JEJU-DO < invest Korea

(JEJU=Newsis News) Jeju Special Self-Governing Province announced that it aims to attract five companies and create 300 jobs this year.

Target companies are information technology, bio technology, and environmental technology firms currently doing businesses in the metropolitan area. The island plans to push forward with the initiative through joint marketing with Korea Land & Housing Corporation and Jeju Free International City Development Center (JDC).

Jeju plans to step up its efforts to attract businesses through investment promotion activities such as site tours and presentation meetings tailored to companies seeking relocation to the resort island.

In accordance with the government subsidy guidelines for business relocation to local areas, companies moving into Jeju are provided with 10% more subsidies compared to other regions. The number of eligible companies for support is also 10% higher.

The island plans to ease requirements for support by revising ordinances related to investment promotion and come up with measures to attract excellent firms to Jeju.

Following the revision of ordinances, required number of full-time employees of companies in the knowledge service industry or new growth engine industries will be lowered to 10 from current 20, and that of the IT industry will be down to 10 from 30 to provide subsidy for rent, equipment purchase, as well as education and training.

kjm@newsis.com

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Source Text

Source: Newsis News (Jan. 5, 2016)