Jeju Province bids for 60 billion KRW government startup city designation

Jeju Province has launched a strategic initiative to become a designated ‘startup city’ by applying for a government project led by the Ministry of SMEs and Startups. If successful, the province will receive 60 billion KRW in national funds over four years to foster a robust entrepreneurship ecosystem.

During a recent town hall meeting involving local entrepreneurs, investors, and startup support agencies, officials outlined a strategy to transform the island into a hub for deep tech. The plan focuses on integrating Jeju’s growth industries—such as energy, space, mobility, and bio-technology—with startup development. The province aims to support businesses through various stages, including initial commercialization, growth through investment and talent acquisition, and expansion into global markets.

To promote the ‘Startup City Jeju’ brand, the province has also appointed entertainer Tak Jae-hoon as a promotional ambassador to assist with marketing and brand awareness.