ULSAN < invest Korea

According to Newsis,

Ulsan Free Economic Zone Authority (UFEZA) announced on May 16 that it would hold the ‘UFEZ (UFEZ) Large Business and SMEs Win-Win Investment Foundation (Platform) Contest’.

Hosted by the Ulsan Center for Creative Economy and Innovation (CCEI Ulsan), this contest was initiated in collaboration between large corporations and public institutions in Ulsan to attract promising companies in such areas as hydrogen and low-carbon energy, future mobility, and future chemical new materials in Ulsan Free Economic Zone (UFEZ).

The 'UFEZ Large Business and SMEs Win-Win Investment Platform Project' aims to discover domestic and foreign startups, ventures, and SMEs in the key strategic industries of the UFEZ through public contest.

After that, outstanding companies will be selected through verification and evaluation by experts from large corporations and public institutions. Selected ones will be supported so that they can start or expand their business in Ulsan going forward.

The public contest runs from May 16 to July 1. By conducting verification and evaluation from July to August, excellent companies will be selected and awarded in early September.

In addition, there will be a demand technology briefing session on June 9 to help the understanding of the technologies in demand suggested by partner companies.

The finally selected companies would receive support in such ways as: a fund for relocation to Ulsan (up to KRW 10 million per company) including building/equipment/facility rental fees, domestic stay expenses; commercialization funds including prototype production, materials purchase and marketing (up to KRW 20 million per company); participation in exhibitions/investor networking; and expert consulting and mentoring.

For more details about the contest and how to apply, visit the CCEI Ulsan website ( https://ccei.creativekorea.or.kr/ulsan/) or U-STAR website ( https://ustar.or.kr).


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Source: Newsis (May 15, 2022)