The Culture and Tourism Ministry said Friday...the government will spend 5.43 trillion won or 4.34 billion dollars over the next nine years to develop various tourist attractions on the southern coast of the peninsula and in North Kyongsang Province.

The tourist development project will focus on cultivating natural resources and cultural relics on the southern coast to boost the region into one of East Asia's leading tourist attractions.

The project calls for the injection of 5.43 trillion won in state and private funds into Pusan, Tongyoung, Goje, Namhae, Yeosu, Mokpo and Hanam by 2009, to promote marine sports and develop historic sites in those areas.

As a start, the government will raise 53 billion won next year and attract investments from private corporations to develop tourist facilities in 36 regions in Pusan and South Cholla Province.

It also will develop a tour course around the North Kyongsang region, which has many sites connected to Confucianism.

The Culture and Tourism Ministry is currently cooperating with other related ministries to attract private investments.