Ulsan Epyt Star City Launches in Booming Ulsan Station Area
Strong Interest from Real Demand Buyers
The Seoul Mountain Area is emerging as a ‘Northeast Asia Hydrogen and Energy Hub.’ Following the government and Ulsan City's additional designation of the ‘Ulsan Station Area Complex Specialized Zone’ as part of the Ulsan Free Economic Zone, various infrastructure developments are accelerating to transform the area into an eco-friendly energy city focused on hydrogen and secondary batteries. As various development prospects continue, the nearby housing market is also experiencing a positive trend.
The Ministry of Trade, Industry and Energy newly designated the ‘Ulsan Station Area Complex Specialized Zone’ as part of the Ulsan Free Economic Zone in September last year. Consequently, the Ulsan Free Economic Zone has expanded from three districts?‘Electro-Hydrogen Auto Valley (Ewha General Industrial Complex),’ ‘Hydrogen Industry Hub Zone (Techno Industrial Complex),’ and ‘R&D Business Valley (Ulsan Institute of Science and Technology, KTX Station Area, High-Tech Valley)’?to four districts with the addition of the Ulsan Station Area Complex Specialized Zone. The total area has increased by 32%, from 4.75㎢ to 6.28㎢.
Ulsan Complex Urban Development, involving Ulju-gun, Ulsan Urban Corporation, and Hanwha Solutions, plans to complete the land development of the Complex Specialized Zone by 2026 and begin attracting companies. The zone will be developed on a 1.53㎢ site near Ulsan Station, with a total project cost of 1.0604 trillion KRW.
The Complex Specialized Zone will attract research and development (R&D) and service companies related to hydrogen and secondary batteries, establishing a high-density innovation space that integrates industry, academia, research, and government. The economic ripple effects are expected to be significant by 2030, with production inducement effects of 2.0036 trillion KRW, value-added inducement effects of 835.3 billion KRW, and employment inducement effects of 6,662 jobs.
The Ulsan Station Complex Specialized Zone is connected to the ‘R&D Business Valley’ to the north and east of the Ulsan Station area, which was designated as a Free Economic Zone in 2020 and is currently under development. To the south, it adjoins the urban convergence special zone, which is being developed as a ‘Pangyo-style Techno Valley.’ The Ulsan urban convergence special zone, designated in November 2024, aims to create a complex innovation space combining industry, residence, and culture, concentrating cross-ministerial corporate support projects to drive corporate investment and youth job creation as an innovation growth hub.
The Ulsan Free Economic Zone Authority’s strategy is to link the Complex Specialized Zone, R&D Business Valley, and urban convergence special zone to transform the Ulsan Station area into a high value-added future new growth and eco-friendly industrial innovation city focused on secondary batteries, hydrogen, future mobility, and artificial intelligence (AI), establishing it as a ‘Northeast Asia Hydrogen and Energy Hub.’
As the Complex Specialized Zone development project gains momentum, various infrastructures such as MICE industry facilities and roads are being established one after another. Optimal living environments including office, retail, cultural facilities, education, and housing are being provided. The Ulsan Exhibition and Convention Center, which opened in 2021 near Ulsan Station, has already become a complex business space where citizens can enjoy rest and leisure. Following the Ulsan Exhibition and Convention Center and Ulsan Eonyang Post Office Delivery Center, another public facility is being established. The Korea Water Resources Corporation’s Ulsan branch purchased land in the Ulsan Station commercial and business district last year and has begun development work for relocation.
With the acceleration of the Ulsan Free Economic Zone development project, the real estate market in the Seoul Mountain Area is also experiencing a positive trend. The influx of companies and population due to various development prospects is expected, increasing housing demand and raising surrounding property prices, thereby enhancing future value. Although the price increase in this area is modest, it shows an upward trend. Considering the deepening polarization in the real estate market and the stagnation of local housing markets, the price rise in this area is encouraging.
Meanwhile, with large construction companies planning new sales in the Ulsan Station area, where various development prospects continue, real demand buyers are showing keen interest. This is especially notable given the absolute shortage of housing supply in the Ulsan Station area over the past three years.
HL D&I Hanra is currently selling ‘Ulsan Epyt Star City,’ the first complex-type officetel in Ulsan, near KTX Ulsan Station. ‘Ulsan Epyt Star City,’ developed on the S2BL site in the KTX Ulsan Station area of Ulsan Metropolitan City, consists of seven buildings ranging from three basement floors to a maximum of 17 floors, with a total of 602 units: ▲119㎡ (exclusive area) Type A with 30 units ▲119㎡ Type B with 64 units ▲119㎡ Type C with 380 units ▲119㎡ Type D with 15 units ▲119㎡ Type E with 79 units ▲119㎡ Type F with 34 units.
The biggest attraction of ‘Ulsan Epyt Star City’ is that it significantly reduces the financial burden on contract holders. Initially, the contract deposit is 5%, with the first installment being 10 million KRW; after signing the contract, the remaining deposit is arranged as an interest-free loan, and the interim payments are also supported under interest-free conditions. Therefore, contract holders can greatly reduce their financial burden. Additionally, part of the acquisition tax is supported, and various sales conditions such as payback are offered. No subscription savings account is required, and the sales rights can be immediately transferred.
The greatest strength of ‘Ulsan Epyt Star City’ is the massive development prospects around the complex, including the establishment of the Free Economic Zone. It is also attractive for being located in a ‘triple station area’ served by three metropolitan railways. The sales complex is situated 400 meters in a straight line from KTX Ulsan Station. Once the metropolitan railway network is established, it will be possible to travel to Busan and major cities in Gyeongnam within an hour. The highway network is also well developed. It takes about five minutes by car to reach Seoul Mountain IC, providing easy access to the Gyeongbu Expressway, Ulsan Expressway, Hamyang-Ulsan Expressway, and Donghae Expressway. It is easy to travel anywhere nationwide.
The natural environment is also pleasant. The Taehwa River flows in front of the complex, and nearby are Gajisan Provincial Park, Ganwol Natural Recreation Forest, Ganwol Mountain, Sanbul Mountain, Balgeol Mountain, and Odu Mountain. Leisure facilities such as Jasujeong Cave Land, a drive-in theater, Jakcheonjeong Moonlight and Starlight Campgrounds, and Deung-eok Alps Campground are well equipped nearby.
Close proximity to Samsung SDI Ulsan Plant, which is undergoing expansion with a completion target of 2025, as well as Bancheon General Industrial Complex, Gilcheon General Industrial Complex, Ulsan Exhibition and Convention Center, and Girim Science Research Institute, makes it an ideal residential complex for work-life balance. Nearby schools include Samnam Elementary School, Eonyang Middle School, Eonyang High School, and Ulsan Industrial High School.
‘Ulsan Epyt Star City,’ Ulsan’s first complex-type premium residential complex, consists entirely of six types of units with exclusive areas of 119㎡ A to F, which are highly scarce. Unlike typical officetels, it is designed as single units similar to apartment housing, making it a suitable alternative to 84㎡ apartments. Some of the seven buildings in the complex allow cross ventilation, and the design mainly features 4-Bay slab-type layouts with excellent lighting and ventilation, which are rarely seen in officetels in Ulsan.
95% of all units are designed to have kitchen windows, and it boasts a high exclusive rate of 55%, which is rare in the Ulsan area. Particularly, the parking ratio per unit is 1.8, providing ample parking space and boasting the best parking facilities in Ulsan. The landscaping area is 1.7 times the legal requirement, creating a pleasant complex.
The complex layout is mainly south-facing, providing a comfortable living environment. Neighborhood living facilities and parking spaces are separated, so no cars run on the ground level. It is a so-called ‘car-free officetel,’ allowing residents to enjoy a park-like pleasant environment within the complex. Advanced systems are also introduced, including a facial recognition one-pass system for automatic elevator calls and opening of the main entrance door. Smart display switches and unmanned parcel delivery systems are also equipped.
Premium community facilities never before experienced in officetels are provided, including a garden view lounge where residents can enjoy a cup of tea, a fitness center with various exercise equipment to promote health and vitality, a kids’ play area designed for children’s eye level, and a guest house that protects visitors’ privacy.
Detailed information about the sale of Ulsan Epyt Star City can be confirmed through the upcoming model house, and pre-inquiries and registration of interested customers are available via the official website. The model house is located in Samsan-dong, Nam-gu, Ulsan Metropolitan City.
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