At present, one of two LCC-HVDC systems is responsible for controlling the grid frequency of the Jeju Island Power System (JIPS). The grid voltage is regulated by using STATCOMs. However, these two objectives can be achieved in one device that is called by a modular multilevel converter-high voltage direct current (MMC-HVDC) system. Therefore, this paper proposes frequency and voltage control strategies for the JIPS based on a MMC-HVDC system. In this case, the ancillary frequency and voltage controllers are implemented into the MMC-HVDC system. The modelling of the JIPS is done based on the parameters and measured data from the real JIPS. The simulation results obtained from the PSCAD/EMTDC simulation program are confirmed by comparing them to measured data from the real JIPS. Then, the effect of the MMC-HVDC system on the JIPS will be tested in many cases of operation when the JIPS operates with and without STATCOMs. The objective is to demonstrate the effectiveness of the proposed control strategy.