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Tag: south korea

  • Korean Government to Develop ‘Bojeong-dong Café Street’ in Indonesia

    Korean Government to Develop ‘Bojeong-dong Café Street’ in Indonesia

    The Small and Medium Business Administration (SMBA) announced its plans on August 3 to develop a small business K-town in Indonesia modeled after “Bojeong-dong Café Street” as a means of supporting the small business’ overseas expansion.

    The café street developed spontaneously from the mid 2000’s in the Bojeong-dong café street. Currently, total 126 stores are operating in the area of 22,000 ㎡, and small theme streets are developed in every eight alleys.

    Additionally, the SMBA announced its policy to co-operate K-culture and other by developing “small business K-town” in the peripheral region of Jakarta, around at the end of year 2018,

    For the policy, the SMBA proceeded a field investigation with Small Business Association, International Council for Small Business (ICBS Korea), Small Enterprise and Market Service (SEMAS), etc., and the Indonesian Government also has expressed a will to support the project.

    Joo Young-sup, administrator of the SMBA said, “The ultimate goal is to produce 1,000 successful similar cases until year 2020 by pushing ahead of the small business’ overseas expansion policy.”

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  • Boots to launch in south korea

    Boots to launch in south korea

    Walgreens Boots Alliance, Inc. (Nasdaq: WBA), the first global pharmacy-led, health and wellbeing enterprise, today announced that it has signed an agreement to form a franchise partnership with Emart Company Ltd (a member of Shinsegae Group), South Korea’s number one hypermarket retailer. Together, they will create a Boots branded pharmacy-led, health and beauty retail franchise in South Korea.

    Under the terms of the agreement, Boots branded stores will be opened in shopping malls, on high streets and within the outbound areas of Shinsegae department stores and Emart hypermarkets. The Boots stores will each feature an independent pharmacy and a range of Boots owned products and ‘exclusive to Boots’ brands as well as leading Korean brands.

    “South Korea is considered a leading market for skincare and cosmetics products in Asia today.  We believe there is a significant opportunity to extend the reach of Boots own brands into this market and are thrilled to be doing so with Emart,” said Ornella Barra Co-Chief Operating Officer of Walgreens Boots Alliance. “Emart is the preeminent retailer in South Korea and their strong experience as well as their marketing expertise gives us great confidence in the long-term potential of this partnership.”

    “We are delighted to have the opportunity to introduce the Boots brand, and offer pharmacy care as well as acting as a beauty and healthcare destination by also offering a wide range of both Korean and Boots product brands.” said Gab-Soo, Lee, CEO of Emart Inc.

    The first stores are expected to open before the end of the first half of calendar year 2017 and will include Boots highly regarded and exclusive No7 and Soap & Glory products.

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  • South Korea May Halt Volkswagen Sales

    South Korea May Halt Volkswagen Sales

    South Korea’s environment ministry has accused local VW officials of fabricating reports on emissions and noise-level tests.

    As a result, Volkswagen may have sales of its vehicles in South Korea suspended later this month. The environmental authority in South Korea, the National Institute of Environmental Research, will decide at a hearing on July 22 whether to suspend the sale of 32 VW Group models, which includes the Audi brand too, currently available in the market.

    Prosecutors last month raided the Seoul offices of the German automaker and arrested an employee as part of the investigation. The automaker stands accused of fabricating reports on 26 different VW Group models including the VW Golf and the Audi RS7.

    The South Korean unit of Volkswagen has seen sales slide dramatically in the first half of 2016. Sales are down 33 percent to 12,463 units for January through to June compared to the same period last year.

    Volkswagen has said it may take legal action to fight any decision to halt sales.

    The situation with VW isn’t without precedent.

    Earlier this year, South Korea suspended sales of the Nissan Qashqai after accusing the Japanese automaker of manipulating the model’s emissions control system. The local Nissan unit has filed a lawsuit against the environment ministry in response.

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  • Bolloré Logistics Sponsors Honey Factory for Urban Beekeeping in Seoul

    Bolloré Logistics Sponsors Honey Factory for Urban Beekeeping in Seoul

    In an effort to promote the idea of urban beekeeping and to provide information about its environmental benefits, Bolloré Logistics Korea recently sponsored a beehive structure called Honey Factory, in Seoul, South Korea.

    Currently installed in Seoul Children’s Grand Park, it was first introduced in Asia at the 2016 International Conference on Urban Agriculture during The 5th Seoul Urban Agriculture Expo that took place last May 19-22.

    Designed by Italian industrial designer Francesco Faccin, this wooden beehive has a 4.5-meter chimney that keeps curious children safe from the bees. It also protects the bees from harm due to bad weather and helps keeping it at constant temperature with optimal ventilation. Honey Factory is an ideal beehive for city parks as a standard hive can cover a radius of three kilometers.

    The first Honey Factory has also been operating since 2015 installed in the garden of the Triennale Design Museum in Milan, Italy, and carries out educational activities as well as producing great urban honey.

    This action is fully in line with the biodiversity action plan put into effect within the Bolloré Logistics Business Unit. Bolloré Logistics’ biodiversity strategy has three fundamental pillars based on the ARC concept (Avoid / Reduce / Compensate):

    (1) Embracing biodiversity as one of the company’s environmental concerns;

    (2) Working with customers and suppliers on biodiversity issues and the impact of our activities;

    (3) Make our sites models for biodiversity, all over the world.

    By sponsoring the first Honey Factory in Asia, Bolloré Logistics hopes to increase efforts to protect bees, as they play a vital role in maintaining biodiversity.

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  • Ministry striving to attract 400 thousand South Korean tourists

    Ministry striving to attract 400 thousand South Korean tourists

    The Indonesian tourism ministry is taking innovative steps to achieve this years target of attracting 400 thousand tourists from South Korea, including by participating in the “Wedding Expo” in Seoul on July 9-10, 2016.

    Assistant Deputy for Market Development of the Asia-Pacific region of the Ministry of Tourism Vinsensius Jemadu stated from Seoul, South Korea, on Monday, that the ministry continued to fill innovation gaps.

    “We are looking for the slightest opportunities to promote Indonesias segment aboard. It has been almost three years that we have participated in events promoting this segment, but now, we will try again,” he noted in connection with the Tourism Ministrys participation at the wedding exhibition to offer honeymoon packages to various tourism destinations in Indonesia.

    Jemadu is optimistic that its target of drawing 400 thousand tourists from South Korea would be reached.

    In 2015, a total of 359,468 South Korean tourists visited tourist destinations in Indonesia.

    Jemadu pointed out that Bali and Bintan were now the most sought-after locations for pre-wedding photographs among brides and also the venues for the weddings of young Korean couples.

    “They really like the beach and the ambience of the tropical waters in Indonesia,” he noted.

    South Korea has direct flight connectivity to Indonesia. As many as three airlines operate flights to two international airports in Indonesia, and there are some 618,748 seats available on flights to the country.

    “This exhibition is held in summer in South Korea. We hope that during winter, South Koreans will leave the country and visit Indonesia that has moderate weather and is always a good option for couples on honeymoon,” he said.

    “Of course, we did this exhibition to promote the country as a wedding destination for couples planning to wed in autumn. It is this momentum that we are pursuing,” he stated.

    Meanwhile, Head of Asia-Pacific Exhibition of the Ministry of Tourism Rita Sofia in South Korea expressed hope that all engaged in supporting the tourism sector in Indonesia will continue to prepare various attractions, amenities, and access to support the arrival of newlywed South Koreans.

    Tourism Minister Arief Yahya seconded Sofias view as he believed that Korea was a potential market that could be tapped by showcasing Indonesias cultural and natural attractions.

    “The Asian market must be tapped by showcasing the oriental culture, and the countries must be frequently visited to create a joint program. For instance, the distance from Seoul to Indonesias tourism destinations, including to Manado, is not too far, so we just need to increase the number of direct flights,” he explained.

    Yahyas recent visit to South Korea already resulted in a commitment made by the two South Korean airlines —Jeju Air and Jin Air Korea — to operate flights to Indonesia.

    “It will boost the number of South Korean tourist arrivals in the country,” he affirmed.

    Industries participating in the exhibition had also prepared a variety of honeymoon vacation packages. General Manager Globlindo Arief Authority has prepared various packages: Bali Honeymoon Escape, Lombok Honeymoon, Tanjung Lesung Honeymoon, Kepulauan Seribu Honeymoon, and Raja Ampat Honeymoon.

  • South Korea Industrial Production Gains 2.5% In May

    South Korea Industrial Production Gains 2.5% In May

    Industrial output in South Korea climbed 2.5 percent on month in May, Statistics Korea said on Thursday.

    That beat forecasts for a flat reading following the 0.8 percent decline in April.

    On a yearly basis, industrial production climbed 4.3 percent – topping expectations for a fall of 1.0 percent following the 0.8 percent increase in the previous month.

    The all-industry activity index was up 1.7 percent on month and 4.8 percent on year. The Manufacturing Production Index added 2.6 percent on month and 4.5 percent on year.

    The Producer’s Shipment Index gained 1.0 percent on month and 3.7 percent on year. The Producer’s Inventory Index added 0.3 percent on month and 0.5 percent on year. The Production Capacity Index was flat on month and gained 0.5 percent on year.

    The Index of Capacity Utilization Rate collected 2.1 percent on month in May and 0.7 percent on year. The Manufacturing Average Capacity Utilization Rate was 72.8 percent, up 1.5 percentage point from the previous month. The Index of Services climbed 0.1 percent on month and 3.4 percent on year.

    The Retail Sales Index added 0.6 percent on month in May and 5.1 percent on year. The Equipment Investment Index was flat on month and climbed 2.9 percent on year.

    The Domestic Machinery Shipment Index added 0.2 percent on year. The value of Domestic Machinery Orders Received in May gained 0.6 percent on year. The value of construction completed at constant prices added 2.9 percent on month and 20.2 percent on year. The value of Construction Orders Received at current prices tumbled 25.5 percent on year.

    The Composite Coincident Index added 0.4 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.2 points from the previous month.

    The Composite Leading Index in May added 0.3 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, was flat on month.

    Also on Thursday, the bureau said that retail sales added 0.6 percent on month in May and gained 5.1 percent on year.

    That follows the 0.5 percent monthly decline and the 4.2 percent yearly gain in April.

  • South Korea to Launch Nationwide Shopping Festival in Fall

    South Korea to Launch Nationwide Shopping Festival in Fall

    South Korea will hold a nationwide shopping festival involving major retailers, manufacturers and traditional markets in the fall to draw foreign travelers and jack up lackluster domestic consumption, the government said Tuesday. 

    The Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism jointly formed a task force to create the massive shopping campaign, called “Korea Sale FESTA,” scheduled from Sept. 29 to Oct. 31. 

    “The government consulted with major manufacturers in consumer electronics, clothing, cosmetics and food industries, and they were positive about offering discounts on various items,” the ministries said in a release. “As Korea Sale FESTA is prepared well in advance, more manufacturers are expected to participate in this year’s event.” 

    The ministries separately held discount events last year as part of efforts to prop up the national economy hit hard by the Middle East Respiratory Syndrome outbreak last May.

    The culture ministry initiated a shopping festival called “Korea Grand Sale” from early September to mid-October during which retailers knocked down prices to woo back both domestic consumers and Chinese travelers during the long-haul national holiday. 

    Less than a month later, the trade ministry held another nationwide shopping campaign, called “Korea’s Black Friday,” during the first two weeks of October, to stimulate stagnant domestic consumption. 

    As last year’s discount campaign was criticized for hasty preparations and limited participation by retailers, the government formed a joint task force with industry officials this year to negotiate with retailers and manufacturers and offer shoppers better deals. 

    The culture ministry plans to provide support by hosting cultural and entertainment events with K-pop stars to attract foreign travelers, while the trade ministry will push for trade fairs and exhibitions to create a synergy effect. 

    The government will start promotion at home and abroad starting from late July and work with provincial governments and related organizations to link with local festivals during the period. 

    “We will combine shopping, tourism and culture to promote Korean culture and create a festive mood to bring in domestic and international consumers,” the ministries said.

     

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  • Losses Likely To Continue For South Korea Market

    Losses Likely To Continue For South Korea Market

    The losing streak has hit four sessions now for the South Korea stock market, which has surrendered more than 55 points or 2.9 percent along the way. The KOSPI now rests just above the 1,970-point plateau, and the market is looking at continued weakness again on Wednesday.

    The global forecast for the Asian markets is negative ahead of key risk events – specifically today’s FOMC’s rate decision, and next week’s Brexit vote. The European and U.S. markets were down and the Asian markets are tipped to follow suit.

    The KOSPI finished modestly lower on Tuesday as losses from the retailers were tempered by support from the technology stocks and shipping companies.

    Among the actives, Samsung Electronics added 0.44 percent, while SK hynix jumped 2.65 percent, Hanjin Shipping surged 6.26 percent, Hyundai Merchant Marine advanced 2.75 percent, Lotte Confectionery skidded 2.54 percent and Lotte Chilsung tumbled 3.93 percent.

    The lead from Wall Street is soft as stocks were down on Tuesday, if well off their worst levels of the day.

    The Dow slipped 57.66 points or 0.3 percent to 17,674.82, while the NASDAQ edged down 4.89 points or 0.1 percent to 4,843.55 and the S&P 500 dipped 3.74 points or 0.2 percent to 2,075.32.

    Traders expressed trepidation ahead of the Federal Reserve’s monetary policy announcement later today. The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement.

    Ongoing concerns about next week’s referendum on whether Britain will remain in the European Union also weighed on the markets.

    In economic news, the Commerce Department reported stronger than expected retail sales growth in May. The Labor Department also noted that import prices surged more than expected in May amid another substantial increase in fuel prices.

     

     

     

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  • Naver uses VisualOn platform to power Line TV application

    Naver uses VisualOn platform to power Line TV application

    VisualOn’s OnStream MediaPlayer+ is now integrated into Korea’s Naver Player for Line TV service for iOS and Android devices.

    The aim is to enable scalable cross-platform media playback for global streaming media brands for a high-quality video playback experience,

    Naver Player enables Naver’s various live broadcasts and VOD videos to be viewed on iOS and Android devices with higher stability, quality, and scalability than the built-in device video player. Additionally, the platform features a one-touch notification function and an audio-only mode.

    Ranked one of the top 100 companies that matter most in online video by Streaming Media Magazine, VisualOn was chosen by Naver for the partnership for its market-proven multimedia software. Naver’s customers can now access high-quality, live TV streams and recorded shows on all the connected iOS and Android devices anywhere and at any time.

    “The Korean market is a crucial region for Naver and VisualOn due to its high volume of mobile consumers that expect a high-quality viewing experience no matter where they are,” said Andy Lin, CEO, VisualOn.

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  • South Korea’s Lotte Chemical makes $3.1bn counter bid for Axiall

    South Korea’s Lotte Chemical makes $3.1bn counter bid for Axiall

    The two companies last year formed a joint venture to build an ethylene cracker plant together in the US, which is due to start production in 2018.

    Lotte declined to reveal the exact terms of its offer, but analysts said the bid would top Westlake’s $3.1bn approach. The counter offer could prompt Westlake to raise its bid after Axiall, a maker of polyethylene products, rejected the approach in April, the analysts added.

    “Lotte Chemical will be seen as a white knight for Axiall,” Park Young-hoon, an analyst at LIG Investment & Securities, told Reuters.

    If successful, Lotte Chemical would use the acquisition of Atlanta-based Axiall to diversify its product portfolio and secure a foothold in the US.

    Axiall said it has been in talks with several potential buyers after its rejection of the first approach prompted Westlake to launch a proxy fight to oust Axiall’s board.

    However, investors were unimpressed by Tuesday’s counter-offer, driving Lotte Chemical shares down 3.5 per cent to Won260,500 — their lowest in more than four months — while the Kospi benchmark index closed up 1.3 per cent.

    “The deal could be positive for Lotte in terms of securing a stepping stone in the US, but its shares were weighed down by concerns that the acquisition price could be much higher than expected,” said Lee Ji-Yeon, analyst at IBK Securities.

    The deal would be Lotte Chemical’s largest overseas acquisition. The company, formerly named Honam Petrochemical, took over Malaysia’s Titan Chemicals for Won1.5tn in 2010.

    South Korean chemicals makers are trying build scale to compete better with lower-cost Chinese rivals, with Lotte Chemical buying Samsung Group’s chemicals business for $2.5bn last year.

    South Korean petrochemical companies posted record profits last year as lower oil prices drove down material costs. Lotte Chemical reported a Won990.7bn net profit in 2015 on sales of Won11.7tn. The company said it could afford the cross-border deal, with its annual cash flow reaching $2bn.

    Almost devoid of hydrocarbon deposits, South Korea relies on oil imports but is also a big exporter of petroleum and petrochemical products. More than half of its processed output goes to markets including China, Japan and the US.

    Separately, South Korea’s Hanwha Chemical said on Tuesday its Hanwha Advanced Materials unit had submitted a letter of intent to buy US automotive materials supplier Continental Structural Plastics. The group declined to give the details of the offer but the Maeil Business Newspaper said the deal could fetch $600m.

    Axiall’s New York-traded shares, which have lost one-third of their value over the past year, were down 2.5 per cent on Monday at $23.30, before news of Lotte’s approach was made public.

     

  • South Korea says Nissan manipulated emissions, plans fine and recall

    South Korea says Nissan manipulated emissions, plans fine and recall

    outh Korea said that Nissan Motor had manipulated emissions on a diesel sport utility vehicle and that it planned to fine the automaker as well as sue the head of its Korean operations.

    The government said the Japanese automaker had used a so-called defeat device that helps a vehicle’s emissions management system turn off during regular driving conditions.

    Nissan denied any wrongdoing.

    “Nissan Motor has never illegally manipulated any vehicles we have produced so far and used defeat devices in those cars,” the automaker’s Korea unit said in a statement.

    The South Korean environment ministry said it planned to fine Nissan 330 million won ($279,920) for manipulating emissions on its Qashqai SUV. It will also order a recall of the 814 Qashqai vehicles sold in the country so far.

    South Korea conducted tests on 20 diesel vehicles, after finding in November that Germany’s Volkswagen AG had falsified emissions tests.

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  • Anti-hangover ice cream hits stores in South Korea

    Anti-hangover ice cream hits stores in South Korea

    South Korean retail chain Withme FS has started selling ice cream, which it claims can cure your worst hangover.

    The new product is called Gyeondyo, which can be translated as “Tough it out” or “Hang on”. Company officials explained that the message is addressed to Korean office workers who often have to endure a long day at work after a night of heavy drinking.

    In South Korea, it is hard for an employee to excuse himself from drinking in the evening with colleagues, especially superiors. Regular staff parties are a part of the country’s business culture. Workers often feel pressured to drink even if they don’t like alcohol so as not to be frowned upon. The ice cream is supposed to help such workers cope with the consequences of their attempts to fit in.

    A clerk arranges ice cream bars named Gyeondyo-bar, which translates to "hang in there" at a convenience store in Seoul, South Korea, May 20, 2016. REUTERS/Kim Hong-Ji

    The grapefruit ice-cream contains oriental raisin tree fruit juice — a popular anti-hangover treatment in South Korea, Reuters reported.

    South Korea tops the Asia-Pacific rating of countries regarding the consumption of alcohol. According to a 2014 World Health Organization report, individual South Koreans drink 12.3 liters of alcohol per year. The total annual sales of anti-hangover medicine in the country is nearly $126 million.

    Alcohol creates a huge industry of other products in South Korea, including special beauty care products for women, aimed at softening skin that gets dry because of drinking.

    On another note, ice cream seems to be getting a lot of attention all over East Asia. In April, a Japanese firm, Akagi Nyugyo Co. Ltd, released a video in which staff apologized for raising prices of the company’s ice cream for the first time since 1991.

    https://www.youtube.com/watch?v=J_2a_N4WVqg

    The video went viral, collecting millions of views. Akagi Nyugyo produced ice cream has unusual tastes, such as potato, spaghetti or soup.

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  • Shinhan Bank officially launches its Indonesian operations

    Shinhan Bank officially launches its Indonesian operations

    South Korea’s Shinhan Bank has embarked on operations in Indonesia via Shinhan Bank Indonesia, a move that is expected to help the Korean bank expand its presence not only in the Southeast Asian country but also across Asia.

    Shinhan Bank said on Tuesday it officially launched Shinhan Bank Indonesia, which was renamed from Bank Metro Express (BME), a Jakarta-based bank with 19 branches that was acquired by the Korean bank last year. Shinhan Bank Indonesia is newly headquartered in the International Financial Center Tower 2 in Jakarta, the capital city of Indonesia.

    The kickoff of Shinhan Bank Indonesia’s operations follows a series of launches of the Korean bank’s overseas operations in other Asian countries such as Japan, China and Vietnam in recent years. The latest overseas operation is expected to help Shinhan Bank achieve its ambitious goal to build an extensive financial network across Asia.

    The Korean bank also aims to merge Shinhan Bank Indonesia with Centratama Nasional Bank (CNB), another Indonesian bank that it took over last December, later this year. The Indonesian bank has 41 branches across Surabaya, the second biggest city in Indonesia, and other cities in Java Island.

    Once the merger is complete, the Korean bank would have 60 networks across Indonesia, the world’s fourth most populous country. It currently has 141 overseas networks across 19 countries. It would also be the first in the Korean banking industry to purchase two offshore banks and merge them.

    Cho Yong-byung, the president of Shinhan Bank said at the launching ceremony on Tuesday that he expects the merger of the two Indonesian banks would set a new milestone in Indonesia.

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  • Hotel Lotte IPO expected to become S. Korea’s biggest offering

    Hotel Lotte IPO expected to become S. Korea’s biggest offering

    South Korean retail giant Lotte Group’s hotel unit said Thursday it will go public on the KOSPI market on June 29, which is expected to fetch over 5 trillion won (US$4.19 billion) to mark as the nation’s largest-ever initial public offering (IPO).

    Hotel Lotte Co. said in a regulatory filing that it will offer 47.85 million shares at a range between 97,000 won to 120,000 won per share.

    The offering is estimated to be around 4.6 trillion to 5.7 trillion won, and its medium range of price would surpass the record amount of 4.9 trillion sale by Samsung Life Insurance Co. in 2010. 

    Hotel Lotte, the world’s No. 3 duty-free operator, said it will use the fund to step up its duty-free business, hotel chain and theme park to offer comprehensive options to travelers.

    “Hotel Lotte will use the IPO fund to invest in expansion of duty-free stores at home and abroad to become the world’s largest duty-free operator,” the company said in a statement.

    The duty-free business is the company’s key source of income, accounting for 86 percent of its total sales.

    Starting from next month, Hotel Lotte plans to hold a series of deal roadshows in major cities, including New York, London, Singapore and Hong Kong, according to company officials.

    The listing of Hotel Lotte is one of the reform pledges that Lotte Group Chairman Shin Dong-bin has made as part of efforts to improve corporate image after a bitter family feud for control of the retail-focused conglomerate, which has sprawling businesses both in South Korea and Japan.

    The prolonged family feud has virtually come to an end as the founder’s second son and incumbent chief won shareholder support in March to tighten his grip on the nation’s fifth-largest conglomerate.

    On Thursday, Lotte founder Shin Kyuk-ho, who was undergoing a mental competence evaluation to prevent a legal guardian appointment, abruptly rejected the procedure and left Seoul National University in just three days of hospitalization.

    In December, the 94-year-old founder’s younger sister requested a Seoul court to name her as his legal guardian, claiming her aging brother was no longer capable of making consistent decisions.

    As a result, the aged tycoon was unseated from board seats at major affiliates during a shareholders’ meeting in March.

    Experts say Shin’s early discharge from the hospital has raised the likelihood of his sister becoming his legal guardian.

    “The case of dementia requires at least two weeks of hospitalization for examination. His discharge from hospital in just three days means that officials could not proceed with normal procedure,” Lee Hyun-kon, the lawyer for Shin’s younger sister, said. “The possibility of (the court’s) appointment of a legal guardian for Shin has risen as he could not prove that there’s no problem with his mental health.”

    Dong-joo has claimed he is his father’s hand-picked successor, but Dong-bin argued that his father is unable to make reasonable judgments due to mental health problems.

  • Indonesia to promote cruise, yacht destinations in Korea

    Indonesia to promote cruise, yacht destinations in Korea

    The Ministry of Tourism will promote Indonesian tourism destinations, especially for cruising and yachting, at the Seatrade Cruise Asia 2016 to be held on May 12-14 in Busan, South Korea.

    During the cruise industry exhibition, the government will introduce Indonesias best cruising and yachting destinations, Deputy of International Marketing Development of the Ministry of Tourism I Gede Pitana stated in a press release here on Thursday.

    The ministry will inform the international companies and yacht owners of the governments step to increase tourist arrivals by simplifying the approval procedure for yachts entering Indonesian waters through the Clearance Approval for Indonesian Territory system.

    “The process to issue an entry permit will take only one hour,” Pitana noted.

    The government is prioritizing 10 yachting destinations, such as Tanjung Kayang Belitung, Tanjung Lesung, Seribu Islands, Mandalika Lombok, Labuhan Bajo, Wakatobi, and Morotai, in which marinas have been built to accommodate yachters.

    For cruise tourism, the five major ports of Belawan in Medan, Tanjung Priok in Jakarta, Tanjung Perak in Surabaya, Benoa in Bali, and Soekarno-Hatta in Makassar will serve as the entry gates to Indonesia.

    Eight marine tourism companies of Indonesia are also participating in the Seatrade Cruise Asia 2016.

    Moreover, the government is promoting its visa-free policy for Korean citizens by advertising its campaigns in the local media and through catalogs placed in Korean high-speed trains.

    The guests at the exhibition will be able to enjoy the performances of Indonesian dancers and several varieties of Indonesian coffee at the Wonderful Indonesia booth at the Seatrade Cruise Asia 2016.

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