News & Event
- Home
- News
- News & Event
Ulsan city unveiled a plan to attract 50 more knowledge-based services
The city of Ulsan hosted the 2nd round of strategy meeting to discuss how to promote investments in knowledge-based business and services at the presence on senior level city officials and representatives of Ulsan Economic Promotion Agency (UEPA), Ulsan Techno Park (UPT) and Ulsan ICT Promotion Agency (UIPA) on Nov 11.
The event proceeded in the order of a plenary session reviewing what have been and will be pushed for, alongside performance assessment. According to the city’s report, there are significant disparities in sectoral shares in GDP. For example, the share of manufacturing industry in Ulsan city is more than double the national average, whereas service sector falls far short of half of Korea’s industry output. The contribution gap to GDP growth has urged the city to pay greater attention to giving full attention to knowledge industries which would bring added-value to the economy, while keeping its key growth businesses competitive since early this year. With the aims of adding 563 new jobs and 50 new businesses over the next five years until the year 2024 to meet the city initiatives, Ulsan city has formed a taskforce in charge of orchestrating investment promotion activities.
As a result, the commitment ended with a great success, attracting seven SMEs including Hyundai Global Service to Ulsan city, an official said.
The city government said they’ll make additional efforts to keep working on investment attraction targeting businesses to invest in service / new industries in Ulsan Free Economic Zones, Hydrogen-genome Regulation Free Special Zones and Ulsan Innopolis.
hkm@yna.co.kr
** This article was translated from Korean.
Date
2020.11.23
Views
336
According to Yonhap News,
The city of Ulsan hosted the 2nd round of strategy meeting to discuss how to promote investments in knowledge-based business and services at the presence on senior level city officials and representatives of Ulsan Economic Promotion Agency (UEPA), Ulsan Techno Park (UPT) and Ulsan ICT Promotion Agency (UIPA) on Nov 11.
The event proceeded in the order of a plenary session reviewing what have been and will be pushed for, alongside performance assessment. According to the city’s report, there are significant disparities in sectoral shares in GDP. For example, the share of manufacturing industry in Ulsan city is more than double the national average, whereas service sector falls far short of half of Korea’s industry output. The contribution gap to GDP growth has urged the city to pay greater attention to giving full attention to knowledge industries which would bring added-value to the economy, while keeping its key growth businesses competitive since early this year. With the aims of adding 563 new jobs and 50 new businesses over the next five years until the year 2024 to meet the city initiatives, Ulsan city has formed a taskforce in charge of orchestrating investment promotion activities.
As a result, the commitment ended with a great success, attracting seven SMEs including Hyundai Global Service to Ulsan city, an official said.
The city government said they’ll make additional efforts to keep working on investment attraction targeting businesses to invest in service / new industries in Ulsan Free Economic Zones, Hydrogen-genome Regulation Free Special Zones and Ulsan Innopolis.
Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.
hkm@yna.co.kr
Source: Yonhap News (Nov 17, 2020)
** This article was translated from Korean.