On the 16th, the Ministry of Land, Infrastructure and Transport and Ulsan Metropolitan City announced that they have designated the Ulsan Metropolitancity Corporation as the implementer of the Ulsan urban convergence special district development project.
Following the designation of the Ulsan urban convergence special district and the approval of the basic plan in November last year, the designation of the implementer for the Ulsan urban convergence special district development project is expected to accelerate the project’s progress.
The Ulsan urban convergence special district is a project aimed at creating a mixed innovation space for industry, residence, and culture in Ulsan city to foster corporate investment and create youth jobs. It will be implemented in two areas: the KTX station area convergence district (1.62 million square meters) and the Daun innovation convergence district (300,000 square meters).
The KTX station area convergence district will establish a secondary battery strategic industry and post-business incubation (POST-BI) cluster, as well as agricultural technology innovation research and development (R&D) sites. There are plans to provide tailored specialized housing linked to job creation to induce local settlement of young talent. Additionally, an international school will be established to attract foreign corporations and encourage long-term residency of foreign skilled workers.
The Daun innovation convergence district plans to establish a proof-of-concept research center and R&D research complex and attract two national research institutions as lead organizations to induce the entry of related corporations. A comprehensive support center for corporations will be established to support climate tech start-ups and talent development through the provision of startup spaces and technology-based support.
Kim Ji-yeon, the National Land Policy Director of the Ministry of Land, Infrastructure and Transport, said, “Now that the implementer of the Ulsan urban convergence special district development project has been designated, we will spare no effort in providing the necessary support to ensure the Ulsan urban convergence special district is promoted effectively.”
Lee Jae-gon, Director of Urban Affairs for Ulsan Metropolitan City, stated, “In the future, I will lead the rapid revitalization of the special district through the linkage plans for various corporate, university, and business support programs from each department and the discovery of projects eligible for financial support.”
The Ulsan Metropolitancity Corporation plans to complete the land preparation work for the Ulsan urban convergence special district development project within the next four years. Go Ho-geun, the Deputy Minister of the Ulsan Metropolitancity Corporation, said, “We plan to complete the land preparation work by 2029 by executing the necessary preliminary procedures and establishing implementation plans.”