JEJU-DO < invest Korea

According to Yonhap News,

Wind power service, next generation food convergence and MICE (Meeting, Incentive, Convention and Exhibition) are selected as leading industries on the second round of project for supporting the Jeju super-regional economic zone.  

Jeju Island said on Jan. 5th that the Ministry of Knowledge Economy chose the three industries to include them in the 22 leading industries (40 projects) that are eligible for government grants under the 2nd Project for Leading Industries in the 5+2 Mega-regional Economic Zone.    

The project involves wind power service taking advantage of Jeju’s advantages, clean health food, beauty and cosmetic products and resort-type MICE. The nine billion KRW-worth project will be conducted from May of 2012 to April of 2015.   

The Wind Power Service Project aims at designing wind power generation complex tapping Jeju’s distinct advantage of strong winds, resources and wind power complex, designing, measuring and evaluating the power generation complex related to certification and demonstration and conducting R&D on marine engineering, operation and maintenance.     

Clean Health Food Project focuses on developing high-tech organic healthy functional food materials and products, modernizing Jeju’s traditional food products and technology and launching new products using environmentally friendly materials.    

The purpose of Beauty and Cosmetic Project is to develop organic and functional cosmetic materials and products made of Jeju’s indigenous resources and medical treatment products and materials for atopic and hair loss treatment made of natural plant extracts.

Resort-type MICE Project focuses on organizing MICE events representing Jeju’s industry and traditional culture and developing convergence products combining its strategic businesses of IT, BT and CT and LOHAS products reflecting Jeju’s emphasis on environmentally friendly approach.  

Jeju Island is planning to select industries eligible for grants through public offering in April and then embark on the project from May, after establishing detailed plans to select business and support budgets at the evaluation of the central government.   

Source Text

Source: Yonhap News (Oct. 13, 2011)

** This is an English translation of a Korean news arcticle.