Installation of 30-40m Tall Busts of Entrepreneurs Planned
"Is It Right to Spend Such a Huge Budget?" Criticism Continues
Ulsan City announced that it plans to carry out a project to install busts of businesspeople related to Ulsan. However, as it became known that an excessive budget of 25 billion KRW would be投入, controversy over the appropriateness of the project has arisen.
Conceptual diagram of the entrepreneur sculpture construction project promoted by Ulsan City [Photo by Ulsan City]
On the 30th, Ulsan City announced that it plans to promote the "Great Businesspeople Who Illuminated Ulsan Sculpture Installation Project," which involves installing large busts of businesspeople.
Ulsan City estimated that a total project cost of 25 billion KRW would be required, including 5 billion KRW for land acquisition and 20 billion KRW for the design, production, and installation of the busts.
The subjects for the busts include the late Chung Ju-yung, founder of Hyundai Group, and the late Chey Jong-hyun, chairman of SK Group. The late Shin Kyuk-ho of Lotte Group and the late Lee Byung-chul of Samsung are also reportedly under consideration.
The site for the project, Ulsan National Institute of Science and Technology (UNIST), is located in a place visible from National Road No. 24 and the Ulsan Expressway. If a gigantic bust measuring 30 to 40 meters is produced at this location, it is expected to be visible from anywhere in the area. The city expects this sculpture to become a "gateway landmark" that visitors to Ulsan and Ulsan citizens will stop by to see at least once.
However, criticism has been raised regarding the installation of busts with a project cost of 25 billion KRW. Kim Ji-hoon, Secretary General of the Ulsan Citizens' Coalition, said in an interview with KBS on the 31st, "It is questionable whether installing busts of chaebols whose social evaluations are mixed, on such a large scale and with a huge budget in public places, aligns with the values of general administration and the common sense of citizens."
The Ulsan branch of the Democratic Party of Korea also pointed out in a press conference, "At a time when public utility fees are soaring and prices are rapidly increasing, citizens are doubting their eyes and ears upon hearing about such a project," and questioned, "Is the bust installation, which accounts for 88% of the entire supplementary budget, an urgent project?"
In response, Mayor Kim Doo-gyeom defended the bust installation project at a press briefing on the 31st, saying it would have the effect of inducing companies to reinvest in Ulsan. He stated that the project is "to actively promote Ulsan, an industrial city that has led the Korean economy, to the outside world and to honor the achievements of entrepreneurs," and added, "Although a considerable amount of project cost is投入, considering that it can prevent capital outflow and attract reinvestment, it can yield several times the effect compared to the investment."
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