More Koreans to take cruises in coming years: report

SEOUL, March 15 (Yonhap) -- More South Koreans are expected to take holiday cruises in coming years as their living standards improve, the state-run Korea Maritime Institute (KMI) said Sunday.

In a report to the Transport Ministry, the KMI said the number of Koreans looking
to take cruise ship tours may rise 6 percent annually to 280,000 by 2020 from
around 160,000 in 2011.
More cruises may begin to add South Korea to their routes as the country improves
related infrastructure, the institute added. The ministry said the KMI report
will be reflected in its 2012-2020 buildup plan for ports and related facilities.
In the past, South Korea -- one of the world's biggest traders -- has placed
greater importance on moving freight and cargo instead of people at ports. But
efforts to enhance the competitiveness of Korea's service sector and draw more
tourists have led to a re-think of its strategy.
At present, only Busan and Yeosu have dedicated facilities to process cruise ship
passengers, with a terminal being built on the southern resort island of Jeju.
"Compared to North America and Europe, the domestic market is very small and
underdeveloped, although there may be considerable demand down the road as people
are likely to take more time off and engage in more varied recreational
activities," a ministry official said.
He added that such demand could allow for the expansion of infrastructure geared
towards the value-added industry, creating new jobs.
Such developments may also fuel local shipyards, which have largely been shut out
of cruise ship construction by European rivals.
South Korea is the largest builder of commercial ships in the world.
yonngong@yna.co.kr
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