Jeju Creative Economy Innovation Center (CEO Lee Byeong-seon, hereinafter referred to as Jeju Center) announced on the 10th that it has completed seed money investment in childcare company Jeju Salt Co., Ltd. (CEO Ko Gyeong-min).
Jeju Salt is a startup that produces premium solid salt using high-salt effluent (approximately 6%) from Jeju's lava seawater. Unlike standard refined salt, it targets the high-value-added salt market, focusing on products with salinity levels of 25% or less.
The lava seawater used in Jeju salt is stored in volcanic bedrock, making it highly safe from external contaminants like microplastics and heavy metals. Furthermore, its high mineral content, including magnesium, potassium, and silicon, makes it ideal for producing premium salt with distinct functionality and distinctive qualities.
Currently, Jeju Salt is located in the Jeju Lava Seawater Industrial Complex, developing prototypes and constructing production facilities. It is also laying the foundation for its business through the Jeju Center's marine and fisheries specialized accelerator and local creator support programs.
CEO Ko Kyung-min is a marine and fisheries expert who has been conducting marine biology research for over 40 years. Building on his extensive experience in the field, he launched his own business this year.
This investment was part of the Jeju Center's direct investment program, bringing its cumulative investment total to 49 companies and KRW 5.76 billion. Since 2018, the Jeju Center has supported the growth of early-stage startups by leveraging grants from the Jeju Special Self-Governing Province, private and venture capital funds, and mother funds.
Meanwhile, companies that have received seed money investment from the Jeju Center can apply for follow-up government support programs such as the Ministry of SMEs and Startups' private investment-led technology start-up support program (TIPS), Pre-TIPS, and regional specialized LIPS.
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