South Korea's Jeju Island Said to Use NFT-Backed Visitor Cards to Attract Younger Tourists

Jeju Island, a self-governing province in South Korea, will reportedly incorporate non-fungible tokens (NFTs) technology into its tourism strategy. According to a recent report by South Korean publication Maeil Kyungjae (MK), the island's authorities are launching an NFT-backed initiative to boost tourism. Starting in 2025, they plan to introduce NFT-powered digital visitor cards offering exclusive benefits to cardholders during their stay, the report claimed.

Key Details on Jeju's Upcoming Digital Visitor NFTs

Jeju Island plans to launch NFT-based visitor cards in the second half of 2025, leveraging the functionalities of blockchain technology, according to a report by South Korean publication Maeil Kyungjae (MK). These digital cards will offer visitors discounts, membership perks at popular attractions, and travel subsidies for domestic tourists.

While the specific blockchain platform for these cards has yet to be disclosed, they will enable tourists to securely record their travel details—such as locations, photos, and videos—on a related platform. The data stored on the cards will remain tamper-proof, providing a secure and personalised experience.

Designed to appeal to tech-savvy Millennials and Gen Z travellers, the initiative aims to boost tourism to the self-governing island, the report stated. Before their full release, the cards are said to undergo pilot testing, though details on pricing, availability, and other specifics remain under wraps.

Jeju Island's History with Web3

The plan to launch NFT-powered visitor cards is not Jeju Island's first foray into Web3 exploration. In 2019, Jeju Island began researching blockchain solutions as part of the 'Global Blockchain Hub City Creation Research Service,' a project announced on August 13, 2019, with a reported budget of 170 million KRW (roughly Rs. 1 crore). The initiative aimed to help the public experience blockchain technology firsthand.

In 2022, the island also outlined plans to introduce a blockchain-based energy usage platform to track residents' energy-saving and spending activities on a distributed ledger. With a history of offering blockchain-based public service solutions, Jeju Island's introduction of NFT visitor cards is another step in its ongoing exploration of blockchain technology. Position of South Korea in Web3

South Korea is actively developing regulations for the rapidly growing digital asset sector. Reports from June and July 2024 revealed that regulators in South Korea have classified NFTs as virtual assets, similar to cryptocurrencies. The Financial Services Commission (FSC) stated stated that because NFTs can serve as a form of payment due to their underlying financial value, they should be considered virtual assets.

The country has expressed a strong interest in expanding into Web3 sectors, including the metaverse. In 2022, South Korea announced plans to invest over $177 million (roughly Rs. 1,372 crore) into metaverse projects, aiming to generate job opportunities in the space.

While cryptocurrency trading is allowed in South Korea, exchanges must comply with Know Your Customer (KYC) regulations. Cryptocurrencies are not recognized as legal tender. As of December 2024, reports indicate that South Korea's crypto user base has surpassed 15 million.