The Jeju Free International City Development Center (JDC) is promoting the attraction of new international schools within the Jeju English Education City, located in Daejeong-eup, Seogwipo-si, Jeju Island, which is having a significant positive impact on the nearby real estate market.
On May 17, JDC announced that it had signed two Memorandums of Understanding (MOUs) to attract new international schools within the English Education City, revealing through the media that the prospective schools are one American and one British institution.
Currently, within Jeju English Education City, JDC’s subsidiary, Jane’s Co., Ltd., operates three schools: North London Collegiate School Jeju (UK), Branksome Hall Asia (Canada), and St. Johnsbury Academy Jeju (USA). Additionally, the Korea International School (KIS) Jeju Campus, a private Korean international school, is also operating there.
Therefore, once the two new international schools under development open, a total of six global international schools will be gathered in one location, expected to form the largest international English school complex in South Korea.
The addition of these international schools is influencing the local real estate market because families enrolling their children will relocate to the area, significantly increasing demand for surrounding living infrastructure.
Coinciding with this announcement, ‘Jeju I-Park SuiteR,’ a high-end complex developed within Jeju English Education City, has opened a promotional center in Gangnam-gu, Seoul, and is attracting attention as it begins supply targeting buyers in Seoul and the metropolitan area.
Jeju I-Park SuiteR, completed in Seogwipo-si within Jeju English Education City, is a residential lodging facility complex consisting of 84 units, ranging from the 1st to the 4th floor, with exclusive areas of 175㎡ (approximately 53 pyeong).
The biggest advantage of Jeju I-Park SuiteR is its location in a non-regulated area relatively free from various real estate regulatory policies. Non-regulated areas during sales are free from loan restrictions and regulatory constraints, and there is no obligation to submit a financing plan, making it an attractive alternative investment to apartments for investors.
Another advantage is the abundant long-term rental demand due to the surrounding environment of the English Education City. In this area, it is common for children enrolling in international schools and their parents to relocate together, often prepaying annual rent of approximately 30 to 50 million KRW. In such cases, Jeju I-Park SuiteR, with the largest exclusive area of 53 pyeong and being newly built, is expected to command the highest rental prices in the region.
Jeju I-Park SuiteR also applies a specialized design for premium housing types typical of Seoul’s Gangnam area. Every unit features an open balcony and three bathrooms, and to ensure a comfortable and safe complex, all parking is located underground?a rarity in the English Education City. The parking ratio is also generous, with 1.48 spaces per unit.
In particular, each type includes alpha spaces such as attics and underground storage rooms, uses premium apartment-level finishing materials, and comes with built-in appliances like air conditioners and various kitchen furniture as complimentary options.
Additionally, the complex will operate hotel-grade female-only saunas and powder rooms, a family cinema, and a fitness center to maximize resident convenience.
Meanwhile, the Jeju I-Park SuiteR promotional center in Seoul is located near Gangnam-gu and operates by appointment only to prevent the spread of COVID-19. To ensure visitors’ safety, the center is regularly disinfected several times a day and is equipped with mist disinfectors, thermometers, and hand sanitizers, thoroughly implementing COVID-19 prevention measures.
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