ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City announced on December 19 that the Bangeojin sea road construction project was selected as a one of the "300 New Deal Projects" by the Ministry of Oceans and Fisheries.

The sea road construction project aims to improve the 2.8km sea road in Bangeojin, Ulsan. The construction will begin in 2019 and be completed by 2020.

Major tasks include construction of fishing areas, water-friendly spaces, and coastal-theme roads.

The city will invest a total of KRW 10 billion, including a KRW 7 billion government fund for the New Deal projects and additional KRW 3 billion investment from the city and the district municipality.

The "Fisheries 300 New Deal Projects" is a government policy to promote modernization of the country's 300 fisheries villages and ports, which will lead to promotion of marine tourism and innovative growth that create jobs and raise the quality of life of fishieries villages.

The project will help the city create more jobs in such time of stagnated economic growth due to the deterioration of the shipbuilding industry.

canto@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (December 19, 2018)