What if Jeju Island is sold to foreigners?

By Semoon Chang

I have visited Jeju Island twice. The first time was when I graduated high school. It was a trip with no money. One of my friends and I went all the way to the top of Mount Halla, saw the giant crater, and went to the other side of the island to Seogwipo. That was a long time ago. The second time was about five years ago in a group tour.

As you know, Jeju Island is a volcanic island located about 85 kilometers from the tip of the Korean Peninsula. Mount Halla is actually a dormant volcano. It is 1,950 meters, or 6,398 feet, above sea level. The height is very similar to that of the popular Smokey Mountains in the United States. Mount Halla is believed to be a very young mountain of about 25,000 years, and it had its eruption about 800 years ago. Jeju Island has also been known as Samdado with “sam” meaning three; “da” meaning abundance, and “do” meaning an island in Korean, or Chinese if you are picky. Anyway, the three abundances are wind, rocks and beautiful women.

But beautiful Jeju Island is in trouble. If not now, then it will in the future. This is because a new program went into effect in 2010 that allowed foreigners to buy property and gain F2 residency status if they invested a minimum of $500,000 in a resort facility or condo. F2 can be converted to F5, which is a permanent residency. So far in 2015, approximately $400 million has been invested by more than 1,000 foreigners most of whom are reported to be Chinese. On the surface, it is beneficial to residents of Jeju Island because the purchases generate income for residents involved in the transactions, and boost economic activities with subsequent spill-over effects to the rest of the community.

What is the long-term impact of such purchases by foreigners? Well, the impact is likely to vary with decisions that leaders in Seoul and Jeju make.

I found through my own volunteer work with social services that foreign residents tend to care less about social services for the poor. In simpler terms, I found it difficult to successfully raise funds for social services. This is the experience I had where I live. New foreigners on Jeju Island, hopefully, are different.

The other impact depends on whether these foreign residents are eventually allowed to become Korean citizens. What happens if these foreigners marry Koreans? Are foreigners then qualified to become Korean citizens as the current law appears to indicate? What happens to children of these foreigners who are born on Jeju Island? Will the children automatically become Korean citizens as it is practiced in the United States? If not, will these children have an opportunity to become Korean citizens especially when they grow up and go to school on Jeju Island?

The best solution would be for them to eventually become Korean citizens just like all other Korean residents of the island. If not, excessive purchases of highly valued properties by foreigners on the island will likely lead to some social problems in the future. The important word here is “excessive.” Properties worth several billion dollars are no big deal in Seoul where one skyscraper may cost that much. Properties worth several billion dollars in a confined area such as Jeju Island can be a big deal because tax revenues alone from these properties may determine the quality of life of the area’s residents.

All I am suggesting is that leaders on Jeju Island as well as in Seoul may want to think over all likely consequences of continuing purchases of properties by foreigners on Jeju Island before it becomes too late to control.

My suggestion in this article is based on my respect for the fiercely independent spirit that Jeju Island residents have demonstrated for many years in its proud history. The April 3, 1948, uprising with many casualties, which is still debated by some, is memorialized at the 4.3 Museum in the Peace Park located on the outskirts of Jeju City.

The independent spirit of Jeju islanders is aptly described by John Feffer in his April 20, 2012, article in the Washington Post: “The most famous example involves the 13th-century Goryeo Kingdom on the mainland, which, after initially combating the invading Mongols, ultimately switched sides and in essence collaborated with the enemy. The Jeju islanders, by contrast, continued to resist the combined Mongol-Goryeo forces, just as they were later to put up a sustained fight against the Japanese, who occupied Korea during the first half of the 20th century.” I love all of you who live on Jeju Island.

Semoon Chang is the director of the Gulf Coast Center for Impact Studies.