April 27, 2008

By Han Aran (Korea.net Staff Writer)

Korea is not yet a yachting powerhouse, but it plans to be one.

Despite its potential to nurture a strong marine leisure industry given its geographical advantages as a peninsula, Korea has not eagerly pursued the field as a growth engine.

But finally the country has begun to acknowledge this potential and has said it wants to be at the center of the industry.

In particular, two provinces are working harder than others to boost the growth of yachting in Korea: Gyeonggi-do (province) on the west coast and Gyeongsangnam-do on the south coast.

Korea International Boat Show & Korea Match Cup to be held in Gyeonggi-do

Gyeonggi-do has successfully won the right to host an internationally renowned sailing competition named the Korea Match Cup, which is the local leg of the World Match Racing Tour.

The first international sailing competition ever hosted by Korea will be held from June 11 through 15 in the port of Jeongok, in Hwaseong City, which is about 45 kilometers southwest of the capital.

The World Match Racing Tour is considered comparable to the LPGA in golf and every year 10 countries host the competition in a form of a tour and matches are broadcast to more than 100 nations around the world.

Province government officials say they expect the event to be a success since world-famous yachtsmen like Britain’s Ian Williams, last year’s match racing world champion, has booked his spot, joining two of his rival skippers Mathieu Richard of France and Paolo Cian of Italy.

The minimum prize purse of $320,000 offered at the Jeongok event is the highest on the World Match Racing Tour for 2008.

Also, the competition will be staged in conjunction with the Korea International Boat Show 2008. This show has the assistance of a $282 million government initiative to expand and promote the country’s leisure boating industry.

The boat show is expected to be a huge success as foreign yacht companies and buyers are exhibiting an exceptionally high level of interest in it, even though the event has yet to be internationally recognized.

Some of the international participants include leading global yacht companies such as Brunswick Boat (US), Princess Yachts International (UK), Italy’s Ferretti Yachts, Bavaria Yachts (Germany), and Australia’s largest yacht manufacturer, Seawind Catamarans.

Almost two hundred investors from 15 nations are also expected to participate in the event. People in a broad range of business areas, including boat manufacturing, boat and yacht parts, marine sports equipment, suits and accessories for water sports, and marina facilities are to come, offering golden business opportunities for small and medium-sized Korean companies.

Gyeongsangnam-do steps up efforts to boost yachting industry

The province government of Gyeongsangnam-do plans to turn the picturesque sceneries of the numerous islands along the south coast into a world-renowned tourist attraction armed with new marine and high-tech industries.

To that end, the province is eager to foster the south coast’s yachting industry. The local government plans to build marinas for as many as 2,000 yachts in the near future.
Although Gyeonggi-do becomes the country’s first province to hold an international sailing competition, Gyeongsangnam-do is the place that hosted the country’s first-ever such competition last year named Yacht Korea 2007.

The province is to hold the second Yacht Korea competition in its three cities, Changwon, Masan and Tongyeong in May prior to the planned event in Gyeonggi-do.

The highlight of the competition will be the second Admiral Yi Sun-shin Cup International Yacht Race from May 9 to 11 in Tongyeong, where Admiral Yi Sun-shin (1545-1598) once walked. A total of 80 ships from 12 countries will compete in a 4-kilometer race.

Admiral Yi is noted for his victories against the Japanese fleet during the Toyotomi Hideyoshi invasion of the Korean Peninsula in 1592. He is also credited for his creation of the Geobukseon, or ‘turtle ship,’ a warship considered one of the world’s first ironclads.

http://www.korea.net/news/news/newsview.asp?serial_no=20080418021