JEJU-DO < invest Korea

According to Yonhap News,

Jeju-do is aiming to achieve USD 10 million in cosmetics exports from local green bio companies by 2030.

On February 22, Jeju-do held an event to announce the "Jeju Green Bio Industry Innovation and Growth Plan," setting ambitious goals, including nurturing 10 green bio companies with sales exceeding USD 30 billion by 2030, achieving USD 10 million in cosmetics exports, and developing at least five new veterinary drugs.

Jeju-do plans to cultivate talent tailored to businesses, establish green bio venture campuses, and provide corporate support in connection with government bio funds.

Additionally, Jeju-do plans to improve productivity and promote material research and development through the digital transformation of processing and manufacturing processes based on artificial intelligence (AI) and big data.

In connection with the "Jeju Bio Industry Development Strategy" announced in 2023, Jeju-do aims to foster the green bio industry as a future strategic industry by integrating agricultural and bio technologies to increase productivity and create high added value.

At the event , a virtual performance representing the green bio industry in the metaverse was presented, along with promotional events for cosmetics and pet industry products, and a flea market was also operated.

The green bio industry is a new industry that applies biotechnology and other technologies to agriculture to improve productivity and create added value.

Jeju's Mayor stated, "Jeju's green bio industry, utilizing clean resources, is a future strategic business where local residents and companies grow together."

koss@yna.co.kr

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Source: Yonhap News (February 22, 2025)