Ulsan City Holds Meeting for Opportunity Development Zone Leading (Anchor) Companies
Ulsan City will hold the 'Ulsan City Opportunity Development Zone Leading (Anchor) Company Meeting' at 11 AM on February 28 in the Economic Vice Mayor's Office on the 7th floor of the main building.
This meeting has been prepared to hear the investment promotion status and issues of each company related to the Ulsan-type Opportunity Development Zone designated by the Ministry of Trade, Industry and Energy on November 6 last year.
Information on the designation status of opportunity development zones in Busan and Gyeongnam regions can be found in the post below.
Listening to Corporate Investments and Suggestions After Designation of Opportunity Development Zones
The Ulsan-type Opportunity Development Zone consists of three districts leading the next-generation secondary battery industry, covering a total area of 4.2 million square meters, or 1.27 million pyeong. As of now, companies' investment plans are actively progressing.
About 10 representatives from the anchor companies in the opportunity development zone, including the Economic Vice Mayor, attended the recent meeting. They are expected to present the following major requests:
First, a request for additional tax reductions. Second, a request for expedited processing of various permits. Finally, they plan to propose the installation of temporary parking lots related to construction.
Ulsan City plans to carefully review these requests from companies and establish more effective support measures. This will promote regional economic development and further activate corporate attraction.
Ulsan City’s Corporate Support and Regional Economic Revitalization Strategy
The Economic Vice Mayor of Ulsan City stated, "In addition to regulatory exemptions, tax support, and financial support as incentives for the Opportunity Development Zone, we are doing our best to reduce the time and opportunity costs for companies through the operation of field support managers for investing companies and various permit support."
He also expressed a strong will to enhance the quality of life of citizens and regional economic revitalization, stating, "We will make Ulsan a better place to live beyond being a business-friendly city." He emphasizes that the future of Ulsan should move in a direction that allows both companies and citizens to grow together.
Overview of Ulsan Opportunity Development Zone and Investment Plans
The Opportunity Development Zone system was introduced to attract large-scale investments to local areas, overcoming the crisis of local extinction, and promoting balanced regional development. This system allows local governments to design and operate autonomously, while the central government supports through tax and regulatory special cases.
Eleven leading (anchor) companies are participating in the Ulsan Opportunity Development Zone. They plan to invest about 22 trillion won in a total of 4.2 million square meters (1.27 million pyeong) of land, including Ulsan-Mipo National Industrial Complex, Onsan National Industrial Complex, Ulsan High-Tech Valley General Industrial Complex, Ulsan North Port and its hinterland. Such large-scale investments are expected to have a positive impact on the regional economy.
Participating Companies in Ulsan Opportunity Development Zone
Hyundai Motors, Samsung SDI, S-OIL, Korea Zinc, LS MnM, SK Geo Centric, SK Gas, Korea Energy Terminal, Lotte SK EnerRoute, SM Lab, and several other companies are participating in this investment attraction, which is expected to bring significant changes to Ulsan's industrial ecosystem.
Based on next-generation secondary batteries, eco-friendly energy, and advanced material industries, Ulsan is expected to achieve innovation and further strengthen its global competitiveness.
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