Until now, the Korean
government has focused on the
development and support for
manufacturing firms and
regulated strictly the expansion
of service industries, especially
the tourism industry because the
priority attached to this sector
has been low. Therefore it has
been difficult to obtain finance for
tourism from banks and other
fund sources. In addition, the
purchase of land by any tourist
company to build a resort facility
was controlled to restrict land
speculation. Fortunately, the new
10 year blueprint for tourism
development suggested by the
Ministry of Culture and Sports
(1996) shows a turn in policy
toward the deregulation of the
tourism industry including
faci li tating loans and
deregulation of land acquisition.