JEJU-DO < invest Korea

Jeju is riding a very good wave of investment. In the middle of the economic stagnation caused by the prolonged pandemic, Jeju Island and OSULLOC signed an investment contract worth KRW 35.7 billion.

Established in 2007, OSULLOC is a comprehensive tea manufacturing company equipped with the best human and material resources, from the development of tea tree species to the research, harvest, and processing of tea. The company currently operates 4 organic tea fields in Jeonnam Gangjin and 3 in Jeju. Tea produced in these regions is exported domestically and internationally with recognized quality and technology.

Through the investment agreement with Jeju Island, OSSULOC plans to establish a green tea processing factory and an experience facility the size of 11,03 ha in Namwon-eup, Seogwipo-si, and hire 30 local residents. Given the nature of the business that creates added value by selling processed tea leaves, the new green tea factory and the experience facility are expected to make various synergy effects such as the increased income of farmers, facilitation of local economy, new sales routes for tea tree farms, and more exports utilizing Jeju's image of clean nature.

"Once built, the green tea factory will also have the effect of reinvesting more than KRW 50 billion each year in the region, in parts such as packing materials, logistics, consumable goods, and oil. In addition, it will create an infrastructure that will enable Jeju to become the mecca of production," said one farmer.

No matter the economic downturn caused by the COVID-19 virus, Jeju plans to provide administrative and financial support to OSSULOC for ongoing business investment.

Bird's eye view of the green tea processing factory and experience facility