JEJU, Jan. 4 (Korea Bizwire) — The island province of Jeju announced on December 3 that it will initiate preliminary reviews into establishing a “Shared Economy Resource Center” that will loan out expensive equipment like 3D printers and drones to potential entrepreneurs.
The borrowers will be able to get their hands on expensive equipment by paying minimal fees, and companies already in business will also be able to take advantage of the Shared Economy Resource Center to cut down on manufacturing and distribution costs.
The construction of the building that will house the new resource center is scheduled to take place from 2019 through 2020 on 3,000 square meters of land on the grounds of the 2nd Jeju Science Park.
The budget for Jeju’s project is set at 12.03 billion won through 2021, with 10 billion won coming from national coffers and the island government expected to assume funding for the project in 2021.
The hope is that the Shared Economy Resource Center will boost local startup activity and lend a helping hand to Jeju businesses requiring cutting-edge technology but lacking the financial means to procure such equipment outright.
An official from the Jeju government pointed out that the Shared Economy Resource Center will result in a decline in environmental pollution.
Kevin Lee (firstname.lastname@example.org)