ULSAN < invest Korea

According to Yonhap News,

On October 17, Ulsan-si announced that it has attracted investments (KRW 1 trillion) from Korea Zinc for establishment and expansion of including a high-purity nickel production plant.

This investment consists of three components.

Korea Zinc will establish a high-purity nickel production plant with an annual production capacity of 42,600 tons, by investing KRW 556.3 billion from this month to the second half of 2025 on a 56,760㎡ site in Onsan National Industrial Complex through its affilicate Chemco, a nickel sulfate producing company.

Combied with existing production capacity of Chemco, 22,300 tons, the total will amount to about 64,900 tons.

The produced nickel will be used to produce various products such as nickel sulfate and precursors.

In addition, Korea Zinc will invest KRW 146 billion from November this year to December 2025 on the site of the Onsan Refinery to establish a low-carbon and eco-friendly secondary battery material production plant using circular resources.

In addition, it will make investment of KRW 240.5 billion to build an integrated control, safety, and health center for the refinery by the first half of 2027.

The city expects that when this investment amounting to KRW 1 trillion is completed, it will create about 300 new jobs.

The two sides are to sign an investment agreement for establishment and expansion of prodcution plant at City Hall.

According to the agreement, Korea Zinc will put priority to Ulsan citizens when hiring, while the city will provide administrative supports such as prompt licensing and permission, among others.


canto@yna.co.kr

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Yonhap News (October 18, 2023)