Ulsan City to Support Relocation of Tech SMEs to Ulsan

Ulsan City, Ulsan Technopark, and Relocated Companies Sign MOU

Attracting Innovative SMEs with Technology and Supporting R&D

On the 5th, Ulsan City will sign a “Business Agreement for Promoting Investment in Technology-Driven Small Giants and Supporting Research and Development” in the Situation Room on the 7th floor of City Hall’s main building.

This agreement has been arranged to attract technology-driven small giants that can connect core industries with future new industries by creating new jobs centered on technology and providing support for research and development (R&D) funding.

The signing ceremony will be attended by Ahn Hyodae, Deputy Mayor for Economic Affairs, Cho Youngshin, President of Ulsan Technopark, as well as representatives from New Horizon Co., Dipla Co., Marcus Co., IMD Co., SG Sanjeon Co., MD Soft, MU Tron Co., Umed Co., Eunyeon Tech, Kavilab Co., KMO Tech, and about 20 others, including CEOs of companies that have relocated to or are planning to relocate to Ulsan this year.

According to the agreement, the participating companies will prioritize creating quality jobs centered on Fourth Industrial Revolution technologies and will give top priority to hiring Ulsan citizens. They also promise to improve working conditions and employee welfare by investing in workplace facility improvements and contracting with local Ulsan companies when executing project budgets, thereby contributing to the revitalization of the local economy.

Ulsan City and Ulsan Technopark will provide between 60 million and 80 million KRW per company to support the research and development (R&D) necessary for project execution. Following the signing of the agreement, a meeting will also be held to listen to the difficulties and opinions of technology-driven small giants in order to attract and foster such companies.

Ahn Hyodae, Deputy Mayor for Economic Affairs, stated, “We will actively support technology-driven small giants relocating to Ulsan so they can settle and grow stably,” and added, “Ulsan City will do its utmost to make Ulsan a city of enterprises not only by supporting R&D funding for technology-driven small giants, but also by creating a business-friendly investment environment and attracting strategic investments.”

Since 2019, Ulsan City has been pursuing a project to attract 500 technology-driven small giants and create 10,000 jobs over a total of 10 years until 2028, with the aim of advancing core industries and fostering future new industries.

Ulsan City is currently implementing special support subsidies for relocation and startup companies, as well as R&D funding support systems, to promote the relocation of technology-driven small giants to Ulsan. In particular, through the “Technology-Driven Small Giants Attraction Support Project” promoted in connection with Ulsan Technopark since 2020, the city selected 41 technology-driven small giants that relocated to Ulsan over the past four years and provided them with R&D funding support.

The city plans to continue focusing on attracting technology-driven small giants with technological capabilities in various fields such as regional core industries, future new industries, low-carbon green industries, and knowledge service industries through ongoing support.