The Korea Tourism Organization (KTO) and the Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) decided to fully waive fees when travel expenses are refunded in local currency through their collaboration.
The two corporations said on the 23rd that they signed a business agreement to promote the "Local Love Vacation Support Pilot Project (Korea Half-Price Travel)," which refunds 50% of travel expenses in local currency.
Korea Half-Price Travel is a program that refunds 50% of travel expenses in the local currency of the region to people who visit areas eligible for vacation support.
Under this agreement, KOMSCO will fully waive local currency issuance fees on the refunded amount when local governments refund travel expenses through the corporation's local currency platform "Chak."
They also agreed to share platform usage data with the tourism organization and support monitoring for fraudulent receipt of half-price travel subsidies.
In addition, the two agencies will establish a mid- to long-term cooperation framework that links the tourism organization's key projects—such as the Digital Tourism Resident ID, Korea Dulle-gil, Tourism Dure, and the Korea Tourism Contest—with KOMSCO's infrastructure.
Park Seong-hyeok, president of the Korea Tourism Organization, said, "This cooperation will be a powerful driving force that allows the half-price travel program to be operated stably and efficiently to revitalize regional tourism."
Sung Chang-hun, president of KOMSCO, said, "Beyond the Local Love Vacation Support Pilot Project, we will take the lead in revitalizing local economies by playing an active role not only in policy allowances funded by national and local finances, such as basic income for rural and fishing communities, but also in future livelihood support through supplementary budgets."