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Ulsan to Evolve into Global Convergence Industrial City
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According to Yonhap News,

Ulsan Mayor Park Maeng-u unveiled his ambitious plan to develop the city into a global convergence city next year at the 150th regular meeting of Ulsan City Council.

He especially emphasized the importance of strengthening the competitiveness of regional companies in battery, new materials and IT sectors.

He also pledged to make Ulsan a global city focusing on welfare, safety and environment.

"We will spend our next year's budget improving our fiscal fundamentals and creating new growth engines and jobs," said Mayor Park.

Ulsan's next year's budget will amount to 2.549 trillion won, up 2.5 percent from this year.

Source Text

Source: Yonhap News (Nov. 12, 2012)

** This is the translation of a Korean article.