Ulsan City Attracts 12 Tech-Small Giant Companies... Research and Development Support Agreement

‘Herbification’ Project, Prioritizing Employment for Ulsan Citizens

Ulsan City has achieved success in attracting 12 technology-strong small and medium-sized enterprises (SMEs).

On the 22nd at 2 p.m., Ulsan City announced that it would sign a "Business Agreement for Attracting Technology-Strong SMEs and Supporting Research and Development" in the main building's 2nd-floor conference room.

About 20 people attended the agreement ceremony, including Ahn Hyo-dae, Deputy Mayor for Economic Affairs of Ulsan, Kwon Soo-yong, Director of Ulsan Technopark, and representatives from companies such as Sewon Tech Co., Ltd., Daeguk Jeonggong Co., Ltd., Duson Chemical Co., Ltd., Spulse M-Tech Co., Ltd., AM Tree Co., Ltd., Wavetree Co., Ltd., Isu Partners, KMCP Co., Ltd., Kobat Co., Ltd., Qfire Co., Ltd., PI Tech Co., Ltd., and Haesung, which have relocated or are scheduled to relocate to Ulsan this year.

This business agreement was prepared for the Technology-Strong SME Hub project. The partner companies plan to create quality jobs centered on 4th Industrial Revolution technologies and prioritize employing Ulsan citizens. They also agreed to improve employee working environment facilities, invest in them, and contract with local Ulsan companies when executing subsidies to enhance employee welfare and revitalize the local economy.

Ulsan City and Ulsan Technopark will also support the partner companies with R&D funds to help them settle and grow stably in Ulsan. The R&D funds will be provided after evaluating submitted research projects, ranging from a minimum of 60 million KRW to a maximum of 80 million KRW.

After signing the business agreement, a meeting will be held under the chairmanship of Kwon Soo-yong, Director of Ulsan Technopark, to listen to the difficulties and opinions of technology-strong SMEs for their attraction and development.

Ahn Hyo-dae, Deputy Mayor for Economic Affairs of Ulsan City, said, "We expect this to be an important opportunity for Ulsan to leap forward as a hub for technology-strong SMEs," adding, "Ulsan City will do its best to create a business-friendly environment by promoting comprehensive investment attraction policies, including support for research and development funds for technology-strong SMEs, site support, strategic investment attraction, and improvement of unnecessary regulations."

The "Technology-Strong SME Hub Project" is a project aimed at further advancing Ulsan's core industries and fostering future new industries. It has been underway since 2019 and aims to attract 500 technology-strong SMEs and create 10,000 jobs over a total of 10 years until 2028.

Ulsan City plans to continue focusing on attracting technology-strong SMEs with technological capabilities in various fields such as regional core industries, future new industries, low-carbon green industries, and knowledge service industries through continuous support.

Ulsan City Hall.

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