Ulsan City Seeks 'New Growth Engine' Service Industry

'Initiation of Ulsan-type Service Industry Development Plan Project'

Kick-off Meeting Held on the 25th... Scheduled for Completion by the End of This Year

Ulsan City has embarked on a search for new growth engines to foster the service industry that reflects the latest industrial trends and Ulsan's economic and industrial characteristics.

On the 25th at 2 p.m., Ulsan City announced that it will hold the "Ulsan-type Service Industry Development Plan Establishment Project Kick-off Meeting" in the international conference room on the 4th floor of the city hall main building.

The meeting will be attended by about 20 people, including Ulsan city officials, youth committee members, and experts, and will proceed with reports on the project promotion plan, suggestions of various opinions to be reflected in the promotion process, Q&A, and discussions.

This project is being carried out by the Korea Institute for Industrial Economics and Trade, a national research institute specializing in the service industry, and is scheduled to be completed in November after a mid-term report in June and a final report in October.

The main contents of the project include analyzing the current status of domestic and international service industries and related policy trends, analyzing the status of Ulsan's service industry by sector, and presenting policy directions for fostering Ulsan-type service industries to expand youth and women’s employment and increase women's economic participation rates.

Through this project, Ulsan City plans to foster service industries with high employment absorption capacity and revitalize the local economy, creating a virtuous cycle of consumption and production, and further diversifying and flexibilizing the hardware-centered industrial structure to enhance urban competitiveness.

An official from Ulsan City said, “It is essential to prepare comprehensive and systematic development plans to secure the service industry sector, which has higher added value and employment creation effects compared to other industries, as Ulsan’s future growth engine,” adding, “We will focus on strengthening the analysis of demand and regional competitiveness of Ulsan’s service industry to discover a Ulsan-type service industry model.”

Ulsan City Hall.

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