JEJU-DO < invest Korea

According to Yonhap News,

This year, investment in Jeju tourism development sites and investment promotion districts has been on the rise.

Jeju-do announced the results of investment and employment status of 61 tourism development business sites and investment promotion districts on November 22.

The number of those included are: 21 tourism development sites, 16 amusement parks, and 24 investment promotion districts.

The total investment this year to the end of June was KRW 11.97 trillion, a 0.5% (KRW 125.1 billion) up from KRW 11.845 trillion last year.

The total investment record also rose by 64.6% compared to the initial plan (KRW 18.543 trillion).

The participation of local companies in construction in the first half of this year recorded KRW 3.67 trillion, a 1.3% up (KRW 137.1 billion) compared to KRW 2.90 trillion last year.

In terms of employment, local residents accounted for 74.45% of total employment, with 6,697 local residents being employed out of total 8,995 employed.

The employment rate of local residents decreased by 0.01% from last year's annual employment rate of 74.46%.

Jeju-do explained that investment in some large-scale business sites, such as Jungmun Tourism Complex, Sammaebong Amusement Park, Saekdal-dong Rural Recreation Complex, and Halla Healing Park, are still underway.

The provincial government is also planning to take administrative measures including business normalization order and recovery order for business sites that do not operate some facilities or recorded lower employment.

The province has been making public announcement of performances by investment promotion districts and tourism development projects approval since 2017.

koss@yna.co.kr

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Source: Yonhap News (November 22, 2021)