Dedicated Public Officials Dispatched On-Site, Shortening Factory Permit Periods
Development Restriction Zone Lifted, Leading to Pro-Business Administrative Achievements
Since the launch of the 8th term of the civil government, Ulsan City's investment attraction performance has surpassed 20 trillion won.
On the 25th, Ulsan City announced that following the signing of a memorandum of understanding for an investment worth approximately 1 trillion won between Ulsan City and Hyundai Motor Company on the 24th, the total investment attraction amount since the launch of the 8th term of the civil government has exceeded 20 trillion won.
Surpassing 20 trillion won in investment attraction is an achievement reached in just 1 year and 10 months since the launch of the 8th term of the civil government in July 2022, exceeding the scale of investment attraction by any previous elected local government.
The investment attraction performance since the 8th term of the civil government to date amounts to a total of 20.7224 trillion won from 373 companies.
The new industry sector, including secondary batteries, accounts for 7.2 trillion won or 34.9%, the automobile and shipbuilding sectors account for 3.5 trillion won or 17.1%, the petrochemical sector accounts for 9.5 trillion won or 46%, and other sectors account for 500 billion won or 2%.
The scale of employment by companies is also expected to reach 7,625 people, significantly contributing to job creation and revitalization of the local economy.
Notably, investment attraction in the future car sector, including Hyundai Motor Company's electric vehicle and hypercasting production plant establishment, has led to investments by automobile parts companies such as Otronic Co., Ltd., Seonjin Industry Co., Ltd., Shingirogics Co., Ltd., and Jeongsan Tech Co., Ltd.
In the secondary battery sector, investments were attracted from Korea Zinc Co., Ltd. for new and expanded secondary battery material production plants and Samsung SDI Co., Ltd. for new secondary battery production plants.
In the electrolyte material sector, Husung Co., Ltd., in the separator material sector, Yongsan Chemical Co., Ltd., in safety parts production, Shinheung SEC Co., Ltd. and Nanoteam Co., Ltd., and in the cathode material sector, LSMnM Co., Ltd. were also attracted.
Additionally, investments were attracted for the construction of a petrochemical complex facility by S-Oil Co., Ltd., Nexlene production plant by SSNC, hydrogen fuel cell power plant by Lotte SK Enerute, modernization of Ulsan plant by HD Hyundai Construction Equipment Co., Ltd., hydrogen gas production plant by K&D Energen Co., Ltd., and expansion of eco-friendly liquid cargo storage facilities by Hyundai Oil Terminal Co., Ltd.
It is expected that concrete results such as increases in Gross Regional Domestic Product (GRDP) and regional export volume will appear 2 to 3 years after the large-scale investment attraction projects are completed and fully operational.
These investment attraction achievements are the result of Ulsan City setting the policy direction of creating a "business-friendly corporate city Ulsan" and striving to improve the investment environment simultaneously with the launch of the 8th term of the civil government.
In particular, Mayor Kim Doo-gyeom of Ulsan City has promoted bold pro-business administration to revitalize investment attraction since the beginning of his term.
A dedicated on-site support task force (TF) was formed with employees from the licensing departments, and public officials were dispatched to the sites of investing companies to support licensing. As a result, the licensing period for Hyundai Motor Company's electric vehicle plant was shortened from 3 years to 10 months, and the licensing period for Samsung SDI's battery production and cathode material production plants was drastically reduced from 3 years to 6 months.
Furthermore, to overcome the crisis of local extinction and create a business-friendly Ulsan, Mayor Kim Doo-gyeom actively pursued the lifting of development restrictions, which was his first campaign pledge.
Thanks to Mayor Kim Doo-gyeom's continuous government appeals and efforts to persuade the Minister of Land, Infrastructure and Transport, 189,000 square meters of development-restricted area in the Daun-dong area of Jung-gu, Ulsan, was lifted in December last year.
The city plans to pursue lifting restrictions in Nam-gu Ulsan Sports Park, Dong-gu Nam-mok General Industrial Complex, Jung-gu Seongan and Yaksail General Industrial Complexes, and Ulju-gun Yulhyeon District to timely create and supply industrial sites, thereby building a business-friendly corporate city Ulsan.
Based on these achievements, Ulsan City is preparing for a new 60 years for sustainable development.
It plans to designate opportunity development zones where regulatory exemptions, tax and financial support, and improvements in residential conditions are possible, laying the foundation for the relocation of companies from the metropolitan area and large-scale regional investment attraction.
In line with the enforcement of the "Special Act on the Activation of Distributed Energy" in June this year, the city will promote the designation of a distributed energy specialized area to supply electricity to companies at low cost. If designated as a distributed energy specialized area, it is expected to gain more momentum in attracting companies in power-intensive industries such as semiconductors, secondary batteries, and data centers.
By additionally designating the Ulsan Free Economic Zone, the city aims to promote the nurturing of new industries such as secondary batteries and activate domestic and foreign investment attraction in eco-friendly energy sectors. Furthermore, by designating two urban convergence special zones at Ulju-gun KTX station area and Jung-gu innovation district, it will create a high-density innovation space integrating industry, academia, research, and government, thereby establishing a corporate-friendly investment foundation.
New industries such as future mobility including electric vehicles, secondary batteries, life sciences (bio), autonomous driving, and digital transformation will also be intensively nurtured.
Mayor Kim Doo-gyeom of Ulsan said, "Pro-business administration, such as dispatching city employees to company sites to support licensing so that factories can be built quickly, has greatly contributed to companies' investment decisions," adding, "Based on these achievements, we will further solidify our reputation as an industrial capital and devote all efforts to creating 'Ulsan, a city good for investment' through designations such as opportunity development zones and distributed energy specialized areas."
Ulsan City Hall
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