Jeju seeks investment to become business hub

Summary>
Since the National Assembly approved a set of bills to expand autonomy and ease regulations on investment and education on Jeju Island last year. Under the government's plan, the island will specialize in medical tourism and "English town". The government also plans to develop a cutting-edge industrial complex for information and communication technology and bio-technology companies.
In Jeju, foreign corporations are permitted to run hospitals on the island while continuing to ban domestic profit organizations from the medical service sector. The Jeju provincial government will ease restrictions on marketing activities by medical institutions targeting foreign patients and overseas Koreans who are not covered by domestic health insurance.
The Jeju government plans to open "English Education City" in southwestern part of the island to increase competitiveness of the service industry and curb growing deficits in the education sector. The English town will also attract branch campuses of universities in English-speaking countries. The Jeju government said it is also discussing with the central government to relax regulations on foreign schools on the island.

Opinion>
The Jeju government said it will focus on three key development projects - medical tourism, technology based-industrial complex and English town. But, there is an old saying that Jack of all trade is no master of one. Similarly, developing society should be intensive in particular parts.
Medical tourism has a chance of success because the fee of medical treatment in Korea is cheaper than any other developed nations. And Jeju-do has many tourist attractions like sea, craters, a mild climate, tangerine and Dol-ha-ru-bang. But there is a critical issue on privatization of medical insurance. If it is realized, Jeju has no competitive power on price of medical treatment.
Technology based-industrial complex will be most successful. Information and communication industry and bio-technology industry don’t need to be placed in land. Jeju is citing tax incentives, low rents and employee welfare and enhances employees productivity and creativity while working and living in the island
But I think that ‘English town’ has no value to invest because some English town has already been build near Seoul, and English camps are being holding in many universities.

References;
Author: Cho Chung-un
Title: Jeju seeks investment to become business hub May 23, 2008
http://mail2.daum.net/hanmail/mail/ViewMail.daum?MSGID=0000000000005Xk&FOLDER=%ED%9C%B4%EC%A7%80%ED%86%B5&mpage=1&KEYTYPE=&KEYWORD=&_top_hm=w_read

20600613 9th entry