Governor Won held a meeting regarding public funds, 'building a cooperation beforehand'.

Heeryong Won, the governor of Jeju Special Self-Governing Province held a meeting related to securing public funds for 2015 on 22 last month and asked executive officers to do their best to secure public funds. Won said that if the stereotyped action officer and secretary start to regard our case as ‘poor', and they do not give the funds to us, it will be useless to try to convince them again. Won said "tangerines might be a good item for us. Try to systematize production and distribution as an alternative for FTA. It is not advisable to do it at the last minute. If we build up a cooperative relationship by inviting related government departments and research institutes on a regular basis to show them the sites and to let them know about the internal information beforehand, we might get some help at a crucial moment. Won emphasized that "regarding the budget related business trip or visiting the government departments, try to think that the things you proceed this year can be harvested next year. It is helpful if you do the budget related business when the department is not very busy rather than do it at the last minute when they are in full swing." Won added "it is a well known theory that the central government does not much care about Jeju and it dose not give any impact on the government. It's a shame in a way. We need our self-help efforts to promote new projects. We have to change our habit to depend on the central government to get the budget we need." Won asked "regarding firefighting helicopters and waste handling facilities, we received a definite answer that they will reflect it in the budget as soon as they get the result, and regarding Youngam Haesoo Complex, we have to carry out the negotiation carefully to be reflected."

Setting up a stable export base for export small & medium companies in Jeju.

Jeju Special Self-Governing Province signed an agreement with Korea Trade Insurance Corporation on 25 August to support guarantee & insurance premium for small & medium companies. The main contents of the agreement are as follows; firstly, the group insurance compensation limit for small & medium companies will be expanded. So far, if a domestic export company could not receive the export price or was damaged due to trade claim, they received a compensation lump sum of up to $50,000. They can get up to $100,000 in the future. Secondly, the export risk of small & medium companies, caused by exchange fluctuations, will be solved. So far, if export small & medium companies were damaged by foreign-exchange loss, they were compensated within the boundary of the loss, and they also had to pay back the foreign-exchange profit to the insurer. In the future, however, they do not need to pay back the profit to the insurer, and exchange risk consulting will be reinforced. In addition, promising companies, designated by Small & Medium Business Support Center, will get 20% discounted insurance premium. Thanks to the agreement with Korea Trade Insurance Corporation, the exchange risks have been solved, and export small & medium companies in Jeju can have expanded compensation. As a result, they can now carry out more stable export activities. Therefore, petty export small & medium companies are expected to enter overseas market to contribute to the export enlargement as their export environment has been greatly improved. Meanwhile, Jeju Special Self-Governing Province has been supporting various export insurance premium such as export credit insurance, short term export insurance, agricultural and marine products export insurance, and exchange fluctuations insurance for the export companies in order to create a stable export base. Sungho Lee, the head of Commerce Policy Department of Jeju Special Self-Governing Province, said "the agreement opened a way for small & medium companies to carry out stable export activities. We will do our best to give financial and administrative support for them."