Ulsan and Mipo National Industrial Complex Expansion Site Designated as Land Transaction Permission Zone

Land Transactions Restricted for Two Years Until June 4, 2026

The area designated for the expansion of the Ulsan-Mipo National Industrial Complex will be newly designated as a land transaction permission zone.

The Ulsan city government announced on the 30th that a total of 0.14㎢, including 0.06㎢ in Ilsan-dong, Dong-gu, and 0.08㎢ in Jinjang-dong and Myeongchon-dong, Buk-gu, will be designated as a land transaction permission zone for two years from June 5, 2024, to June 4, 2026.

Accordingly, during the designated period, any land transactions exceeding a certain size in this area will require approval from the head of the relevant district office, and only end-users will be allowed to acquire land.

An Ulsan city official stated, "Due to concerns over rising land prices and speculative transactions driven by expectations for the Ulsan-Mipo National Industrial Complex expansion project, we have decided to designate the area as a land transaction permission zone."

The Ulsan-Mipo National Industrial Complex expansion project aims to incorporate idle land, which has lost its function as urban planning facilities (such as amusement parks and green spaces), into the national industrial complex to ensure the continuous growth and development of the Ulsan-Mipo National Industrial Complex.

Implemented by Ulsan Urban Corporation, the area in Ilsan-dong, Dong-gu will be developed as a hub for shipbuilding, marine, and smart ships, while the area in Jinjang-dong, Buk-gu will be established as a base for attracting future automobile-related companies and as a future vehicle hub, with completion targeted for 2029.

Ulsan City will designate the expansion site of Ulsan-Mipo National Industrial Complex as a new land transaction permission zone.

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