Story:
Huge billboards stating, "We love having you here" greet you every few miles, so it's impossible not to feel welcomed on the island of Jeju.
A special autonomous region of South Korea, Jeju is well known among Koreans and is considered one of the country's top vacation and honeymoon destinations. Now the tourist gurus on the island want the rest of the world to know about it.
Jeju already has recognition from UNESCO. Nine sites on the island were designated geological attractions or "geoparks" last month. Three years ago, UNESCO named three heritage sites here.
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From 2.2 million visitors in 2006, Sunrise Peak is expected to attract 3.8 million this year. Jeju's provincial government says the number of foreign tourists has jumped 108 percent in just four years.
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Jeju is becoming increasingly popular with Chinese tourists and now authorities are going one step further and encouraging direct Chinese investment.
Luxury housing projects are springing up all over the island. Malaysian developers Berjaya are building a $3.6 billion resort complete with a hotel, shopping center and casino.
Berjaya project director Tang Vui Woon says, "At the moment we can see an influx of tourists from China and Japan. So we are definitely targeting the Chinese market."
A new neighborhood and golf course that is being built nearby has already struck a successful note with Chinese investors. Of the 220 holiday homes already sold, half of them are now Chinese owned.
A few government sweeteners certainly help. Any foreigner who buys a condominium costing over $500,000 is automatically given a long-stay visa. After five years, you can claim permanent residency.
An hour and a half flight from Shanghai, two and a half hours from Japan, Jeju's government is in the middle of an aggressive advertising campaign, promoting Jeju as the island of choice for business or pleasure.That is a sweet deal. If I were a rich Chinese business man, I'd buy a piece of Jeju as well and obtain permanent residency.
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