“Jeju began a no visa policy in 2002, and has allowed permanent residence for investors since 2010. Jeju attracts 12 million tourists in and out of Korea every year, and as of 2013, the number of Chinese tourists to Jeju surpassed the 2 million mark. We expect more tourists and investment from China.”
“We welcome Chinese tourists and their investment following three principles: environmental protection, balance among the investment sectors and investment raising the future value of Jeju. To protect its environment, we are strictly dividing possible places and impossible places. Also, as too much focus on a certain sector could cause damages to both investors and Jeju due to an investment bubble, we should maintain balance between the sectors.”
“In addition, we welcome investments which raise the future value of Jeju, such as recreational facilities like healthcare or nursery homes which fit well with the clean environment. Further, we also welcome convention facilities for international conferences and IT investment from Alibaba of Ma Yun(Jack Ma). Companies investing in Jeju should succeed. Under the conditions, we welcome investment to any degree.”
- Won Hee-ryong, Governor of Jeju Special Self-Governing Province
At the conference, Governor Won introduced the nature and history of Jeju, and stressed the three investment principles of environmental protection, balance among the investment sectors and investment raising the future value of Jeju. (image: Jeju Province)
SEOUL, Jan. 13 (Korea Bizwire) – Won Hee-ryong, governor of Jeju Province, invited 23 media companies to a press conference in Shanghai on January 12, the last day of his China visit, to explain Jeju’s investment policies. At the conference, Chinese media like CCTV and Xinhua in addition to world famous outlets like Reuters and The Wall Street Journal joined and showed their interest in Jeju.
At the conference, Governor Won introduced the nature and history of Jeju, and stressed the three investment principles of environmental protection, balance among the investment sectors and investment raising the future value of Jeju.
In response to a question related to the “investment restriction policy” during the Q&A session, Won said, “We should protect our environment and prevent oversupply and bubbles to protect investor’s interests. We are trying to maintain balance, not restrict investment.”
With regards to the China-Korea FTA, he elaborated on his wish of further expansion of bilateral trade and investment. Also, he expressed hope for projects using Jeju’s environment for the mutual interest of China and Korea.
Meanwhile, after the conference, Won signed an MOA with Greenland Group on the exports of Jeju products to China. According to the MOA, Greenland Group will expand the imports of Jeju products from seafood and processed food to cosmetics, health food and fresh agricultural products to China.
In addition, the group will open 11 on and offline retail shops, and expand its distribution channels. Greenland Group will sell Jeju products at its hotels, of which there are 70 including 47 under construction.
By John Choi (johnchoi@koreabizwire.com)
