JEJU-DO < invest Korea

According to Yonhap News,

The city of Seogwipo announced the signing of an MOU on Jan 27 with Jeju Province Development Co. for the establishment and management of what’s called startup towns to be located within Seogwipo city. Under the contract agreed upon, Seogwipo city takes the role of administrative body to push forward the town establishment project, whereas JDC undertakes the charge of construction and management.

The project aims to form a business incubator like space which houses residential areas and office spaces offering business assistance services for young entrepreneurs in the community. The town, which will be set up on a 1,901㎡ site within the city, is anticipated to promote entrepreneurial spirit and reinvigorate regional economy. The cost for the construction is reported to total KRW 21.2 billion.

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Source: Yonhap News (Jan 27, 2021)