Jeju attracts 22 billion won in foreign investments

The Jeju Special Self-Governing Province has attracted significant foreign investment from Australia and China during the first quarter of this year. 22.8 billion won was invested in the tourism, hotel, and medical industries alone. 

This is due to Jeju having been promoting diversification in its investment policies. Currently, the aggregate amount of invested funds is 350 billion won from 14 different foreign enterprises.

The two most recent investments have come from companies looking to support the 'Cove Tourism Hotel’ construction project and for the establishment of a 'foreign medical institute.' 

Both structures are to be built in Seogwipo City by next year.Since the end of 2012, a total of six companies have signed on and are committed to start construction in Jeju, accounting for total investment costs of 3.8 trillion won. 

Jeju is expecting this money will help stimulate the local economy, increase the employment rate, and revitalize the construction market.

An official from the Jeju Special Self-Governing Province office stated, "Jeju hopes to boost the sense of unification among its citizens throughthese new projects, which are attracting foreign capital for new developments."