Rising Concern
over Jeju Investment

Jeju holds the first corporate investment IR session following its elevation to a special self-government province

Jeju organized a corporate investment IR session on September 28th for the first time since it was elevated to a special self-government province. The event turned out to be a success with as many as 500 participants showing keen interest in the investment potential.
The Jeju provincial government focused its publicity activity on such remarkably overhauled conditions of corporate and investment environment as the expansion of a visa waiver system for foreigners, permission on the establishment of foreign educational and medical institutions, and introduction of a one-stop administrative process and support system.
The provincial government's explanation on the major policies on the cultivation of tourism, education and medical industries as its mainstay sectors as well as offering incentives to domestic investors into the investment promotion zones became the subject of attraction for participants. In particular, would-be investors showed their concern over their possible relocation of such advanced industrial sectors as information technology and bio-technology businesses to Jeju.
During the following consultation session, six investors submitted an application to move to the Bio-Research Building, an R&D-based facility providing necessary equipment and services for product development of new technology improvement of processing and commercialization in Ara-dong, Jeju. Additionally two companies said they would consider entering the renewable energy sector and IT industry in Jeju.
Jeju pursues the so-called 4 Plus 1 strategy for nurturing key industrial fields - tourism, medical, educational and primary industry together with the high-tech industry of IT and BT.
About 70 companies, which held initial consultations, said they wanted to resume consultations in Jeju or Seoul.
Jeju Gov. Kim Tae-hwan sad in his speech, "jeju will ease restrictions for individual and corporate investors and wholeheartedly extend support together with 1 million residents."He said his government will do its utmost to establish a foundation for the development of key industries by not only expediting new investments, but also relocating state-of-the-art industries as well as medical and educational businesses to Jeju.
The provincial government jointly organized the investment session together with such related organizations as Korea National Tourism Organization, Jeju Free International City Development Center and Jeju Hi-Tech Industrial Development Institute unlike the previous years when it held such events on its own. nw

Jeju Gov. Kim Tae-hwan