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Last year, Jeju's revenue from Jeju's relay race amounted to 53.2 billion won (53.2 million http://horsesite77.com
 U.S. dollars), accounting for 65 percent of Jeju's 81.7 billion won (81.4 million dollars) in local tax revenue, and 63 billion won (63 billion won) ihttp://horsesite77.com
 s expected this year. Jeju expects more than 1 billion won in revenue from the expansion of the relay race. The http://horsesite77.com
 agreement will also form a tentatively named "Jeju Horse Industry http://horsesite77.com
 Consultative Group" to protect and foster the Jeju horse industry. As a result, Jeju will invest 10 percent of the leisurehttp://horsesite77.com
  tax revenue generated by the implementation of the relay race in projects to strengthen the http://horsesite77.com
 competitiveness of the Jeju horse industry. The Korean Horse Association will also use the resources raised by the reduction of leisure http://horsesite77.com
 tax to promote the improvement of Jeju horse racing facilities and strengthen functions.