Background

• Increasing Demand for Aggregate
  • The demand for aggregate is on the rise due to the dramatically increasing island population, construction and infrastructure.
• Unstable Aggregate Prices
  • The current lack of required materials is made up for by materials brought in from outside.
  • The rise in distribution and logistics costs has led to increasing price volatility.
• Environmental Issues
  • There are environmental concerns following the excavation of aggregate materials.

Concept

• To build a public development system suited to the needs of Jeju and ensure the public nature of aggregate development
• To establish strategies that enable long-term supply and systematic management of demand for aggregate on Jeju
• To build strategies that can minimize the environmental degradation that has recently become a growing social concern
• To come up with plans that minimize damage to the private sector and benefit all parties involved

Progress

• December 2015: Incorporated input from residents and held a community policy debate to discuss the supply of aggregate materials
• December 2016: Conducted a survey on aggregate materials on Jeju (Ministry of Land, Infrastructure and Transport)
• March 2018: Established strategic plans to pursue public development of aggregate materials (JPDC)
• Current (2018): Feasibility study underway (by the Evaluation Institute of Regional Public Corporations) to review new investment pursuant to Article 65.3 of the Act on the Management of Public Institutions