20501005 - Entry 11

Jeju seeks investment to become business hub

Promote Jeju!! Make Jeju a place where everyone wants to visit and do businesses.


Summary
The Jeju government said yesterday it will focus on three key development projects -- medical tourism, technology based-industrial complex and English town -- to develop the resort island into an international business and tourism hub. Calling the island, "the land of promise," Kim Tae-hwan, governor of the Jeju Special Self-governing Province said in an investment seminar held at a hotel in Seoul yesterday that he will make the island the most favorable place to stay and to invest in East Asia. The investment forum, which drew about 600 participants, was jointly hosted by the government of the Jeju provincial government and the Jeju Free International City Development Center.

My Opinion
This is an article about how Jeju tries to reposition and create value for attracting foreign people and investors . It seems to me it is very similar to what president. Lee said couple of weeks ago in Korea investment forum. In that forum, President Lee suggested and promised he will reduce many barriers such as tariff and many taxes to attract foreign direct investment. It was very impressive that president. Lee stated “Welcome all of you to Korea, please invest to Korea! I am CEO of Korea and I am here to promote Korea!” He seemed to be a marketer who sells the product ‘Korea’ to foreign companies. I think he did very good job. This is an era in which Korea is suffering from economic recession. I think we can't overcome the economic difficulties without F.T.A or direct investment from foreign companies. Like president. Lee did, Kim Tae-hwan, governor of the Jeju Special Self-governing Province is doing good job. He emphasize on Jeju’s strengths; medical tourism, technology based-industrial business and tourism hub. I was very surprised that Daum, which is one of biggest IT companies in Korea, has moved its head quarter to Jeju Island.
To sum up, these efforts might be very helpful to Jeju. All leaders should be a great marketer and promote well. This is how we can survive in such competitive era.

Reference:Jeju seeks investment to become business hub by Cho Chung-un(christory@heraldm.com), May 22, 2008, The Korea Herald