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Ulsan Free Economic Zones to partner with KOTRA to attract FDI

According to Yonhap News,

The city of Ulsan said on Oct 6 the launch of a feasibility assessment project, partnering with Korea Trade-Investment Promotion Agency to set up a strategy to help bring foreign investment flows into three Free Economic Zones- Hydrogen Towns, Auto Valley and R&D biz- Valley across the city.

This annual project conducted by outsourced researchers and sponsored by the Ministry of Trade, Industry and Energy extends to data collection and analysis to better understand the trends of hydrogen industry home and abroad, business comparative advantage, investment modeling, targeting and support work for investor relations (IR). The budget for the research work is estimated to total KRW100 million and KRW70 million comes from the trade ministry.

Ulsan Free Economic Zone has been aiming at raising funds that amount to over KRW5.5 trillion in total from 145 businesses and research centers throughout the world mainly in three districts until the year 2030.

Source Text

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Source: Yonhap News (Oct 6, 2020)

** This article was translated from Korean. 
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