ULSAN < invest Korea

Ulsan City announced last week that it will hold diverse foreign investment promotion and marketing activities in the second half of the year as the U.S. economic indicators improve and the Chinese and European economies recover.

The city sent a trade mission to Germany and Netherlands in April to hold individual investment consultations with 11 companies, including BASF and Vopak, to find potential investors in automobile, logistics and IT industries.

In September, Ulsan and the Administration Agency of Ulsan Free Trade Zone sent an investment promotion team to Tokyo and Fukuoka, Japan to identify investors for the automobile and parts and materials industries.

In addition to customized investment promotional activities in Hong Kong and Qingdao in October and Vancouver, Toronto and Washington in November, the city plans to promote the Ulsan Free Trade Zone and the Northeast Asia Oil Hub Project.

Ulsan will also invite foreign investors to the city to participate in an investment information session and see Ulsan’s differentiated advantages as an investment destination.

As a part of the Foreign Investment Week (FIW 2013), which will be held by the Ministry of Trade, Industry and Energy (MOTIE) and Korea Trade-Investment Promotion Agency (KOTRA) on October 31, about 50 foreign investors will visit Ulsan to encourage them to invest in the Ulsan Free Trade Zone.

At the end of November, it will also invite about 20 Japanese companies to look around the Ulsan Free Trade Zone, Hyundai Motors and Hyundai Heavy Industries, and attend an investment information session.

Ulsan participated in a foreign investment promotion roadshow hosted by MOTIE on October 2 and plans to attend the FIW 2013 on November 30 and the Korea Regional Innovation Convention & Exposition on November 27.

It will also aims to draw interests from foreign CEOs through advertisements on the fDi Magazine, which has a diverse spectrum of readers. Ulsan will also hold various promotional activities with investment promotion videos, renewed promotional booklets and more.

In addition, through a cooperative channel with MOTIE, KOTRA, Korea National Oil Corporation and the Administration Agency of Ulsan Free Trade Zone, the city will attract foreign direct investment in Ulsan with various administrative and financial supports.

** This article was translated from the Korean.