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According to Yonhap News,
(ULSAN=Yonhap News) The Ulsan Free Trae Zone (UFTZ) opened on November 12, the 7th free trade zone in Korea.
The UFTZ, which is built on 819,000㎡ of land in Ulju County, is comprised private factory site zone, apartment-type standard factory zone, corporate support facilities and amenities.
The construction of the UFTZ took seven years with KRW 243.3 billion of project cost.
The UFTZ is closely located to the Ulsan Mipo Industrial Complex, Onsan Industrial Complex and Ulsan New Port, guaranteeing free manufacturing, logistics, distribution and trade activities. Tenant companies are limited to foreign-invested companies or domestics companies that focus on exports.
A total of 31 companies have moved to the private factory site zone and a total of five companies have moved to the standard factory zone.
The UFTZ is the 7th free trade zone following Masan, Gunsan, Daebul, Donghae, Yulchon and Gimje.
hkm@yna.co.kr
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Source: Yonhap News (Nov. 12, 2015)
** This article was translated from the Korean.