Ulsan, Successfully Developed Local Key Industries... Secures 2.2 Billion KRW National Budget Financial Privileges

Evaluation of Regional Specialized Industry Promotion Project 'Top Excellence · Excellence'

This Year's Plan 'S Grade'... 2020 Performance 'A Grade'

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan has received favorable evaluations for its performance in fostering regional key industries and will receive 2.2 billion KRW in national funding benefits.

Ulsan City and Ulsan Technopark announced on the 7th that they secured financial privileges of 2.2 billion KRW in national funds by receiving the highest grade (S grade) for the ‘Regional Specialized Industry Development Project’ plan (2021) and an excellent grade (A grade) for its performance (2020) evaluation.

The ‘Regional Specialized Industry Development Project’ is a ‘Small and Medium Enterprise Development Project’ promoted by the Ministry of SMEs and Startups targeting non-capital regions to achieve balanced regional development and revitalize the regional economy. Budget support is provided differentially each year through plan establishment and performance evaluation.

In the ‘Regional Specialized Industry Development Project Plan (2021)’, evaluations were conducted on alignment with major policies, feasibility of restructuring key industries, challenge level and appropriateness of performance goals, and adequacy of budget investment plans.

Ulsan City and Ulsan Technopark received high evaluations for the feasibility of restructuring key industries to promote regional New Deal and activate regulatory free zones, the challenge level of performance goals, and data-driven industry development and corporate growth strategy establishment.

In the ‘Regional Specialized Industry Development Project Performance (2020)’, evaluations were made on project performance for fostering regional key industries and SME growth, management efforts, and best practices.

Ulsan City and Ulsan Technopark were recognized as exemplary cases for their efforts in building, operating, and disseminating a data platform on regional economy, industry, companies, and project performance, as well as institutionalization efforts to maximize the effects of regional project policies.

In terms of project performance, after setting challenging goals, they exceeded targets with 112% of new employment and 125% of commercialization sales compared to goals through efficient project management.

Outstanding local companies were also discovered, such as ‘Dongyang Sanjeon’, which expanded sales based on securing high-safety distribution board technology; ‘HLB’, which succeeded in domestic production of lifeboats for ultra-low temperature environments; and ‘Yeonggwang Workshop’, which expanded global sales channels for eco-friendly shipbuilding equipment.

This content was produced with the assistance of AI translation services.