JEJU-DO < invest Korea

According to Yonhap News,

Several Chinese large companies demonstrate their willingness to make investment in Jeju's medical tourism industry.

CSC, a Beijing-based medical supplier, inked a USD 100 million investment memorandum of understanding (MOU) with Jeju early this month.

Under the MOU, CSC will build a medical center and accommodations in Seogwipo City to attract Chinese tourists.

The company already purchased a 10,200 square meter-land and a 7,700 square meter-land in Hogeun-dong and Beophwan-dong, respectively, last year and plans to start the construction of the medical center and accommodations in the first half of this year. It also signed a cooperation agreement with Jeju Halla Hospital in preparation of the massive inflow of Chinese medical tourists.

CSC runs three hospitals in Tianjin, Beijing and Shanghai and engages in the development of traditional Chinese medicine.

Another Chinese company Greenland Group started the construction of a medical R&D center, resort & cultural facilities and accommodations on a 778,000 square meter-land in Jeju Healthcare Town in last October.

Greenland Group plans to invest 200 billion won to build a resort condominium by 2014 via its Korean subsidiary Greenland Korea Investment & Development CO., LTD. in the first phase of its project. Its second project includes the establishment of a wellness mall, a well-being food zone, a healing garden, a Thalasso resort, a medical R&D center and an anti-aging center with the total investment worth 1 trillion won.

Greenland Group, a Shanghai-based real estate developer, is a state-run corporation that ranks 87th in corporate evaluation in China and is included in the global 500 companies.

These investments will give a boost to Jeju's tourism industry, Jeju expects.

Source Text

Source: Yonhap News (Jan. 10, 2013)