Cheju, Island of No VISA, No Customs

The Policy Planning team for Cheju International Gateway City of the New Millennium Democratic Party completed its planning recently including the plan for the designation of the whole Cheju Island as a No VISA area and to assign a part of Cheju as a Duty Free area.

The team will deliver the plans to the executive committees of the related government offices after receiving the approval of the party`s authorities.

Chairperson of the Team Lee Hae-Chan said yesterday, ``the party will deliver the plan to the government by the end of August but it`s too early to anticipate the final decision of the party. Furthermore, the government will make the most final decision.``To implement the plan from January next year as scheduled, the government must complete its review on the new policy and also the related laws such as the taxation law have to be amended at the regular session of the National Assembly in September.

The plan also suggests the establishment of the tentatively called `Cheju Development Corporation,` Duty Free stores for the domestics in the Jungmun Tour Complex, and the IT industry complex.

However, the planning team has failed to reach an agreement on such controversial issues as English as the second official language, Casinos for the native Koreans, and the establishment of an offshore financial center.

Yoon Jong-Koo jkmas@donga.com