Jeju Real Estate Special Report | Policy Briefing

Jeju's Investment Immigration Program for Tourism and Leisure Facilities Extended Until End of 2027 Investment Amount Maintained at 1 Billion Won... "Aiming to Create a Stable Investment Environment and Revitalize the Local Economy" Jeju Special Self-Governing Province and the Ministry of Justice have officially announced the extension of the 'Tourism and Leisure Facilities Investment Immigration Program,' initially set to end in April 2026, until December 31, 2027. The core standards, including the existing investment threshold of 1 billion won and applicable facilities, will remain unchanged. This extension is seen as a measure to ensure predictability for foreign investors and invigorate the lagging tourism infrastructure. 📋 Key Program Guide Investment Requirements Minimum Investment: Over 1 billion won (raised in 2023) Eligibility: Foreign investors with no nationality restrictions Obligations: Maintain investment for at least 5 years and submit regular reports Visa Acquisition Process Step 1 Real Estate Investment (Over 1 billion won) ➔ Step 2 Residence Visa (Issue of F-2) ➔ Step 3 Permanent Residency (F-5 after 5 years) 📍 Designated 'Specific Tourism Complexes' for Investment Immigration Purchasing any real estate across Jeju does not automatically grant permanent residency. It is strictly limited to leisure facilities (condos, hotels, etc.) within designated tourism complexes and attractions approved by the governor. Key target areas include: Jeju Shinhwa History Park Seogwang-ri, Andeok-myeon area (large-scale integrated resorts like Jeju Shinhwa World) Jeju Healthcare Town Donghong-dong and Topyeong-dong, Seogwipo City (facilities linking healthcare and leisure) Myosanbong Tourism Complex Kimnyeong-ri, Gujwa-eup area (golf courses and leisure condominiums) Seongsanpo Marine Tourism Complex Goseong-ri, Seongsan-eup area (large resort facilities near Seopjikoji) Baektongsinwon Jeju Resort Wimi-ri, Namwon-eup area (leisure pensions and condo facilities) Other Designated Tourist Sites Wooridle Leisure Resort, parts of Saekdal-dong, and other areas designated by the Ministry of Justice * General residential apartments, commercial buildings, and non-designated lands are strictly excluded from the investment immigration program. Investment Trends: Data Overview Foreign Investor Nationality Proportion (2019~2023) There has been a continuous overwhelming concentration of capital from Chinese-speaking regions. Cumulative Attraction Performance (2010~2022) 1.26 trillion won A total of 1,909 real estate investments have been made, contributing to the initial expansion of Jeju's tourism infrastructure. Recent 3-Year Attraction Performance 695 billion won A total of 78 cases occurred. The scale of investment has stabilized/reduced compared to the past due to the COVID-19 pandemic and tightened regulations. Investment Immigration Program Extension: Pros and Cons (Impact Analysis) 📈 Positive Effects (Opportunities) ✓ Expansion of Tourism Infrastructure Continuous development of stay-type tourism infrastructure such as luxury hotels and resorts through large-scale capital inflow. ✓ Boosting Local Construction Industry Direct increase in construction demand due to facility building and activation of related materials market. ✓ Increase in Local Tax Revenue Contributes to local government finances through acquisition tax, property tax, etc., incurred during real estate acquisition and facility operation. ⚠️ Potential Risks (Concerns) ✓ Concerns Over Real Estate Market Overheating The concentration of foreign capital may stimulate overall land price increases and rent surges in Jeju. ✓ Intensification of Nationality Bias There is a high risk if external variables occur. ✓ Future Tasks for Successful Program Establishment Jeju needs to focus not only on extending the period but also on establishing safeguards to control the program's side effects. A rigorous verification of the source of investment funds and a strong due diligence system to restrict asset disposal after acquiring permanent residency are required. Additionally, it is time to shift the paradigm to a 'value-creating' immigration program that goes beyond mere real estate investment to directly employ local residents or invest in local startups and R&D sectors.