Ulsan Facilities Corporation, Ulsan Urban Corporation, Ulsan Economic Promotion Agency, etc.
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] The term ‘subsidiary organization’ will disappear in Ulsan City. Instead, they will be called ‘public institutions.’ All investment and foundation institutions established by the city, such as public corporations and public enterprises, will be collectively referred to as ‘Ulsan City Public Institutions.’
Thirteen institutions, including two public corporations and eleven foundation institutions, are now public institutions rather than subsidiary organizations.
The designation will change for institutions including public corporations like Ulsan Facilities Corporation and Ulsan Urban Corporation, as well as Ulsan Economic Promotion Agency, Ulsan Credit Guarantee Foundation, Ulsan Research Institute, and Ulsan Technopark.
Ulsan Women and Family Development Institute, Ulsan Information Industry Promotion Agency, Ulsan Cultural Foundation, Ulsan Talent Lifelong Education Promotion Agency, Ulsan Job Foundation, Ulsan Tourism Foundation, and Ulsan Social Service Institute will also be referred to as public institutions.
These institutions are separate entities but were called ‘subsidiary organizations’ to signify that they receive financial support, guidance, and supervision from the city and handle related tasks.
Although ‘subsidiary organization’ is not a legal term, the city stated that it is a conventionally used term that implies a somewhat authoritative and vertical relationship.
Ulsan City plans to officially use ‘public institutions’ for public corporations and investment/foundation institutions in internal and external events, meetings, official documents, and reflect this change on their websites.
The city explained that the change in terminology aims to respect the establishment purpose, independence, and autonomy of public institutions while efficiently promoting projects in areas such as citizen welfare and the local economy by utilizing the autonomy and expertise of the private sector.
A city official said, “We are the first in the nation to decide not to use the term ‘subsidiary organization’,” adding, “We will cooperate as partners with public institutions to achieve regional development.”
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