Economy
The Jeju economy has traditionally been supported by primary industry, agriculture and fishing, but tourism has taken a more and more important role as the island receives upwards of six million visitors per year. These are mostly Korean mainlanders but through the opening of the 2010 decade hundreds of thousands of Chinese tourists have been arriving and the number is increasing.
In 2006, the GDP of the province was projected at 8.5 trillion won (about US$8.5 billion), approximately 15 million won per capita. The provincial government's budget for 2006 was projected at 1.1 trillion won, an increase of 10% over 2005.
Jeju is also a home for key functions of Daum Communications, a leading Korean internet site, and sole owner of Lycos.
Jeju is also famous for hosting many conferences and international meetings, including the World Scout Conference in July 2008. Jeju has its own international convention center called ICC Jeju. The ASEAN-KOREA Commemorative Summit 2009 was held at ICC Jeju.
Read more about this topic: Jeju Province
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)