Shanghai, August 31, 2015 /PRNewswire/ -- For a long time, China's Hong Kong and Singapore have been hailed as Asia's two major international free islands due to their unique geographical advantages, policy stances, and international status. In recent years, South Korea's Jeju Island, with its planning and development as an international free city, is rapidly emerging as Asia's third-largest free island.
Jeju Island is the largest island in South Korea, facing the Korean Peninsula across the Jeju Strait, with a total area of over 1,800 square kilometers. The island has two cities, Jeju City and Seogwipo City, while the rest of the area is primarily tourism-focused. Its subtropical maritime climate and unique landforms formed by volcanic eruptions create Jeju’s picturesque natural scenery of mountains and seas. Multiple sites, including Hallasan Mountain and Seongsan Ilchulbong Peak, have been designated as UNESCO World Natural Heritage sites, earning it the nickname "Hawaii of the East." Currently, Chinese tourists can visit Jeju for sightseeing without a visa, which brings great convenience.
Core planning of the Free Island propels Jeju’s rise
In 2002, the South Korean National Assembly passed the "Special Act on the International Free City of Jeju," officially establishing the special zone status of Jeju Island in legal form and launching the "Comprehensive Plan for the Construction of the International Free City of Jeju." In 2006, South Korea enacted the "Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of the International Free City." In the same year, Jeju Special Self-Governing Province was established. The South Korean government provided Jeju Special Self-Governing Province with over 1,000 unprecedented support policies, aiming to build Jeju into a future-oriented, internationally competitive hub city in Northeast Asia, comparable to Hong Kong and Singapore.
The chairman of the Jeju Free International City Development Center (JDC) once stated, "The future Jeju will not only be a tourist destination but will also develop into the most outstanding international free city in Northeast Asia, equipped with comprehensive functions such as high technology, logistics, and finance, just like Hong Kong and Singapore."
Six core projects shape the future of Free Jeju
Due to its small land area and limited domestic market capacity, South Korea’s new economic development zones are now largely focused on serving the entire Northeast Asian market, especially the massive Chinese market. Bian Jingyi, chairman of the Jeju Free International City Development Center (JDC), introduced that Jeju Island is within a two-hour flight of five major Asian cities: Seoul, Tokyo, Beijing, Hong Kong, and Shanghai. "This two-hour flight circle" covers China, South Korea, and Japan, encompassing 17 cities with populations exceeding 5 million, indicating huge market potential.
Currently, JDC is initiating and advancing six core projects on Jeju Island: by 2015, it aims to complete the construction of the Jeju English Education City, the Myth & History Theme Park, the High-Tech Industrial Complex, the Leisure Residential Complex, the Health & Medical Center, and the Seogwipo Tourist Port.
Landing International Sails into Jeju Building an Intercontinental Resort Landmark
In 2013, Landing International, a comprehensive investment enterprise from China, officially signed a contract with the Jeju government to initiate development of the “Myth & History Theme Park Project,” one of JDC’s six planned projects. Yan Zhihui, chairman of Landing International Group, stated:““We plan to invest 1.9 trillion KRW to build a theme park based on the world’s seven major mythologies and historical cultures from Asia, Europe, South America, and other regions, along with the island’s largest villa resort.” Landing International’s entry into Jeju not only brings its core concept of being a “premium lifestyle creator” from China but also partners with the global entertainment kingdom — Genting Singapore — to create a sister project to “Resorts World Sentosa.” On a land area of 2.52 million square meters, it aims to meet the all-in-one entertainment and vacation needs of top-tier families. The plan includes Korea’s first Myth & History Theme Park, an aquatic adventure park, high-end commerce, specialty dining, permanent residency options, and more, creating a top-tier integrated entertainment kingdom and an intercontinental resort landmark.
ChinaLanding International’s “Jeju Island-Landing Resort Park” is a comprehensive overseas resort product that meets multiple functional needs such as vacationing, studying abroad, investing, retirement, and immigration. It offers first-class value, allowing one property purchase to secure family immigration and permanent property rights. It is one of the top choices for immigration and real estate investment in developed countries across East Asia and even the world, and is also one of the most valuable and investment-guaranteed projects on Jeju Island.
Jeju Island-Landing Resort Park occupies approximately 1.62 million square meters within the R and H zones of the Jeju Myth & History Park Integrated Resort. It includes a total of 1,518 high-end residences, comprising 229 villas and 1,289 townhouses, all delivered fully furnished, with areas ranging from approximately 156 to 1,129 square meters. Zone R has a plot ratio of only 0.156 and a green space ratio as high as 65%, while Zone H has a plot ratio of 0.25 and a green space ratio of 42%, truly exemplifying low-density luxury living.
Jeju Island – Landing Resort Park occupies approximately 1.62 million square meters within the R and H zones of the Jeju Myth & History Park Integrated Resort. It includes a total of 1,518 high-end residences, comprising 229 villas and 1,289 townhouses, all delivered fully furnished, with areas ranging from approximately 156 to 1,129 square meters. Zone R has a plot ratio of only 0.156 and a green space ratio as high as 65%, while Zone H has a plot ratio of 0.25 and a green space ratio of 42%, truly exemplifying low-density luxury living.
Thanks to the gradual completion of projects such as the Jeju Myth & History Park Integrated Resort invested in by Landing International, the international free city planned by Jeju JDC is taking shape. The future third-largest international free island in Asia will present itself to the world with a more open and renewed face.