Phase 2 Investment of 208.8 Billion KRW, Completion in 2026
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The Ulsan High-Tech Valley general industrial complex development project has completed its first phase.
The Ulsan Free Economic Zone Authority (Director Cho Young-shin) announced on the 9th that the first phase of the High-Tech Valley general industrial complex, created to attract advanced industries such as hydrogen fuel cells and electric vehicles, has been 100% sold.
The first phase project is a development of industrial land covering 139,681㎡ on a 232,000㎡ site in Samnam-eup, Ulju-gun, Ulsan, with a total investment of 49 billion KRW.
Following an investment agreement between Ulsan City and Samsung SDI in 2006, the area was designated as a general industrial complex in May 2007. After announcing the sale in June 2015, construction began in 2016 and was completed in 2018.
The first phase project area boasts excellent location advantages with a well-connected transportation network including the Gyeongbu Expressway, Hamyang-Ulsan Expressway, and National Road No. 35, as well as an established industry-academia cooperation and support system linked with Ulsan National Institute of Science and Technology (UNIST), University of Ulsan, and Ulsan Technopark.
However, due to COVID-19 and other factors, 15,521㎡ of the area remained unsold for a long time, but this has now been resolved with the signing of a sales contract by Ottronic Co., Ltd., an automotive electronic parts company.
Ottronic Co., Ltd., which signed the sales contract this time, concluded a memorandum of understanding with Ulsan City on December 28 last year to establish a manufacturing plant for automotive electronic parts, and finalized the sales contract to begin construction.
An official from the Ulsan Free Economic Zone Authority stated, “With 100% of the sales completed, we are encouraging companies that have not yet moved in to promptly start construction of factories and other facilities.”
Ulsan City plans to proceed with the second phase project to create a hydrogen and eco-friendly energy industry cluster in cooperation with small and medium-sized enterprises located in the High-Tech Valley, Samsung SDI, and UNIST.
The second phase project will involve a total investment of 208.8 billion KRW and is planned to be completed by 2026 on a 672,000㎡ site.
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