Jeju Special Self-Governing Province and the Ministry of Justice have officially announced that the operating period of the Tourism & Recreation Facility Investment Immigration Program, which had been scheduled to end in late April 2026, will be extended through December 31, 2027. Core standards such as the existing investment threshold of KRW 1 billion and the scope of eligible facilities will remain unchanged. The extension is widely interpreted as a move to improve the predictability of foreign investment and inject fresh momentum into the expansion of weakened tourism infrastructure.
📋 Key Program Guide
Investment Requirements
- Minimum investment: KRW 1 billion or more (raised in 2023)
- Eligibility: Foreign investors of any nationality
- Obligation: Maintain the investment for at least 5 years and submit regular reports
Visa Acquisition Process
(KRW 1 billion+)
(F-2 issued)
(F-5 after 5 years)
📍 Designated Tourism Complexes Eligible for the Program
Permanent residency is not granted simply by purchasing any real estate anywhere in Jeju. The program is strictly limited to recreation facilities such as condominiums and hotels located within designated tourism complexes and tourist sites approved by the provincial governor. Key eligible areas include the following.
Jeju Shinhwa History Park
Seogwang-ri, Andeok-myeon (large-scale integrated resorts including Jeju Shinhwa World)
Jeju Healthcare Town
Donghong-dong and Topyeong-dong, Seogwipo City (medical and recreation-linked facilities)
Myosanbong Tourism Complex
Gimnyeong-ri, Gujwa-eup (golf course and resort condominiums)
Seongsanpo Marine Tourism Complex
Goseong-ri, Seongsan-eup (large resort facilities near Seopjikoji)
Baitong Shinyuan Jeju Resort
Wimi-ri, Namwon-eup (vacation pensions and condominium facilities)
Other Designated Tourist Sites
Areas announced by the Ministry of Justice, including Wooridul Recreation Resort and parts of Saekdal-dong tourist zones
* Ordinary residential apartments, commercial units, and undesignated land are strictly excluded from the program.
Investment Flow: The Current Picture Through Data
Nationality Composition of Foreign Investors (2019–2023)
The overwhelming concentration of Greater China capital has continued from the past into the present.
Cumulative Attraction Performance (2010–2022)
A total of 1,909 real estate investment cases were concluded, contributing to the early expansion of Jeju’s tourism infrastructure.
Investment Performance in the Last 3 Years
A total of 78 cases occurred. Due to the COVID-19 pandemic and tighter regulations, the scale of investment has stabilized or shrunk compared with the past.
Extension of the Investment Immigration Program: Pros and Cons (Impact Analysis)
📈 Positive Effects (Opportunity Factors)
-
✓
Expansion of Tourism Infrastructure The inflow of large-scale capital continues to drive the development of stay-oriented tourism infrastructure such as high-end hotels and resorts.
-
✓
Boost to the Local Construction Economy Construction demand tied to new facilities increases directly, while related materials markets are also stimulated.
-
✓
Increase in Local Tax Revenue Acquisition taxes, property taxes, and other levies generated through property purchases and facility operations contribute to local government finances.
⚠️ Potential Risks (Areas of Concern)
-
✓
Concerns About an Overheated Real Estate Market The concentration of overseas capital may fuel broader increases in land prices and rent across Jeju.
-
✓
Deepening Dependence on a Specific Nationality More than 90% of investors are concentrated in China, creating significant vulnerability to external shocks.
-
✓
"Cash-Out" Controversy and Environmental Damage Local residents remain concerned about cases in which assets are sold soon after permanent residency is obtained, as well as reckless development that harms the environment.
Key Tasks for Successful Institutional Settlement
Jeju should not stop at a simple extension of the program period, but instead focus on putting in place safeguards capable of controlling side effects. A robust due diligence system is needed to strictly verify the source of investment funds and limit asset disposal after permanent residency is obtained. In the longer term, the paradigm should shift beyond simple real estate investment toward a value-creation immigration model that directly hires local residents or invests in local startups and R&D sectors.