Huge Publicity for Jeju

Korea-ASEAN Summit generates free media coverage for Jeju, boosting the image of the island as foremost tourist spot in N.E. Asia

The Korea-ASEAN CEO Summit included an investment explanation session on June 1 at the Tamna Hall of the ICC Jeju, the main venue of the Summit, with some 300 government officials and business leaders from both Korea and ASEAN countries attending.
Gov. Kim Tae-hwan of the Jeju Special Self Governing Province opened the investment meeting with his speech, welcoming ASEAN business leaders to Jeju, which he said is a beautiful and peaceful island. The governor said he is very glad for the CEO Summit on the sidelines of the historic Korea-ASEAN Summit. Kim said Jeju is a representative international tourism and leisure resort in Korea with many beautiful sites designated by UNESCO as World Natural Heritage sites, represented by Mt. Halla, and also known for its world-class underground water that can only be found because of its treasure trove of a clear, natural environment.
Right now, he said, Jeju is well on its way to becoming an international free city, which can provide top-level conveniences in the world for the movement of people, commodities and capital.
Jeju attained its status as the only special self-governing province in 2006, a step closer to its goal to be an international free city, and the island has been growing rapidly in that direction as it has all the rights to govern itself in all areas of administration except diplomacy and defense. The governor said various laws and regulations related to business activities have been reformed as well as eased to make Jeju a top investment destination in the world. The island has attracted increased businesses and investors since then, Kim said.
The Berjaya Group of Malaysia makes a solid case as the group pledged $2 billion to build a huge leisure and tourism resort in Jeju, the governor said. In March, the reform of a special law has enabled profit-seeking organizations to operate educational institutions and foreign medical facilities on the island. The province signed an MOU with North London Collegiate School to set up a college in Jeju. The province also signed an MOU with Seoul National University Hospital to build and operate a model of medical and business facilities. The governor said he is sure that an international-level living environment will soon be formed so that foreign residents can live as they wish on Jeju Island. Kim said Jeju Special Self Governing Province is a land of limitless possibilities and opportunities. Seoul, Beijing, Shanghai and Tokyo are all within two hours flight from Jeju, cities with populations of more than 10 million, making the region the biggest potential market in the world.
He also pointed out that the island has very good infrastructure including an international airport and harbors, and produces over 6,000 qualified workers annually from its educational facilities.
"If you would visit us again for investment purposes, I will personally take you around the island to show you that the provincial administration is ready to provide all kinds of investment services," the governor said.
The Jeju provincial administration is going all out to attract international conventions to Jeju Island, following the publicity generated from the Korea-ASEAN Summit held from May 31-June 2 with ASEAN member countries and other foreign media covering the event as a major story and drawing some 7,000 people from Korea and ASEAN member nations including the representatives, staff and press corps, far exceeding the 3,000 earlier expected.
In terms of tourism publicity, it is estimated that the summit generated some 260 billion won worth of free advertising as some of the world's renowned media including CNBC, Reuters TV and other global media provided extensive coverage, boosting Jeju's value as an attractive tourism and leisure spot, ready to be a big-time world tourist destination like Hawaii and Singapore.
The Jeju government has set the target of attracting 132 international meetings to the island this year, generating 150 billion won worth of economic effects. As of the end of May, the local government data showed that 31 international meetings were held on Jeju with 15,515 people attending, generating 32.2 billion won worth of economic value in the local economy. In June alone, 20 domestic and international meetings are scheduled, including the Spring Academic Convention, with some 16,000 people coming to the island to attend those meetings. In the second half, Jeju expects 100 cases of meetings including international ones will take place on the island, some 140 international meetings in the whole of this year alone, the largest number of international meetings held on Jeju in one year. nw

Gov. Kim Tae-hwan of Jeju Special Self-Governing Province delivers his speech at the Korea-ASEAN CEO Summit to explain Jeju's foreign investment policies.