Record-Breaking Performance... Ulsan City Receives 'Presidential Citation' for Foreign Investment Attraction

Recognition for Meritorious Service at This Year’s ‘Foreign Companies Day’

Ulsan City received the Presidential Citation for its contribution to attracting foreign investment.

On the 21st at 5 p.m., Ulsan City announced that it would receive the 'Presidential Citation' in the local government category for outstanding achievement in attracting foreign investment at the '2023 Foreign Companies Day Ceremony' held at the Grand Intercontinental Parnas Hotel in Seoul, hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Foreign Enterprises Association.

Ulsan City was highly evaluated for △attracting the largest-ever foreign direct investment △promoting pro-business policies and establishing a regional investment foundation △strategic Ulsan sales marketing △strengthening cooperation with foreign-invested companies and follow-up management.

As a major foreign investment attraction status, foreign direct investment (FDI) reported for Ulsan in 2022 reached 3.329 billion dollars, marking the highest record since the foreign investment reporting survey began in 1962.

S-OIL led foreign investment with the Shahin Project amounting to 3.111 billion dollars, followed by SSNC with 30 million dollars and STAC with 30 million dollars.

An official from Ulsan City said, “Our top priority is to attract many companies to create good jobs and secure future livelihoods for citizens,” adding, “We will create an environment favorable for investment for sustainable development and build ‘Corporate City Ulsan.’”

In the first half of this year, Ulsan City conducted global sales activities by directly visiting overseas locations such as the Middle East following the groundbreaking ceremony of the S-OIL Shahin Project factory.

Recently, Ulsan City has been boldly promoting a pro-business and investment-friendly environment by leading initiatives such as the enactment of the Distributed Energy Activation Act, dispatching public officials to company sites, and lifting development restrictions (Greenbelt).

Additionally, on November 7, Ulsan City participated in the 'Invest Korea Summit 2023' held at BEXCO in Busan, operating an exhibition hall in the secondary battery sector, and has set a policy to carry out various activities to attract foreign investment.

Ulsan City Hall.

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