Mt. Geumgang tourism, which was regarded as a symbol of peace industry on the Korean peninsula, has now become a symbol of the worsening relationship between North and South Korea. Based on the conceptual framework of Johan Galtung`s ``extened peace``, this paper argues that interruption of Mt. Geumgang tourism resulted from the accumulated institutional problems, which made it impossible to achieve ``positive peace``. Therefore, the paper maintains that there should be institutional reformation before the resumption of Mt. Geumgang tourism if true peace is to be achieved through tourism. This paper also suggests following measures as the ways of resumption of Mt. Geumgang Tourism : the MOU of tourism cooperation between North and South Korea, the adjustment of agreement on the security of South Korea tourists, and the establishment of the authority concerning Mt. Geumgang tourism zone.