Ministry of the Interior and Safety (MOIS) and Ministry of Culture, Sports and Tourism (MCST) to Provide 6.1 Billion Won in Special Local Allocation Tax to 13 Local Governments Driving Regional Tourism Innovation

[Financial News]  The Ministry of the Interior and Safety and the Ministry of Culture, Sports and Tourism will provide a total of 6.1 billion won in special local allocation tax to 13 local governments to discover tourism ideas that highlight regional characteristics and connect them to revitalizing local economies.
MOIS and MCST announced on the 5th that they will provide 6.1 billion won in special local allocation tax on a differentiated basis as a financial incentive to local governments selected for the Regional Economy Innovation Best Practices Competition, "Rising Stars of Korean Tourism."
This project is the first initiative of the Regional Tourism Policy Council, launched by the two ministries on July 16 to make tourism a key driver of local economic revitalization. The council, co-chaired by director-level officials from MOIS and MCST, is discussing regional tourism innovation agenda items to revitalize local economies. The competition's name, "Rising Stars of Korean Tourism," reflects the aim of having ninth-term popularly elected local governments take the lead in developing tourism policies and content that highlight their regions' distinctive characteristics and bring new vitality to local economies.
The competition has four categories: tourism product innovation, promoting tourism consumption, restoring trust in tourism, and tourism-income villages. All local governments nationwide are eligible to participate.
A total of 13 local governments will be selected. At the metropolitan level, three will be chosen: one Grand Prize winner and two top excellence award winners. At the lower-tier level, 10 will be selected: one Grand Prize winner, two top excellence award winners, and seven excellence award winners. Special local allocation tax will be provided on a differentiated basis according to the selection results.
The competition has been underway since July 21, and applications are due by the 20th. Projects submitted by cities, counties and districts will be compiled by cities and provinces and submitted to the Korea Tourism Organization (KTO)'s National Tourism Strategy Team. MOIS and MCST will begin screening in late October, select the final local governments by early December, and hold an awards ceremony in December.
Selected outstanding projects will receive financial incentives, and they will also advance to the finals of the 2027 Korea Tourism Star Awards.
Song Kyung-joo, MOIS Director of the Local Finance and Economy Office, said, "These financial incentives will serve as a driving force for turning innovative regional tourism ideas into meaningful policies for revitalizing local economies." Song added, "I hope that the realization of innovative regional tourism ideas will transform areas into places people want to visit and stay, bringing local economies back to life and filling them with vitality."

[email protected] Lee Bo-mi Reporter