JEJU-DO < invest Korea

According to Yonhap News,

Jeju will increase subsidies for land supply and facility investment for companies that move to Jeju Island from the Seoul Metropolitan Area.

Jeju said on Tuesday that it will implement the Support Program for Boosting the Regional Economy that increases its corporate subsidy rate for land purchase or rental and for facility investment, such as construction and equipment, from 40% to 45% and from 10% to 15%, respectively.

The subsidy for land purchase or rental was provided in two installments, but will be provided in a lump sum.

Jeju has already started to support 10% of facility investment for companies that move to Jeju from the non-Seoul Metropolitan Area.

However, if the company that received subsidies fails to comply with the agreement both sides reached, Jeju will confiscate the whole amount of subsidies including interest rates.

Jeju plans to attract promising companies and corporate training institutes, which can boost exports and its tourism industry and create jobs, through organizing investment attraction seminars and visiting companies.

Source Text

Source: Yonhap News (Feb. 21, 2012)

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