ULSAN < invest Korea

(ULSAN=NEWSIS) Ulsan City announced December 2 that the city and North Gyeongsang Province will sign a joint business agreement on December 4 to develop a specialized research and development (R&D) zone in the East Sea area.

The two cities will mutually cooperate to carry out research, studies and PR activities to designate the specialized R&D zone.

The specialized R&D zone in the East Sea area will comprise three sectors including high-tech energy parts and materials, high-tech bio-medical (bio-health) and energy resource development.

When designated as a specialized R&D zone, the area will receive research and business development support for commercialization of specialized sectors and tax benefits for research institutes and high-tech companies.

The city expects the specialized R&D zone will integrate R&D to develop the city as a R&D centered creative economy city.

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