<aside> 📚 Jeju (Jeju Special Self-Governing Province 제주도) is the biggest island in the Republic of Korea, located on the South West region of the peninsula. Its biodiversity has always been a source of abundant agricultural production. Because of its semi-isolated location, it traditionally omitted from the second industrial revolution primarily focused on the manufacturing industry. However, with Jeju Semiconductors’ move to the island, that stance has been disrupted with semiconductors becoming the main export product for the province. There are other rising industries to keep an eye on, such as the aerospace, ICT, and mobility industry.

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In the service sector, not surprisingly, tourism is the focal point. Despite the initial drawback in 2020 due to COVID, it has been seeing a comeback with increased domestic travel. The sector has also seen its own share of innovation, with local creators using all sorts of alternative and digital solutions to better introduce the local culture and traditions to the outside world.

Jeju is the only self-governing province in South Korea, meaning that the province is run by local inhabitants instead of politicians from the mainland.

<aside> 💡 Area: 1,833.2 km²

Population: about 670,000

Leading and upcoming Industries: Agriculture (potatoes, bean, barley, sweet potatoes, white radish, cabbage, carrot), Manufacturing (semiconductors), Tourism, Aerospace, 4th industry revolution sectors (ICT, IoT)

Main exports: Semiconductors (~55%), flounder (a type of fish) (~10%), Cabbage (~7%).

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Sources:

‘Jeju Province Economic Trends 2020’ by Jeju Tax Office

‘Jeju Economic Trends 2021 Q1’ by Jeju Special-Governing Province, Jeju Research Institute