ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) On April 6, the city of Ulsan invited ambassadors from the Gulf Cooperation Council (GCC), an economic cooperation organization of Arab oil producers, to an investment-cooperation meeting at the Lotte City Hotel Ulsan.

The meeting, hosted by Ulsan Mayor Kim Gi-hyeon, was attended by executives from conglomerates based in the city, such as Hyundai Motor Company, Hyundai Heavy Industry and S-OIL, as well as the president of Korea National Corporation (KNOC).

Prior to the meeting, the GCC ambassadors to Korea toured Hyundai Heavy Industry and Hyundai Motor Company facilities, and visited the Ulsan Bridge Observatory, recently rising as a popular tourist destination.

According to Mayor Kim, "the Middle East is an ally and economic partner that provided Korea with its driving force of industrialization," adding, "in particular, the succession of investment is Ulsan's petrochemical industry by national companies of Middle Eastern countries, such as SABIC, ACP, Kuwait PIC, and the KRW 8 trillion investment by Saudi Arabia's ARAMCO, is injecting new energy into the local economy."

leeyoo@yna.co.kr

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