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New Industrial Park to Be Built in Ulsan

Ulsan announced last Thursday that the city will initiate its new technology industrial park project as a reviewing committee on regional industrial park plans passed its plan on conditions.

Ulsan will begin construction in the first half of 2014 to be completed in the first half of 2017.

The Korea Industrial Complex Corp. and Ulsan Metropolitan City Authority will invest KRW 352.2 billion in the project which will be established in the site of 1.287 million m2 in Duwang-dong, Nam-gu.

The advanced industrial park with research and industrial facilities is expected to drive the growth of Ulsan.

Four research agencies including Ulsan branch of the Korea Institute of Energy Research finalized their plans to move into the complex. The city is also attracting research agencies in the field of advanced convergence parts and materials, fine chemicals and new and renewable energy.


Source Text: Yonhap News (May 30, 2013)

** This article was translated from the Korean.