June 16?19: Visit to Shanghai and Hangzhou, China
A New Turning Point for Market Expansion
Expectations for Enhanced Economic Cooperation
The Ulsan Free Economic Zone Authority will dispatch an economic zone delegation to Shanghai and Hangzhou, China, from June 16 to June 19 for a four-day, three-night visit, aiming to expand industrial cooperation and attract investment.
This delegation consists of six members, including Lee Kyungsik, Head of the Ulsan Free Economic Zone Authority, and officials from the Ulsan Free Trade Management Office.
During the visit, they plan to engage in activities such as sharing the operational status of economic zones, promoting cooperation in the hydrogen and secondary battery industries, meeting with local investors to hear about their challenges, and promoting the Ulsan Free Economic Zone (UFEZ).
The main agenda includes: listening to the difficulties faced by Korean companies operating locally and holding a meeting with the Shanghai New Energy Industry Association; visiting the Shanghai Pudong New Area Free Trade Zone Authority and Invest Shanghai to assess the investment environment and promote the Ulsan zone; visiting a secondary battery manufacturer in Hangzhou for investment consultations regarding the Ulsan region; meeting with the Hangzhou Comprehensive Bonded Zone to discuss cooperation in export-import logistics and processing; and visiting a leading electric vehicle company to discuss cooperation in the future mobility sector.
In particular, the delegation will visit Korean company A, which has entered the Chinese market, to directly hear about the challenges faced during its entry process, and to understand the company’s perception of and responses to changes in economic and industrial policies.
In the meeting with the Shanghai New Energy Industry Association, the delegation will introduce Ulsan’s energy industry development policies and support facilities, and discuss ways for renewable energy companies from both countries to enter each other's markets.
The Shanghai New Energy Industry Association is an organization composed of various companies and institutions in the renewable energy sector, serving as a cooperation platform for new energy companies both within and outside China.
During the visit to the Shanghai Pudong New Area Free Trade Zone Authority and Invest Shanghai, the delegation plans to focus on promoting the investment incentives and one-stop support system of the Ulsan Free Economic Zone, and to explore ways to collaborate on mutual investment attraction.
The Pudong New Area Free Trade Zone Authority is the first free trade pilot zone established by the Chinese government in the Shanghai Pudong area to create an open economic system aligned with international standards and to drive institutional innovation in finance, trade, and investment. Invest Shanghai is a professional, bidirectional investment promotion agency established by the Shanghai Municipal People’s Government, providing various services to attract foreign investment and support Shanghai companies in expanding overseas.
In Hangzhou, the delegation will visit secondary battery manufacturer B to introduce Ulsan’s cluster for secondary batteries, materials, and parts, and to conduct specific investment consultations. They will also discuss the potential for cooperation in export-import logistics and processing with the Hangzhou Comprehensive Bonded Zone.
The Hangzhou Comprehensive Bonded Zone is an outward-oriented economic zone that promotes investment and trade for both domestic and foreign companies, equipped with integrated functions for advanced logistics, processing, and research and development.
On the final day of the visit, the delegation will meet with leading electric vehicle company C to discuss cooperation in autonomous driving and future vehicle sectors.
Lee Kyungsik, Head of the Ulsan Free Economic Zone Authority, stated, "This visit will lay the foundation for strategic cooperation among East Asian economic zones and serve as a practical stepping stone for Ulsan companies to expand overseas. China remains an important investment market for Korean companies. We will continue to review the potential for industrial and economic zone cooperation in response to global industrial changes."
Ulsan Free Economic Zone Authority.
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