JEJU-DO < invest Korea

According to Yonhap News,

Jeju unveiled its plan to designate Jeju Global Education City being constructed on a 3.792 million square meter-land as the Investment Promotion Zone next year.

Designation of Jeju Global Education City, one of the core projects of Jeju Free International City, as the Investment Promotion Zone will facilitate investment from the private sector.

Jeju reviewed the feasibility of the designation upon the request of Jeju Free International City Development Center (JDC) and will announce the designation after completing deliberation by the comprehensive planning committee of Jeju Free International City.

Designated regions will benefit from the reduction of development expenses for infrastructures, including sewage system and roads. International schools, foreign educational institutions and educational institutes will be given 100 percent tax breaks for the first five years and ten years in corporate tax and property tax, respectively.

The JDC, developer of the project, will inject a total of 1.7806 trillion won into building Jeju Global Education City where 12 international schools, foreign educational institutions and residential and commercial facilities will be built.

Currently, North London Collegiate School Jeju and the international public school KIS Jeju opened in the city and Branksome Hall Asia, Canada's renowned private girls' school, is scheduled to open in October.

Source Text

Source: Yonhap News (May 15, 2012)

** This is an English translation of a Korean news article.