Investment Environment

• Independence of Administration in All Areas except for National Defence, Foreign Affairs, and Administration of Jurisdiction
  • Unification into One Local Government for Administrative Efficiency
  • 1 province, 2cities 2counties ⇒ 1 province, 2cities
  • Application of Deregulation System for Investors
  • Authority over deregulation transferred to Jeju
• Tourism, Education, Medical, and Hightech Industries Selected as Core Industries of Jeju Special SelfGoverning Province
  • Establishment of Foreign ProfitMaking Medical Institute
    • Investment of over 5million USD (over 50% of Overseas Capital)
    • Pharmacy Exclusive to foreigners / Available to employ foreign medical professions
    • Permission to Operate ProfitMaking Business (Tourism) & Provide Incentives
    • Extended Stay (4yrs) in Jeju without Visa, for Foreign Patients & Their Families
  • Opportunities to Establish Academically Certified Foreign Education Insititutes
    • Admission Ratio for Korean Students Extended up to 50% Ratio is Flexible for University
    • Permission to Establish International Schools from Primary to High School
  • Promotion of Jeju Global Education City (Completion by 2013) by the Central Government with total development area of 4,258,000㎡
    • Primary · Middle · High School with English Language Curriculum (Capacity 9,000 students), Foreign Educational Institute, English Education Center etc.
  • Design the Basis for Growing HighTech Industry, IT ․ BT
    • HighTech & Science Park: Jeju City, 1,096,000㎡, Development Completion & Commencement of Tenant Operation Expected the 2nd Half of 2008
    • Jeju Bio Science Park: Jeju City, 11,448㎡ Jeju bioIndustry Development Center, Jeju BioIndustry Center ⇒ Development of Productive Technology, Commercialization of Study Outcomes, Strengthen Corporate Competence including Support Ads
    • Venture Business Support Center: Jeju City, 14,260㎡, Opening the 1st Half of 2009
• Efficient Approval Procedures
  • Newly Established OneStop Administrative Service Division
    • Shorter & Efficient Approval Procedure: 22months ⇒ 8months Central Government Authorities Transferred to Jeju Special SelfGoverning Province
    • Authority over Casino Business, Regulation on Development Business, Environmental Stewardship, Designation of Jeju Investment Promotion Zone etc.
  • Land Reservation System, Right for Eminent Domain for Investors
• Special Benefits for Foreign Investment
  • Foreigners Only Casino Business in Case of Investing over $ 50 million US
  • Increased Benefits Only Casino Bisiness who Qualify & Locate in the HighTech & Science Park by Jeju Investment Promotion Zone Designation
    • Corporate Income Taxes : Exempted 100% for 3yrs, 50% for 2yrs => 100% for 5yrs, 50% for 2yrs
  • Longer Residence Stays for Foreigners Who Purchase Condominiums over & 200,000 US(3 months => 12 months)
  • Permanent Residency for Foreigners Who Invest over $ 500,000 US
• Strengthening Related Industry for Active Investment
  • Extended Service for Duty Free Shops for Domestic Travellers & Additional Duty Free Shops
  • Easy Access to Jeju International Airport for Overseas Airlines (Free Aviation Privilege)
  • Deregulation on Investment Sum Amounts in Jeju Investment Promotion Zone & HighTech Science Complex