FDI Status | Ulsan

FDI Status (as of December 2022)

Ulsan has attracted foreign direct investment of USD 14.9 billion. In 2022, it received USD 3.3 billion FDI, the largest ever.
In particular, companies from Japan, German, and Middle East are accounting for a great share of investment in major industries in Onsan and Mipo National Industrial Complexes.
By industry, investment inflow has been concentrated on Ulsan's main industries such as automotive, shipbuilding, and petrochemical industries. In addition, investment from foreign-invested companies has been increasing in the new growth engine industries for the future, such as hydrogen energy, secondary battery, offshore wind power, and bio industries.

FDI by country

(Unit: USD million)

Netherlands 2,552 Japan 2,040 Germany 1,375 Singapore 1,298 US 848 UK 683 Kuwait 555 France 374 Belgium 272 Malaysia 213 Saudi Arabia 182 Spain 107 Others (34 countries) 974

* Others(34 countries, No. of reported/investment amount (USD 1,000)) : Barbados(3/599,000), Norway (14/90,882), Luxembourg(4/89,582), Sweden(19/32,225), Uruguay(4/31,009), Swiss(30/30,391), Mexico(1/2,756), Canada (3/1,386), Virgin Islands(1/1,000), Russia (4/777), Denmark (2/618), Vietnam (2/532), Libya(2/450), Mongolia(5/371), Nepal (5/306), Turkey (3/285), Pakistan (3/285), UAE(2/231), Thailand (2/190), Sri Lanka(2/173), Bangladesh(2/116), Brazil(1/100), Panama(1/100), Seychelles(1/99), Togo(1/95), India (1/95), Philippines(1/90)

FDI by industry

(Unit: USD million)

Chemical Engineering 7,148 Transportation Machinery 2,064 Metal 729 Electrics, Electronics 475 Wholesale and Retail (Distribution) 184 Pharmaceuticals 172 Transportation, Warehouse 125 R&D, Science and Technology 113 Electricity-Gas 108 Textile-Apparel 83 General construction 80 Nonmetal 72 Others 120

Message from Investors

Korea BASF CFO
Mark Bueltel-Herz

Ulsan is a hub port in Northeast Asia and center of the chemical industry. BASF has operated large-scale facilities producing various high value-added chemical solutions in Ulsan Petrochemical Industrial Complex and Onsan National Industrial Complex for long time.

We hope continued growth of BASF and Ulsan-si through our nex facility investment and expansion.
President, Asia at Air Products and Chemicals, Inc
Wilbur Mok

Air Products has made investment and presence in Ulsan for more than 30 years, starting from 1990, based on multi-faceted support from Ulsan-si. Air Products is contributing to industrial development of Ulsan by building Korea's largest gas pipe for industry and plant for safe and reliable gas supply. According to the company's higher goal of resolving energy and environmental issues, we are building and operating Korea's first hydrogen charging stations. In the days to come, we hope close cooperation between Ulsan and Air Products for further development and greener and sustainable society. (Feb 2022)
Managing Director of Equinor Korea
Jacques-Etienne Michel

Ulsan is the center of Korea's heavy and chemical exports. The global competitiveness for clean energy is urgently required more than ever as a means to achieve carbon neutrality. Equipped with solid offhosre floaring wind farm construction technology and vision for energy trnasition, Equinor wants to grow globally togehter with Ulsan. The success of Ulsan's offshore floating wind farm project is the sucess of Ulsan-si, citizens and companies. We will go together.

Major Foreign Companies Investing in Ulsan