Building a Collaborative System with Large Corporations and Public Institutions
Applications Open for Startups Until March 14
The Ulsan Free Economic Zone Authority is hosting the ‘2025 Ulsan Free Economic Zone (UFEZ) Large-Medium-Small Win-Win Investment Platform Contest.’
2025 UFEZ Large, Medium, and Small Business Win-Win Investment Platform Contest Poster (Draft). Provided by Ulsan City
Held in collaboration with the Ulsan Center for Creative Economy and Innovation, this contest is designed to discover and support the growth of startups possessing demand technologies or new technologies sought by large corporations, with participation from large companies and public institutions in the Ulsan region.
The 14 large corporations include Hyundai Motor Company, HD Hyundai Oilbank, HD Hyundai Heavy Industries, Lotte Chemical, Lotte Central Research Institute, S-OIL, Moorim P&P, Samsung SDI, Hyosung Heavy Industries, Daehan Petrochemical, Korea East-West Power, SK Ecoplant, HD Hyundai Mipo, and Samsung Heavy Industries. The six public institutions are Korea Technology Finance Corporation, Korea Credit Guarantee Fund, Ulsan Technopark, Small and Medium Business Corporation, Korea Institute of Industrial Technology, and Korea Institute of Energy Technology.
The recruitment fields cover three core strategic industries of the Ulsan Free Economic Zone (UFEZ): ▲Future Mobility ▲Future Chemical New Materials ▲Hydrogen and Low-Carbon Energy, targeting startups with innovative technologies.
After document screening and presentation evaluation, approximately eight companies will be selected, each receiving 10 million KRW in commercialization support funds.
Additionally, various benefits will be provided, including ▲technology evaluation guarantees for investment review ▲consulting by business management experts ▲technology exchange meetings connecting large corporations’ demands with selected companies’ technologies ▲consulting by business management experts ▲support for participation in networks with investors.
Furthermore, if companies start or expand their business in Ulsan in the future, relocation support funds (up to 10 million KRW per company) will also be provided.
Interested companies can apply through the U-STAR website from February 24 to March 14.
Lee Kyung-sik, head of the Ulsan Free Economic Zone Authority, stated, “We will actively support the growth of startups discovered through this contest and strive to attract companies based on this foundation so that more companies in core strategic industries come to Ulsan.”
Since 2021, the Ulsan Free Economic Zone Authority has been promoting a large-medium-small win-win investment platform project to discover promising companies and attract them to Ulsan. Through annual contests, various benefits such as consulting linked with large corporations have been provided to selected companies, supporting a total of 33 companies to date.
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