Ulsan City and Hyundai Motor Sign Joint Cooperation Agreement for 'Virtuous Cycle of Corporate and Regional Growth'

On the 1st at 3 p.m., Ulsan City held a 'Joint Cooperation Agreement Ceremony to Establish a Virtuous Cycle Structure Where Corporate Investment and Hiring Lead to Regional Growth' at Hyundai Motor Company's Ulsan Plant.

This agreement was prepared as a model of exemplary cooperation between Ulsan City and Hyundai Motor Company to expand investment by local companies in Ulsan and to spread the effects of job creation.

About 20 people attended the ceremony, including Kim Doo-gyeom, Mayor of Ulsan, Lee Dong-seok, CEO of Hyundai Motor Company, and five representatives of new technical employees who were hired by Hyundai Motor Company and relocated to Ulsan City.

According to the agreement, Hyundai Motor Company will actively foster a voluntary participation atmosphere so that its executives and employees can have their addresses in Ulsan and increase their hometown affection.

Ulsan City promised active administrative support for permits and approvals and administrative assistance for address changes of executives and employees to ensure that Hyundai Motor Company's investment leads to increased hiring and population growth in Ulsan.

(From the fifth person on the left) Kim Du-gyeom, Mayor of Ulsan, Lee Dong-seok, CEO of Hyundai Motor Company, and other participants of the agreement ceremony are taking a group commemorative photo.

The event began with a tour of the construction site of Hyundai Motor Company's new electric vehicle plant, scheduled to start construction in November.

Afterwards, Ulsan City presented a plaque of appreciation to Hyundai Motor Company for 'the construction of a new domestic plant in Ulsan for the first time in 29 years,' 'the hiring of 1,500 new employees by 2025,' and 'the implementation of unprecedented childbirth promotion policies.'

Following the plaque presentation, Ulsan City and Hyundai Motor Company signed a joint cooperation agreement for sustainable future growth of Ulsan and took time to hear the impressions of the new technical employees who relocated to Ulsan.

Mayor Kim Doo-gyeom said, “We expect that the large-scale corporate investment achieved with full support from Ulsan City will lead to job creation and revitalization of the local economy,” and added, “I will continue to do my best as Ulsan’s first sales representative to attract corporate investment.”

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