In 2002, the Korean government designated Jeju as a free international city that pursued the free movement of ‘people, goods, and capital.’ To expand its development funds, Jeju established a public corporation named Jeju Free International City Development Center (JDC) and granted a license to establish a local duty-free store. JDC Duty-Free has been playing a successful role in fund-raising for free international city projects by attracting over 200 most popular brands in the world and generating 500 billion won in annual sales.
JDC now plans to take its role to the next level, beyond trading goods between countries to making its brand global, and invited experts from related fields for their opinions on the matter.