The new year is the Visit Korea Year the government designated in order to attract foreigners in line with the nation's hosting of World Cup Soccer Finals and the Asian Games slated for 2002.

The Culture and Tourism Ministry officially declared the Visit Korea Year at midnight, New year's Day. To celebrate the declaration, it awarded Mr. and Ms Lui Kwang Hu of Singapore who stepped into the country the first this year.

Major celebrative events scheduled for this year include the culinary culture festival, ceremics expo, Taekwondo festival and about 20 others. Over 540 firms are sponsoring them with a special bonus treat "Bonus Korea 2001" which provides a maximum 50 percent discount.

The government projects about 5.8 million foreigners will visit the nation this year, leaving it with some 7.3 billion dollars of tourist revenue.