▲ The area of Donam-dong that is due to host creative and high-tech industries. Photo courtesy Jeju Special Self-Governing Province

An innovative high-tech industry complex to be completed by 2018 at 163,000m2 site in Donam-dong, Jeju City. near the main artery of Yeonbuk-no.

The eco-friendly industrial complex will provide an attractive prospect for creative enterprises wanting to relocate to Jeju, many of which struggle to find appropriate locations with the required services and support.

The complex is one of six places chosen nationwide after 13 applications were made in Sept 2014 to the Ministry of Land, Infrastructure and Transport. The other sites are in Daejeon, Ulsan, Namyangju, Gyeongsan and Suncheon.

The complex will also be supported by the Ministry of Strategy and Finance and will target high-tech businesses to boost the creative economy on Jeju.

In addition to providing a high-tech industrial complex focused on IT and software development, the project will also support startups and companies relocating to Jeju Island from elsewhere with incentives including various tax breaks.

To encourage occupancy, green belt and building height restrictions will be relaxed at the multi-functional complex which will include educational facilities. Its central location is also expected to magnify its effect on the wider local economy.

The complex will also benefit from a law revision on Jan 14 which increased incentives for urban high-tech industrial complexes. It is also hoped that having the Korea Land and Housing Corporation implementing could improve efficiency.

The complex is part of Jeju’s wider plans to strengthen creative industries on the island in the IT, game and knowledge industries. These are expected to synergize with Jeju’s existing environmental, science and technology projects.