JEJU-DO < invest Korea

[Jeju=Newsis] Panoramic aerial view showing Jeju City's old downtown area, eastern coastal district, and Mount Halla rising in the background. (Photo=Newsis DB) ijy788@newsis.com

According to Newsis,

[Jeju=Newsis] Reporter Kim Soo-hwan = Jeju Special Self-Governing Province will relax eligibility requirements for companies relocating to Jeju while expanding location, facility, and logistics subsidies. A new settlement allowance will also be introduced to assist employees of relocated firms in settling locally.

Jeju Province announced on the 6th that it is pursuing amendments to the 'Jeju Special Self-Governing Province Ordinance on Enterprise Attraction Activation and Investment Support' to boost corporate relocation and investment.

The amendment focuses on lowering initial investment burdens for relocating companies while expanding support for employment, workforce settlement, and logistics costs.

First, the full-time employment requirement for relocating enterprises will be lowered from 20 or more employees to 10 or more. For regionally specialized industries and new growth engine industries, the requirement will be further eased from 10 or more to 5 or more employees.

However, to incentivize investments above a certain threshold, a new minimum investment requirement of KRW 500 million (USD 376,000) will be established. Companies that meet specific criteria—including those relocating from the Seoul Capital Area—will be defined as local relocated enterprises and included in support eligibility regardless of their region of origin.

- Location and facility subsidies will also be expanded:
- Location Subsidy Support Rate: Raised from 25 percent to 30 percent
- Facility Subsidy Support Rate: Raised from 10 percent to 15 percent
- Additional Subsidies: An extra 5 percent for regionally specialized industries and 10 percent for enterprises entering Opportunity Development Zones (ODZ)

Employment support criteria will be eased as well. Eligibility for new hiring subsidies will be lowered from companies hiring more than 10 new workers to those hiring more than 5, with the support ceiling expanded up to KRW 300 million (USD 226,000).

Monthly support for specialized research and development (R&D) personnel will be raised from KRW 2 million to KRW 3 million (USD 2,256) per person. Additional subsidies will also be made available to companies that hire local Jeju residents.

Furthermore, a settlement allowance will be created for employees of relocated companies who move to Jeju and maintain continuous residence for a specified period. This measure aims to assist companies in securing core talent and encouraging long-term retention.

Logistics support—a long-standing area of concern for businesses—will be significantly expanded. Instead of providing up to KRW 200 million (USD 150,000) over two years from project commencement, support will be restructured to provide up to KRW 100 million (USD 75,000) annually for 5 years, totaling up to KRW 500 million (USD 376,000).

On the 28th of last month, Jeju Province hosted a roundtable with local relocated enterprises to gather feedback on bottlenecks and support systems during investment and relocation processes.

Key opinions raised during the meeting included securing specialized R&D talent, facilitating regional settlement for relocated employees, and easing logistics burdens. Attendees also stressed the need for tailored, stage-by-stage support—from newly relocated firms to early-stage settled companies, expanding enterprises, and long-term established firms.

Following ordinance and regulation reviews along with Jeju Provincial Council deliberations, the amendment is targeted for implementation in January 2027.

Kang Ae-sook, Director General of the Economic Vitality Bureau of Jeju Province, stated, "We will tailor our support to growth stages and field conditions so that companies can invest in Jeju and settle stably," adding, "We will continuously refine support systems and maintain active communication with relocating enterprises to meticulously address on-site feedback."

◎ NEWSIS, notedsh@newsis.com



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Source Text

Source: Newsis (September 06, 2026)

** This article was translated from Korean.