ULSAN < invest Korea

Ulsan announced that the city ranked the 1st among 16 Korean cities and provinces in terms of gross regional domestic product (GRDP), regional gross earnings and personal income per capita based on the Statistics Korea’s report on the 2011 regional income.

Ulsan’s GRDP reached KRW 68.40 trillion, which showed the highest growth rate of 15.6 percent year-on-year among all Korean cities and provinces.

Ulsan also ranked in the first place with GRDP per capita at KRW 61.88 million (USD 55.846 million), followed by South Chungcheong Province (KRW 40.33 million). Korea’ GRDP on average was at KRW 24.942 million (USD 22.05 million).

Ulsan’s regional gross earnings accounted for 3.5 percent of Korea’s earnings at KRW 43.72 trillion.

Its regional gross earning per capita held the No.1 position at KRW 39.54 million (USD 35,682), followed by Seoul at KRW 37.67 million.

Personal income of Ulsan grew to KRW 20.15 trillion from last year’s KRW 2.24 trillion, showing a 12.5 percent growth.

Ulsan also ranked the first with personal income per capita at KRW 18.235 million (USD 16,456) followed by Seoul at KRW 16.964 million.

** This article was translated from the Korean.