Jeju Island, South Korea's largest and most renowned tourist destination, is set to introduce NFT-based tourist cards as part of a strategic effort to engage younger generations and encourage repeat visits.
The island plans to roll out these digital cards in the second half of 2025, bundling them with a variety of perks, including travel subsidies and discounts at key attractions.
Targeting Millennials and Generation Z—those born between the late 1980s and early 2010s—Jeju aims to tap into the tech-savvy nature of these groups and offer a more innovative and personalised travel experience.
Known for its scenic hiking trails and luxurious resorts, Jeju also boasts the distinction of being South Korea's first self-governing province, with a history of embracing blockchain technology.
In 2021, the island launched a blockchain-based COVID-19 contact tracing app, further solidifying its forward-thinking approach.
The NFT-linked travel cards will undergo a trial phase before being fully implemented in late 2025, with the goal of making Jeju a more attractive, digitally integrated destination for younger travelers.
Jeju Island officials convened to explore the potential of blockchain and NFTs in boosting the island's economy last March.
Among the topics discussed were the integration of NFTs into the tourism sector, with applications in museums and restaurants, as well as potential uses within the local fishing industry.
This meeting comes amidst a resurgence in South Korea's crypto market, fuelled by growing optimism surrounding regulatory developments in the United States.
Democratic Party of Korea Representative Lim Kwang-Hyun noted that South Korea saw a surge of 610,000 new crypto users in November 2024, bringing the total number of crypto users to 15.6 million, roughly 30% of the nation's population.
Meanwhile, NFT sales in 2024 reached $8.83 billion, surpassing 2023 figures by $100 million.
However, this still represents a significant decline from the peak of $23.7 billion in 2022, signalling a cooling of the market despite its continued presence.
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