JEJU-DO < invest Korea

Jeju to foster the digital industry through digital promotion plan and effective support projects

Jeju Special Self-Governing Province and Jeju Technopark are actively working on the ‘2022 Region-led SW Growth Support Project’ to expand new local markets and create jobs by using software (SW).

This project, which started in 2014, has been supporting market revitalization and discovery of SW industry policies in Jeju by effectively supporting promising IT products and services of IT/SW SMEs in Jeju and utilizing industry-academic networks in Jeju's ICT sector.

The province plans to establish Jeju Digital Promotion Plan through this project, which will be invested with KRW 400 million this year, and select 3 companies for each of the marketing support and exhibition participation support, providing intensive support.

Last year, this project supported 28 companies in total, including ▲marketing support for 21 companies, ▲technology transfer for 2 companies, and ▲ grievance relief consulting for 5 companies. It improved corporate management environment, create 53 jobs and attracted KRW 4 billion investment.

In particular, the two companies that received technology transfer support successfully produced prototypes and attracted more than KRW 100 million in investment for developed IT products, and are generating profits by commercializing these products.

In addition, the province will establish the Jeju digital promotion plan with the goal of preparing for the era of digital transformation in the rapidly changing local economy and society. With this plan, the province will devise a plan for creation of a new digital industry in Jeju, such as fostering industries using digital technologies including artificial intelligence (AI) and data.

Source : Jeju Special Self-Governing Province (2022.03.22.)