About Jeju
Jeju
Population: Roughly 700,000 people
Size: 1850.3 km2
Language: Korean (Jeju Dialect)
Increasingly multicultural (95% Korean, 5% Foreigners)
Governor: Oh Young Hun
Jeju Island is a province of South Korea that is located to the south of the mainland of the Korean Peninsula. It is the youngest volcanic island in Korea and its history dates back to 70,000 – 80,000 years ago.
The island, previously named Tamna, maintained its status as an independent country for a long period, developing a unique culture and customs distinct from the mainland. In 1946, it was elevated to the status of a province, and in 2006, Jeju Special Self-Governing Province was established.
There are 2 administrative cities, 43 eup/myeon/dong, 172 ri, 577 tong, 5,578 ban, and 618 natural villages.
[Jeju travel] Jeju's specialty, Tangerines.
Jeju Island’s Vision and Goals
Vision
Great People, Great Nature, Great Jeju
Slogan
Toward the Future Together, Shining Jeju
goals
Decentralization &
Local Autonomy
Citizens led
Strong Economy
Industrial and
economic innovation
Sustainability
Clean environment and
rich culture
Convenient Life
Communities that are
evenly better off
New Community Spirit
Respectful and
considerate communities
Happy Residents
Residents’ welfare are
taken care of
Fairness
Youths’ dreams and
ideals are attainable
Source: 2023 Policy Status (Jeju Special Self-Governing Province)
Jeju Island’s Economy
Jeju Island‘s Economy
Jeju’s GRDP (Regional) per capita: USD 23,085 (2021)
- Manufacturing Industries
- Service Industries
1
Public Administration and National Defence (13.0%)
2
Agriculture, Forestry and Fisheries (10.1%)
3
Real Estate
(7.1%)
Jeju Island’s Economic Growth
| Year | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
|
Economic Growth Rate (%) |
+6.3 |
+4.9 |
+6.9 |
+7.4 |
+8.0 |
+4.6 |
-0.9 |
+1.1 |
-6.4 |
+1.2 |
|
|
|
|
|
|
Highest |
|
|
|
Lowest |
Current |
Jeju is a good place to do business
Promotion of 20 listed companies
Establishing a Task Force team for Attraction and Cultivation of Industries, including regulatory innovation and support measures.
Nurturing Listed Companies
Currently supporting 10 Companies in the listing process
- Support for listing strategies
- Internal Controls
- Marketing Assistance
- Accounting advice
Attraction of
Jeju-based Companies
and Investment
Game development
company
Platform developers
System semiconductor companies
Promotion of
Jeju-based Companies
and Investment
Support Ordinance
- Expansion of employment and education training subsidies from KRW 500,000 to KRW 1,000,000 per month.
- Providing support for research expenses and workation work cost.
- Establishing regulations for special support to emerging industries: Providing support measures for new growth industries.
- Regulation on supporting 50% of export subsidies and intermediation fees.
Workation Sanctuary Jeju
Jeju, the preferred
"Workation Sanctuary" for companies
(Ranked 1st in Workation Preference, announced by the Korea Chamber of Commerce and Industry on Nov 23 / 10,000 participants in 2023).
Workation briefing Sessions in Jeju
Conducted in Pangyo, Myeongdong, and Singapore
Total of 121 domestic and international corporations participated
Conducted Workation Farm Tour in Jeju
Establishment of Jeju as a Global Green Hydrogen Hub
A shift towards
energy transition
with a focus on green hydrogen.
The only one in
South Korea
Production and utilization of green hydrogen.
Reduced carbon
emissions
Unlike grey hydrogen, it is an energy source with no carbon emissions.
Achieving carbon
neutrality
Energy independence through renewable energy and green hydrogen.
Establishment of Jeju as a Global Green Hydrogen Hub
First Successful Demonstration of
Green Hydrogen Production in South Korea
Government Quality Certification in South Korea
Government Quality
Certification in
South Korea
Ensuring the purity and safety of hydrogen.
Official Launch of
Green Hydrogen
Buses
Operating approximately 30km from Hamdeok to Sumokwon, making 6-8 trips.
Establishment of a
50MW Green Hydrogen Production System
Conducted Workation Farm Tour in Jeju
Expanding usage to include street cleaning vehicles, trams, ships, and hydrogen power generation
Jeju, The Beginning of Decentralized Energy
A strong contender for South Korea's first
decentralized energy special zone
The First City for UAM Commercialization in Korea, Jeju
Formation of the J-UAM Dream Team
Preparation for the first UAM
commercialization in Korea
Collaboration with Joby
Aviation & Overair
Partnering with Joby Aviation to create an industrial ecosystem for Jeju's UAM, ranging from manufacturing to maintenance, and operation, supporting Jeju's vision of being the first city for nationwide UAM commercialization.
Tourism-oriented UAM & Unique Sightseeing
Jeju aims to address the profitability and acceptability challenges of UAM through tourism. Creating unique UAM tourism routes by connecting major tourist destinations and coastal areas, both north and south.
Establishment of Urban
Air Mobility Laws and Regulatory Infrastructure
The UAM Law enacted on October 24, 2023 initiates preparations for the designation of a pilot operating zone - developing regulatory measures, confirming vertiport locations, and finalizing routes to establish the regulatory infrastructure for commercialization.
- Jeju offers the most favorable environment for the growth of the private space industry with minimal airspace restrictions and proximity to the equator.
- Home to the National Satellite Operations Center managing national satellites.
- Private space companies like Perigee Aero Space, Kontek, iOps, SIIS, Hanwha Systems, among others, are already venturing into space exploration in Jeju.
- Opening the era of South Korea’s independent space launch vehicles.
- Launching vehicles from the waters off Jeju.
- Leading South Korean space company, Hanwha Systems, planning to establish a Satellite AIT facility at the proposed Techno Campus in Seogwipo City.
- Establishing an ecosystem where every step of the space industry, from manufacturing launch vehicles to satellite information services, takes place in Jeju in a one-stop fashion.
Creation of New Value through the
Largest Collection of 9,500 Clean
Biological Resources in the Country
Jeju Bio Industry Promotion Strategy / Leap into the
Global Hub of Clean Bio Industries
By 2030
Expand Jeju’s bio industry scale from KRW 650 billion to KRW 1.3 trillion.
Foster more than 20 bio companies with annual sales of over KRW 30 billion.
Goal to develop 5 new drugs and pharmaceutical materials.
Strengthening the Jeju Green Bio Industry Value Chain
Establishment of the ‘Jeju Black Pig Genetic Resource Research Center’ within Jeju Promotion Institute, designated as a venture clustering facility, attracting three related companies.
Active promotion of ‘Jeju Daum’ and ‘J-Marine Bio.’
Jeju Island’s Culture
Community Spirit
Life wisdom that
encourages people to help
each other
Jeju Dialect
A local language that differs greatly from standardised Korean. Archaic words are preserved, and great deal of foreign words are borrowed, creating a unique vocabulary.
Bonhyangdan
A shrine present in each village where the village guardian deities are thought to dwell.
Folk Religion Ritual
The continuation of a shamanic ritual that calls on 18,000 spirits, and deities
Doldam (Stone Wall)
Jeju stones are black porous basalt, and these black stone walls allowed Jeju people to overcome the harsh environment of the island.
Local Specialties
Traditional Jeju food uses clean ingredients from the mountains and oceans, and cooks them at their freshest (e.g. hairtail fish soup (galchiguk), noodles with pork (gogiguksu) and Jeju-style buckwheat crepes (bingtteok)
Source: Korean Statistical Informtion Service, Jeju Statistics Portal, 2023
Policy Status (Jeju Special Self-Governing Province)