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Ulsan to Attract German Mid-sized Firms

(ULSAN = Newsis) The city of Ulsan announced on January 22 that it will attend “KGCCI economic outlook 2014”, which is held by the Korean-German Chamber of Commerce and Industry, and hold an information session to introduce the investment environment and major business opportunities.

The session will be attended by multinational companies around the world and, in particular, 90 mid-sized German companies.

The city will play a video that shows Ulsan’s attractive investment environment, major business projects and incentives provided to foreign investors, and provide consultation services to the companies.

As the largest industrial city and the logistics hub of Northeast Asia, Ulsan plans to provide differentiated investment opportunities and emphasize the image of the city as a global investment destination by promoting its core investment projects including Ulsan Free Trade Zone, the Northeast Asian Oil Hub Project and UIsan Techno Valley and others.

“Germany is the fourth-largest economy in the world with a number of global companies, and it has been a main investor in Ulsan with around USD 500 million. We will further promote the city’s investment opportunities to the German companies as the global economy is back on track and investment in Ulsan is expected to rise.”

The city plans to continue the investment promotion activities to attract the companies which participated in the seminar and dispatch a trade mission to Germany to induce investment.

Source Text

Source: Newsis (Jan. 22, 2014)

** This article was translated from the Korean.