Creation of 287,000 Jobs by 2026 in Energy and New Industries
Ulsan City Hall.
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan Mayor Kim Doo-gyeom presented a job blueprint for the 8th term of the elected government.
Mayor Kim announced on the 2nd the future plans for the job sector in the 8th term of the elected government, which will officially begin this year, along with an organizational restructuring reflecting his administrative philosophy.
The plan is to prepare for a challenging employment creation environment, as economic growth is expected to decline from 2.5% this year to 1.6% next year due to recent unstable international situations and the triple high phenomenon (high inflation, high interest rates, and high exchange rates).
Based on Ulsan’s strength as the industrial capital of South Korea, the city aims to raise the employment rate from 63.5% in the third quarter of this year to 68% by 2026 and create jobs to achieve 530,000 employed persons, thereby responding to the risk of regional extinction.
In particular, during the 8th term, administrative efforts will focus on job creation and active investment attraction activities to create a total of approximately 287,000 direct and indirect jobs: about 65,000 in 2023, 69,000 in 2024, 75,000 in 2025, and 77,000 in 2026.
The core strategies to achieve this include ▲ proactive response to economic and industrial paradigm shifts such as carbon neutrality ▲ securing employment creation drivers such as revitalizing private investment ▲ supporting vulnerable employment groups including youth, middle-aged, and women ▲ creating jobs linked to public services and improving residential infrastructure.
Ulsan, ranked 4th nationwide in industrial energy consumption as of 2021, plans to lead the transition to a clean energy hydrogen-based energy system to secure future competitiveness in the carbon-neutral era, ensuring employment stability in existing key industries and creating new jobs in hydrogen industries.
In key and new industries, proactive responses will be made to paradigm shifts such as the transition from internal combustion engine vehicles to hydrogen and electric vehicles in the automobile industry and the increased demand for LNG-powered ships in the shipbuilding industry.
Through this, Ulsan aims to strengthen its global competitiveness and secure future-oriented jobs by fostering new industries such as bio, artificial intelligence, and digital content.
To replace the limitations of temporary and experiential public jobs with sustainable quality jobs, private investment revitalization will be promoted.
With approximately 13 trillion KRW in investment attraction expected by the end of this year, about 78,000 jobs are projected to be created by 2026. Going forward, regulatory improvements such as lifting development restrictions and support will promote regional investments by leading companies to expand better jobs.
By developing resources such as tourism and culture and expanding infrastructure, a foundation will be laid for the service industry to take root, and systematic support will be provided for entrepreneurs to grow from startups into companies that create employment. Additionally, support for the management stability and growth of small and medium enterprises and small business owners will enhance the drivers of job creation.
Step-by-step tailored support, such as employment competency enhancement packages for youth, will encourage employment and regional settlement, while training programs and job placement support will assist middle-aged individuals facing difficulties due to job loss or retirement.
Support for skill training necessary for employment will be provided to women with career interruptions, promoting job creation suitable for all ages and genders. Jobs necessary for economic independence will also be provided for vulnerable groups such as the disabled and the elderly.
Job creation linked to public service sectors such as welfare and health, which cannot be provided by the private sector, will improve citizens’ welfare, and projects to expand essential social overhead capital for corporate activities and convenience, such as logistics and transportation, will simultaneously improve employment and residential conditions.
An official from Ulsan City stated, “Regarding the announcement of this comprehensive job plan, we will concentrate all administrative efforts to achieve the job targets,” adding, “Through active investment attraction, we will create an ‘industrial city overflowing with jobs’ and realize the administrative goal of ‘Great Ulsan, Newly Made.’”
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