Jeju Island, a subtropical region in South Korea with its own unique legal framework, will issue NFT-powered visitor cards in 2025 to attract younger, tech-savvy tourists. The island plans to use these digital cards, which will be linked to NFTs, to provide visitors with discounts and travel subsidies.
The island has been trying to capitalize on cryptocurrency-fueled growth since 2018, but has faced challenges due to South Korea’s strict regulations on ICOs and NFTs. However, Jeju officials are now pushing for change.
As reported by Maeil Kyungja, the initiative aims to appeal to the Millennial and Gen Z demographics, encouraging them to explore Jeju and increasing the likelihood of return visits. The NFT cards will be issued in the second half of this year, with a pilot program for domestic visitors launching later in 2025.
Additionally, the region plans to integrate its NFT project with the local blockchain-based stablecoin, Tamna Jeon, which was launched in 2019 to support the local economy. The stablecoin is already being used for reloadable prepaid cards that offer incentives to both merchants and customers.
Jeju Island plans to offer digital tourist cards to domestic tourists, which will provide various benefits such as travel subsidies, memberships and discounts on local attractions. The travel subsidies are paid in the local currency of the island.
Jeju Island Governor Oh Young-hoon had previously said: “This year, we are gradually preparing to focus on digital transformation. At the heart of it all is Web3. We can apply Web3, including the use of NFTs, to all areas of government. This will be a step forward.”
Jeju Island’s decision to issue NFTs comes amid South Korea’s mixed regulations on NFTs. While strict regulations have hindered their use in gaming, the island’s plans show how NFTs are being embraced for tourism and local economic development.