Signing of MOU for the Development of ‘Ulsan Marine Tourism Complex’

Ulsan City, Buk-gu and 8 Other Organizations and Corporations Participate

Development of Accommodation, Medical, Recreation, and Golf Facilities in Buk-gu

Creation of a Stay-Type Tourism Complex to Revitalize the Region

On the 29th at 3 PM, Ulsan City signed a business agreement for the 'Creation of Ulsan Marine Tourism Complex' in the large conference room on the 2nd floor of City Hall.

On this day, eight organizations and corporations participated in the agreement, including Ulsan City, Buk-gu, Companion Co., Ltd., BNK Ulsan Gyeongnam Bank, Dongwon Construction Industry Co., Ltd., Ulsan University Hospital, Hyatt Hotel, and Trun.

Kim Doo-kyum, Mayor of Ulsan (fifth from the left), is conducting a business agreement for the development of the Ulsan Marine Tourism Complex.

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

Kim Doo-gyeom, Mayor of Ulsan City, said, "This will lay the foundation for Ulsan's tourism industry to take a step forward and greatly contribute to revitalizing the local economy through the influx of foreign tourists and job creation." He 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 the smooth progress of the project."

The Ulsan Marine Tourism Complex project is a plan to invest 745.5 billion KRW of private funds into a 1,708,000㎡ site in Sinmyeong-dong, Buk-gu, to build accommodations (550 rooms), medical wellness facilities (600 rooms), leisure and entertainment facilities (such as a theme park), and an 18-hole golf course, scheduled for completion in 2027.

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 development plans will be established and approved, followed by construction, completion, and operation.