ULSAN < invest Korea

According to Newsis,

[Ulsan=Newsis] Reporter Yoo Jae-hee = Ulsan Metropolitan City announced on the 1st that it will establish a KRW 50 billion (USD 37.5 million) 'Ulsan Future Growth Fund' alongside local enterprises, financial institutions, and research/educational organizations to drive the city's transformation into a startup hub.

The fund was pursued following the city's selection in March for the Ministry of SMEs and Startups' '2026 Regional Growth Fund' public competition.

Based on KRW 35 billion (USD 26.25 million) contributed by the government's Fund of Funds (Mother Fund), HD Hyundai Heavy Industries, NH Nonghyup Bank, BNK Kyongnam Bank, Ulsan National Institute of Science and Technology (UNIST), and Korea Zinc jointly contributed capital to create the fund totaling KRW 50 billion (USD 37.5 million).

Building upon this parent fund, the city plans to establish sub-funds totaling over KRW 63 billion (USD 47.25 million) to make phased investments across key sectors: Local startup small business owners, Early-stage startups, Innovative technologies linked to building a startup city, and Regional flagship industries including shipbuilding, automotive, secondary batteries, energy, and fine chemicals

The city plans to select sub-fund managers through Korea Venture Investment Corp. (KVIC), the operating agency, and begin executing actual investments within the year.

Meanwhile, Ulsan Metropolitan City held a launch ceremony for the 'Ulsan Future Growth Fund' on the 1st at Oundang Hall (4th Floor) of the Ulsan Startup Hub in the Jongha Innovation Center, attended by Mayor Sang-wook Kim as well as representatives from enterprises, financial institutions, and research/educational organizations.

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Source Text


Source: Newsis (September 01, 2026)

** This article was translated from Korean.