Establishment of Accommodation, Medical, and Golf Stay-Type Resorts... Ulsan Marine Tourism Complex MOU

Ulsan City, Buk-gu and 8 Other Organizations and Corporations Sign Agreement

A project to create a stay-type marine tourism complex including recreation, accommodation, and a golf course is set to launch in Buk-gu, Ulsan.

Ulsan City announced that on the 29th at 3 PM, a business agreement for the 'Ulsan Marine Tourism Complex Development' will be signed in the large conference room on the 2nd floor of the city hall.

The agreement involves eight organizations and corporations: Ulsan City, Buk-gu of Ulsan City, Companion Co., Ltd., BNK Ulsan Gyeongnam Bank, Dongwon Construction Industry Co., Ltd., Ulsan University Hospital, Hyatt Hotel, and Trune.

The agreement states that Ulsan City and Buk-gu will provide administrative support, while the participating corporations will mutually cooperate in timely project promotion, financing, faithful construction, facility operation, and technical support.

Business Plan Diagram.

Kim Doo-gyeom, Mayor of Ulsan, said, "We expect this to lay the foundation for Ulsan's tourism industry to take a step forward, and it will greatly contribute to revitalizing the local economy through the influx of foreign tourists and job creation."

Mayor Kim added, "We will communicate with private developers to establish distinctive and differentiated facility plans and feasible business plans, and we will spare no administrative support to ensure smooth project progress."

The Ulsan Marine Tourism Complex development project is planned to be carried out on a 1,708,000㎡ site in Sinmyeong-dong, Buk-gu, with a private investment of 745.5 billion KRW. It aims for completion in 2027 and will include accommodation facilities (550 rooms), medical recreation facilities (600 rooms), leisure and entertainment facilities (such as a theme park), and an 18-hole golf course.

Currently, various impact assessments required at the administrative planning stage are underway following the private developer's proposal application. The designation will be decided after comprehensive review based on the results of permits and approvals under individual laws. Subsequently, detailed plans will be established and approved, followed by construction, completion, and operation.