Jeju Ilbo
1. Local
Tourism ranked ‘most desireable’ industry for Jeju’s future

The Jeju Ilbo surveyed some 208 experts in the fields of politics, administration, economics and social education regarding Jeju’s future.
According to the results, Jeju should concentrate on being a center of tourism and a resort city for Northeast Asia. Respondents ranked the tourism industry as the top growth engine for Jeju. Expanding airport and harbor infrastructure was selected as the most urgent projects for Jeju’s future.

2. Education
JGEC profits OK’d for repatriation

Seoul has permitted the transfer of the earnings of the international schools in the Jeju Global Education City from school to corporate accounting, as well as allowing offering dividends to investors.
Regarding concerns about excessive profit-taking, the revised law stipulates limits on the amount of money that can be transferred and requires approval from the Jeju Superintendent of Education.

Jemin Ilbo
1. Business
Investment Promotion Zone under scrutiny

The provincial government has said it will step up oversight of the Jeju Investment Promotion Zone in order to resolve the controversy over land speculation and meager job creation. In April, local officials said if businesses couldn’t meet the agreed upon standards, the government would cancel the designation. However, under the provincial ordinance the options for this are fairly limited.

2. Tourism
10 m visitor mark met, on track for 13 m by year’s end

Jeju is set to exceed 10 million tourists for a third year in a row. Thanks to the increasing number of Chinese tourists, it’s expected that by year’s end some 13 million people will have visited the island. Compared to last year when Jeju hit the 10 million mark on Oct. 21st, this year’s record comes 20 days earlier, making it the shortest on record.


Yonhap
1. Inter-Korea
President urges NK to halt missile, nuke programs
Yonhap reports that amid continuing tensions on the peninsula, President Park Geun-hye has urged North Korea to immediately cease its missile and nuclear weapons programs. If not, she warned that the North’s isolation and economic troubles will deepen.

2. Economy
Korean exports fall 8.3% in September
For the ninth straight month, South Korean exports have fallen while its trade surplus hit the second-highest level in the nation’s history. Exports totalled 43.5 billion US dollars last month, according the the Ministry of Trade, Industry and Energy.