JEJU-DO < invest Korea

According to Newsis,

Jeju Special Self-Governing Province kick starts bringing investors and entrepreneurs in capital cities with business opportunities into Jeju Island. The provincial authority announced on Mar 7 that the Ministry of Trade, Industry and Energy (MOTIE) has approved this year’s budget for investment incentives, worth KRW 900 million, which involves marketing Jeju city as a destination for inward investment. The incentives are type of cash grants designed to encourage municipal authorities to attract investments in accordance with Special Act on Balanced National Development.

The budgets are set to go to Mister Milk, a locally based VC startup firm. Mister Milk, a dairy products manufacturer headquartered in Seoul city has signed an MOU with provincial government in March last year over a KRW 8 billion worth of investment in Jeju city. Mister Milk agreed to build out its production facility and customer experience zones on a 2,484㎡ site near Hallim-Eup, adding 30 new jobs. They showed anticipation over the possibility of sourcing high-quality ingredients to make ice cream, milk and cheese, while developing a customer-interactive business model to give a boost in tourism business as well.

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Source: Newsis (Mar 7, 2021)