JEJU-DO < invest Korea

According to Yonhap News,

Jeju has decided to invest a total of 18.5 billion won in four projects including wind power generation, clean health food, beauty and cosmetics and resort-type Meeting, Incentives, Conferencing and Exhibitions (MICE), designated as its promising industries.

The operation budgets vary depending on an individual project basis: 5 billion won in wind power generation, 4.5 billion won in clean health food, 5 billion won in beauty and cosmetics, and 5 billion won in resort-type MICE.

The wind power generation project will focus on developing the technology for establishing wind power plants utilizing Jeju's strong winds, and conducting research on marine engineering and maintenance of the facilities.

The clean health food project will put emphasis on developing substances for functional, natural, healthy food and modernizing Jeju's traditional food.

The beauty and cosmetics project will provide supports for developing organic and functional substances for cosmetics and medical treatment for atopic patients.

Lastly, the resort-type MICE project will focus on organizing Jeju's industry or traditional culture-related MICE events, developing convergence products of combining IT, BT and CT and LOHAS products that emphasize environmentally-friendly living methods.

Jeju will select companies that will take part in the projects for a month, and then start them from May.

The projects plan to be implemented for three years and then operation budgets will be readjusted based on the annual achievements of individual companies.

Source Text

Source: Yonhap News (Mar. 22, 2012)

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