Ulsan City Counts Down to Completion of Hyundai Motor's New EV Plant... All-Out On-Site Support

Hyundai Motor Company's New Plant Hosts Corporate On-Site Support Task Force Meeting on the 27th
Progress Report on Completion Preparations and Inspection of Production Line Facilities

The Ulsan plant of Hyundai Motor Company, a symbol of South Korea's industrialization that broke ground in 1968, is set to create a new legend after 60 years.

On November 27 at 10:00 a.m., the Ulsan Metropolitan Government will hold a 'Corporate On-Site Support Task Force (TF) Meeting' at the Vision Hall of Hyundai Motor Company's new electric vehicle plant (Ulsan EV Plant).

This meeting will be attended by Ulsan Mayor Kim Dukyum, Hyundai Motor Company CEO Lee Dongseok, as well as officials from the Ulsan Metropolitan Government and Hyundai Motor Company, totaling about 20 participants. They will share updates on the progress of the new electric vehicle plant ahead of its completion, discuss necessary areas of cooperation, and gather on-site feedback.

The meeting will include the screening of a promotional video on the construction of the new electric vehicle plant, a report on the status of completion preparations, and discussions on collaboration needs for each relevant department or institution.

Afterwards, attendees will visit the body shop of the new electric vehicle plant for a commemorative photo and a tour of the production line facilities.

The new electric vehicle plant represents the first large-scale investment project in Ulsan under the eighth popularly elected administration. Construction began in September 2023 on a site of approximately 550,000 square meters within the Mipo National Industrial Complex, with a total investment of 2.3 trillion won. The plant is scheduled for completion by the end of this year.

Following trial production, mass production of electric vehicles is planned to begin in the first half of next year, with an annual capacity of 200,000 units. The plant is expected to become a key hub for electrification as a next-generation manufacturing facility.

Until the factory is completed, the Ulsan Metropolitan Government is meticulously reviewing the required administrative support tasks and is operating a dedicated task force (TF) to ensure there are no gaps in on-site corporate support.

As the project enters the final inspection stage before completion, the city plans to work closely with Hyundai Motor Company to review and coordinate issues requiring inter-agency cooperation, such as permits, infrastructure, and on-site challenges, to facilitate a smooth completion.

Even after completion, during the initial operation phase, an integrated on-site support system will be maintained to ensure stable production.

Hyundai Motor Company CEO Lee Dongseok stated, "Thanks to Ulsan City's business-friendly policies, every stage of the new electric vehicle plant project has progressed smoothly. We will actively pursue continued investment so that Ulsan can become a center for eco-friendly vehicle production."

Mayor Kim Dukyum said, "With completion imminent, we will systematically review and thoroughly address the remaining tasks. We will strengthen the role of the task force (TF) so that administrative support can be provided swiftly in line with the pace of the corporate sector."

In July 2022, following the construction of Hyundai Motor Company's new electric vehicle plant in Ulsan-the first in 34 years-the city succeeded in attracting an additional investment for a hydrogen fuel cell plant worth 930 billion won in April this year.

The Corporate On-Site Support Task Force (TF) operated by the Ulsan Metropolitan Government serves as an integrated (one-stop) support system for resolving issues faced by investing companies. Since its launch in January last year, it has achieved various results in on-site support and investment attraction.

With continued new investments from Hyundai Motor Company, technical recruitment resumed in 2023 for the first time in a decade, with a total of 2,300 new hires planned by next year. This is expected to significantly contribute to attracting young people and revitalizing the local economy.