Posted May. 20, 2005 23:32,
Jeju Island will be transformed into a free international city, which is similar to Hong Kong or Singapore.
On May 20, the Presidential Committee on Government Innovation and Decentralization (Chairman: Yoon Seong-sik) confirmed an outline of the Special Autonomous Province of Jeju Island based on the creation of Jeju Island as a free international city with a high level of autonomy throughout all self-government sectors, including legislation, financial affairs, taxation, and immigration management.
The Committee reported the bill to the relevant departments ministerial meeting held under the presidency by Prime Minister Lee Hae-chan, on that day.
The government will soon establish a tentatively named promotion group for the Special Autonomous Province of Jeju Island under the Office of the Prime Minister and arrange a specific promotion plan through discussion with relevant departments.
Then, the government plans to enforce the bill as early as July of next year when the system of the fourth civil governor begins, after enacting a special law this year.
According to an outline, all regulations over Jeju Island will be eased into negative system, with all systems such as legislation, customs, and culture, set to international standards.
In the long term, Jeju Island will change to a free international city with systems such as No Visa, Duty Free, Zero Regulation, and With English.
In order to make Jeju Island a free international city, the autonomous legislative power will first be reinforced as an ordinance to allow the relaxing or abolishment of various kinds of regulations and laws.
In addition, Jeju Island will be authorized to use all tax revenues whether it is local or national. The administrative agencys employment of foreign people will also be freed.
The committee also decided to positively examine the transfer of major local administrative agencies, including the Jeju Construction Ministry Office (JCMO), while preferentially introducing an educational autonomy system and an autonomous police system on the island.