ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) On June 28, Ulsan city set up an investment promotion committee to actively attract domestic companies to Ulsan.

With regard to the policy of creating a hub of companies with small but technologically strong capability, included in the city's 10 major projects, the committee was established to select subsidy recipient companies, relocating to Ulsan city or newly establishing.

The committee is consisted of 20 members, from academic, industry, finance, and experts in investment.

The committee is responsible for advising and reviewing the selection of subsidy recipient companies, clarification of subsidy support standards, among others.

The city plans to relax standards for investment promotion subsidy and increase support ceiling, while providing differentiated support for companies relocated or established and incentives.

A city official said, "It is most important to attract companies and expand investment to revitalize Ulsan economy and generate decent jobs," adding that "We will do our best in providing administrative support as well as subsidies."



young@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (June 28, 2019)