “grand tourism era in East Asia,” the ministers stated that measures were in place to facilitate better visa issuance services and thereby reduce the time required for entry formalities. The other agendas discussed during the meeting included encouragement of global business networking and collaboration among players in the tourism sector, and that of human resource development coupled with overseas study tours.

The ministers agreed on institutionalizing periodic trade meetings, enhance international coordination for consumer protection, and information sharing among players in the tourism industry. The next meeting is scheduled in 2010 in China, followed by another in 2011 in Korea. Thereafter, all subsequent meetings are to take place every two years from 2013.

Source: Travel Vision Weekly at www.travelvisionweekly.com

Korean and Chinese Travelers Spend the Most on Duty Free Items on their Last Trip

Lara — Thu, 24 Sep 2009 09:21:20 +0000

Asia Pacific travelers stretch their travel budgets by shopping at duty free stores, according to a survey commissioned by Visa. The Visa Travel Smart Survey asked 2,226 travelers from across the Asia Pacific region on their travel spending habits and found that Korean and Chinese travelers spent the most on duty free items on their last trip with an average expenditure of USD 358 and USD 333 respectively.

This was USD 100 more than the regional average. Reinforcing the appeal of duty free savings, 43% of all respondents said they shopped at a duty free store during their last overseas trip. Travelers from Japan (73%), Korea (71%) and China (49%) were the region’s most frequent duty free shoppers while Korean and Chinese travelers also made it to the biggest spender list. According to the Regional Head, Debit Products, Visa, Brian McGrory, duty free shopping can offer great savings on international brands as well as products that are exclusive to duty free shoppers. He therefore asserts that it is no surprise that the Chinese and Koreans, renowned brand lovers in the region, are snapping up duty free bargains. When it comes to paying for duty free purchases, credit cards were the most popular form of payment for Australians and New Zealanders (59% respectively), followed by the Koreans (56%) who are the region’s biggest spenders.

In this regard, the Regional Head notes that payment cards are accepted at duty free shops across the region and are a great way to help travelers overcome the problems of currency exchange during a cash transaction. With duty free shops located at airports and at downtown city centers, they are a great way for travelers to purchase gifts and save some money at the same time. During their last trip abroad, leisure travelers said they picked up a higher average tab (USD 219) at duty free shops compared with business travelers (USD 179). When asked where they made their duty free purchases, leisure travelers said they did most of their duty free shopping at the airport (84%) while business travelers preferred downtown duty free shops (67%). Younger travelers were the most likely to stretch their travel budget with duty free purchases – 47% of 18 to 29 year old travelers said they bought duty free on their last trip while 42% of 40 years and above said they made such purchases.

The Visa Travel Mart survey interviewed departing or arriving visitors/transit passengers (aged 18 years and above, trip length was at least 48 hours) at Singapore Changi Airport. A total of 2,226 respondents were interviewed from Australia, New Zealand, Korea, Japan, India, Singapore, Malaysia, Thailand, China, Hong Kong and Taiwan. Fieldwork was conducted from 26 September to 15 November 2008.

Source: Travel Daily News at www.traveldailynews.com

Second Quarter Profits Revert for Korean Air

Lara — Thu, 20 Aug 2009 07:01:48 +0000

Korean Air reports that it returned to profit in the second quarter due to lower fuel costs and large currency gains. After six quarters of losses in a row, the airline is resurrecting as its net profit for the quarter ending June 30 was KRW 78.5 billion (USD 63.56 million) compared to a net loss of KRW 288.9 billion (USD0.231863) a year earlier.

The carrier says its international passenger traffic fell 6.8% due to the global economic downturn and the outbreak of swine flu. Domestic passenger traffic declined 21.5 percent, while cargo traffic fell 15.5%. The quarterly sales also diminished to KRW 2.07 trillion, a 216% slide compared to the same period last year. According to Reuters, the carrier’s operating loss was offset by improvements in currency conversion gains. Meanwhile, Tong Yang Securities analyst Kang Seong-jin notes the pick up of passenger sales starting in July and that seasonal surcharges seem to support its earnings. As exports and travel demand improve, the carrier expects business to recover gradually in the second half though risks remain in possible fuel increases and a possible worsening of the economic downturn.

In a separate statement, Korean Air says that aircraft fuel costs fell 40% from the same period last year, while the average price per gallon of fuel declined 56%. In addition, the carrier has booked a foreign exchange transaction gain of KRW411 billion (USD0.329861), compared with KRW48.9 billion (USD0.0392470) in the second quarter last year, helped by a quarter-on-quarter increase in the value of the South Korean Won. The currency obtains about 9.1% against the dollar on average during the second quarter compared to the same period last year.

Shares in Korean Air, which released earnings about two hours after the stock market opened, rose 0.4% to close at KRW45,500 (USD36.5142). Meanwhile, both domestic rival Asiana Airlines and Cathay Pacific Airways posted a return to profit compared to a loss in the previous quarter in the same week. The former reported a second quarter net profit of KRW 47.1 billion (USD0.0377965), recovering from a previous net loss. However, Cathay reported profit in the first half but still voiced concerns over high fuel prices.

Source: e-Travel Blackboard at www.etravelblackboard.com

Asians Still Passionate about Travel

Lynnette — Wed, 22 Apr 2009 03:59:46 +0000

According to the latest survey by Visa, travel remains the top personal passion of the Asia’s affluent consumers as personal interests continue to be driven by new sights, tastes, and sounds. As indicated by study, one-off big purchases are less vulnerable to economic fluctuations hence passions are long-term pursuits that will most likely outlast the current financial crisis.

Of the more than 4,000 people surveyed in Singapore, Taiwan, Hong Kong, South Korea, China, Australia, India, and Japan, 73% of respondents reveal travel to be their top personal interest in the next couple of years, followed by food (43%), along with music and cars, which are tied at the third spot with 31%.

Japan (34%), Australia (29%), and the United States (26%) are the popular travel destinations among Asia’s affluent flyers as revealed by the study.

Source: Reuters at www.reuters.com

Asian Travelers to Stay Closer to Home in 2009

Lynnette — Wed, 15 Apr 2009 05:10:45 +0000

The latest findings from the ITB World Travel Trends Report reveal the growing trend among Asian tourists to travel more within Asia as the global recession worsens in the coming months. As it is, travelers from the region’s traditional tourist-generating powerhouses, Japan and South Korea, have already reduced their number of trips and many more are expected to do so in 2009. And though the emerging markets of China and India will continue to offer hope for outbound travel from Asia Pacific, many travelers from these two countries have also cut back on their trips and plan to continue doing so should the economy deteriorate further.

The trend of traveling closer to home among Asian travelers became apparent in 2008 with Europe emerging as its principal casualty. Consequently, European destinations that typically attracted a large number of Asian travelers will be in for a hard time in 2009. A case in point is the 10% increase in the number of Chinese tourists traveling within Asia as well as the 16% growth in travel to the US from China last year owing to the pent-up travel demand among Chinese in all age groups from the higher socio-economic classes in the country, explained Dr. Martin Buck, director of the Competence Center, Travel & Logistics, at Messe Berlin.

In contrast, India continued to be a bright spot for Europe as it was the main beneficiary of the Indian travel market in 2008 as the number of Indian visitors to Europe increased by 25%. The trip volume of the Indian market in 2008 grew by 13% and exceeded all growth expectations.

With the expected decline in the volume of outbound travel in 2009, the business travel and meetings industry is likely to be the most seriously affected by the downturn. At the same time, long-haul travel from all markets is also projected to fall while domestic travel will likely stay relatively stable or grow alongside the demand for low-fare flights. Additionally, destinations adjacent to the big travel markets would benefit the most from the prevailing travel trend. However, all is not lost for the year ahead as the report also forecasts a rise in internet bookings and an increased demand for online virtual meetings.

Source: Asia Travel Tips at www.asiatraveltips.com

Finnair Opens Direct Flights to Seoul

Lynnette — Mon, 07 Jul 2008 05:13:26 +0000

Finnair opened direct flights to Seoul from Helsinki last June, making it the only airline flying non-stop from the South Korean capital to Northern Europe. The route flies five times a week aboard the new Airbus A340-300E long-haul aircraft on Finnair’s fleet. Flight time is 8 hours and 55 minutes from the Finnish capital and 9 hours 50 minutes from Seoul.

The new route complements Finnair’s growing Asian network, with Seoul becoming the Finnish carrier’s eleventh destination in Asia. The renewal and expansion of its fleet will help Finnair benefit from the Asian traffic growth and also develop its route capacity in the region further. The carrier also offers excellent connections to over 40 cities in Europe.

Source: Embassy of Finland, Seoul at www.finland.or.kr

Korean Air Acquires Additional A380s

Lynnette — Fri, 29 Feb 2008 12:16:59 +0000

Korean Air will purchase three additional A380s aside from its initial order of five A380 aircrafts placed in 2003. The decision is part of the company’s vision of becoming a leading global carrier providing best quality service to its passengers, according to Korean Air CEO, Yang Ho Cho. The first five aircrafts are set to be delivered between 2010 and 2011 while the additional three are expected between 2012 and 2013. Beginning 2010, the A380 aircraft will be introduced on the high-traffic long-haul routes of the carrier like Los Angeles, New York, and Paris.

The A380, a double-decker with a seat capacity of 525 in standard configuration, is the world’s largest commercial passenger aircraft. It reduced its weight by using composite materials and enhanced engine efficiency thus lowering fuel consumption by 15% and CO2 emission by 20%. The A380 was first introduced to the Korean audience in September 2007 when Korean Air hosted a promotional flight of the next generation aircraft.

Source: China Newswire at www.chinanewswire.com

Korean Overseas Spending Hits Record High

Tue — Mon, 21 Jan 2008 02:12:43 +0000

Korean families spent KRW 4.75 trillion (USD 5.16 billion) overseas in the three months leading to September, beating the previous record of KRW 4.63 trillion in the first quarter of the year, according to the Bank of Korea (BOK).High spending abroad is unlikely to drop given increasing overseas travel, according to a BOK official. The strength of the Korean won against the dollar has prompted Koreans to travel and study abroad more than before. As such, the cost of travel, studies, and medical treatment accounted for most of households’ overseas spending.

Surging credit card usage in foreign countries has also contributed to the rise in overseas spending. Korean residents’ credit card spending overseas hit an all-time high of KRW 1.6 trillion (USD 1.7 billion) in the third quarter, up by 33% from the year before. Per capita spending reached USD 864, up 24% from a year earlier. Source: Koreatimes.co.kr: Household Spending Overseas Hits Record High, December 2007