JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) According to a report by the Jeju Development Institute on January 21 on the current status of Chinese investment in Jeju area and its implications, Chinese-invested companies accounted for 63 percent (111 companies) of the total foreign-invested companies in Jeju (176 companies).

By sector, the real estate leasing business accounted for the largest part with 43 percent, followed by food and accommodations (22.9 percent), wholesale and retail business (14.9 percent), business service (7 percent) and travel service (5.3 percent).

Despite China’s large-scale investment in the real estate sector, Chinese investment is far from developing the MICE industry, new growth engine industry including medical tourism, advanced industries including IT and BT and manufacturing industry utilizing on the local resources.

Jeju needs to create new demand by exporting goods to China while Chinese companies find export business models that generate profit.

khc@yna.co.kr

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