This cable car ride is quite comparable to the one in Langkawi (Malaysia) as it is a whopping 3.7km long joyride. You'll get to see a bird's eye view of KangNung, snowy mountain tops and the peak of Mount Balwang.
I think it cost about US$10 per person for the ride ( both ways) so it's quite a deal. This is way better than the crammed, sardine-can ride at Mt Sorak.
You can take this ride even if you're not on skis. Do take note however, that the joy ride stops at 4pm.
Fancy dining at more than 1400m above sea level? There is a beautiful Western restaurant that's situated at the peak of Mt Balwang or Dragon's Peak. This place is only accessible by the gondola, so after you make a quick exit from the gondola station, climb the steps to the 2nd floor and dine at this place. It has superb views and they have astronomical prices to match it too.
Yong Pyong can be quite scenic so why not take a walk during the day time while the rest of the people are on the slopes? No point slugging it out there unless you're from a European elite ski patrol troop.
There's a couple of snow festivals here, the more notable one being the Fun, Snow and Ski Festival and a smaller scale one at Hwengye.
I chanced upon the smaller one in Hwengye when I was walking about and since they weren't quite ready yet, I walked in for free to look at the giant sculptures and the poor locals working feverishly to complete one igloo after another...
For the exact dates of the festivals, post a question to the KNTO forum