ULSAN < invest Korea

On March 12, Ulsan-si announced that it will establish and operate "2024 Investment Promotion Plan" to create a "business and investment friendly city."

The plan, which aims to attract KRW 5.1 trillion investment from domestic and foreign companies, contains 3 strategies and 8 key tasks.

In order to effectiveness of investment promotion, the city plans to carry out all-round activities, such as identify key target companies and designate public officials in charge of investment promotion as the project managers.

Three strategies to attract investment are: ▲ laying the ground work for business-friendly investment ▲ discovering strategic target companies and bolster attraction ▲ on-site support tailored to companies and life-cycle investment management

In case of the strategy "laying the ground work for business-friendly investment", the city will push for expansion of business-friendly infrastructure suah as special opportunity complexes, and bolstering the foundation to attract national strategic industries such as secondary battery and bio industries.

With regard to "discovering and bolstering attraction of strategic target companies", the city will strengthen special investment benefits such as support for investment attraction subsidy, discovering and attracting promising companies, hold IR conferences, and publish and distribute IR materials.

A city official said, "corporate investment drives the revitalization of the local economy and job creation," adding, "with this plan, we will improve the investment environment and carry out all-round investment attraction activities."

hkm@yna.co.kr

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Source: Yonhap News (March 12, 2024)