ULSAN < invest Korea

(ULSAN=Newsis News) Ulsan Metropolitan City announced January 3 that last year it attracted a total of USD 540 million in the reported amount of foreign direct investment (FDI).

The figure is a 185 percent increase from the USD 273 million attracted in 2016.

In an effort to overcome the ongoing economic crisis and find a new growth engine, the city has pushed forward with a full-scale initiative last year to attract investment by making visits to potential investors in Korea and overseas.

In June, 2017, the city's investment promotion delegation made a world tour, stopping in the United States, Germany and Hong Kong, to attract investment from global companies.

As a result, Wacker and SNF signed a memorandum of understanding (MoU) with Ulsan to expand their facilities with a total investment of USD 195 million.

The city also attracted investments worth a total of USD 504 million from U.S.-based rolled aluminum giant Novelis, Japan's Kobe Steel, Belgium's Umicore, and Japan's Teijin.



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Source Text

Source: Newsis News (Jan. 3, 2018)