ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan city announced on February 5 that GWIC, a private company, is working on the establishment of GW general industrial complex with KRW 140 billion, targeting construction completion by 2021.

This complex is being created on the area of 450,000 sq.meters in Onyang-eup, Ulju-gun, Ulsan.

The company received approval for its industrial complex plan from Ulsan city in April 2014, but had some difficulties in the early stage for economic recession. It began construction work in November 2017.

For the complex as a whole, the progress rate is good at 37%. And the subscription rate of occupants stands at 70%.

The industries invited for GW industrial complex are: First metal manufacturing; electric device manufacturing; other machine and equipment manufacturing; and automobile and trailer manufacturing.

Ulsan city will build an access road to make it easier to access the industrial complex and secure better transportation .

For the access road, KRW 29.5 billion (national budget KRW 22.9B, city budget KRW 6.6B) will be financed.

In Ulsan, there are currently 29 industrial complexes: two national industrial complexes, four agricultural complexes, and the remainder 23 are general complexes. Also, ten industrial complexes under consideration are all general complexes.

young@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (February 5, 2019)