ULSAN < invest Korea

According to Yonhap News,

Ulsan Free Economic Zone Authority (UFEZA) announced on Feb 8 the construction plan which came into the 2nd stage to form a mega-scale business cluster, named ‘Hightech Valley’. The cluster was designated as part of Free Economic Zone (FEZ) last year with the aim of auto-parts production and R&D to develop the future mobility.

The first phase of the project came to an end in the year 2018, spending as much as KRW 49 billion in total. The second stage will cost KRW171.8 billion to add facilities on a 576,000㎡ site by the end of 2023.

UFEZA head said “By further consolidating partnerships with relevant entities involved in the project, we’ll reshape the nearby communities as an industry hub where hydrogen-clean energy businesses are agglomerated.”

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Source: Yonhap News (Feb 8, 2021)