JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) Jeju Island signed a business agreement with EnlightVentures Co., Ltd., a venture capital investment company, on the creation and operation of the Jeju Fourth Industrial Revolution Fund at Jeju Center for Creative Economy and Innovation (J-CCEI) on December 17.

The purpose of the agreement was to strengthen the fourth industrial revolution infrastructures in Jeju by fostering innovative enterprises with high growth potential.

The two sides will cooperate to find innovative companies with high potential for growth and will expand the scope of investment support by gradually changing the funds for future- oriented new technology sectors.

The island and the company will work together to create a Jeju-type start-up ecosystem capable of sustainable growth, such as fostering promising start-up businesses in Jeju and attracting similar start-ups from outside Jeju.

The island government will provide investment or provide necessary funds for assets to support investment in Jeju. The government will include EnlightVentures in the candidate group of new businesses for investment, and will introduce related organizations to help the company facilitate its projects.

EnlightVentures will provide investment consultations to stimulate investment for innovative companies, and take part in related projects. It will invest in Jeju more than twice as much as the amount of funds invested in Jeju, and will allow the island-based companies to participate in programs such as the technology start-up support (TPS) program.

The agreement will help attract investment for start-ups in the region and prepare for the fourth industrial revolution.

Source Text

** This article was translated from Korean.

Source: Yonhap News (December 19, 2018)