ULSAN < invest Korea

According to Yonhap News,

Ulsan City said on January 20th that it newly established ‘Energy Industry Team’ which will be responsible for fostering new growth engine industries.

According to Ulsan, ‘Energy Industry Team’ was established under Industry Promotion Division, and is in charge of attracting and nurturing future growth engines of Ulsan such as secondary battery, atomic energy, new and renewable energy, and oil hub of Northeast Asia.

The secondary battery industry has emerged as a next main industry of Ulsan following automobile, shipbuilding, and petrochemicals with relevant companies such as SB LiMotive having moved to the City.

Ulsan City is pushing ahead with ‘the plan to grow Ulsan into the mecca of the atomic energy industry’ in line with the government’s strategy to ‘export atomic energy.’ The government’s project to create an oil hub of Northeast Asia is stoking expectations that the storage and sales of oil and related service industries will be developed.

An official of Ulsan said “we believe that Ulsan’s future growth engine lies in energy in the era of green growth, so we newly established a designated team.”

Source Text

Source: Yonhap News (Jan. 20, 2011)

**This is an English translation of a Korean news article.