KTX Ulsan Station Area to Hold Investment Briefing for Hotel-Specialized Land

Ulsan Free Economic Zone Authority and Ulsan Urban Corporation Host

Investment Environment and Incentives for Companies Near Historic Sites Explained

Ulsan Free Economic Zone Authority and Ulsan City Corporation will hold an investment briefing session for the hotel-specialized site near KTX Ulsan Station at 5 p.m. on the 11th at the Westin Chosun Hotel in Seoul.

At this investment briefing, in addition to hotel business stakeholders, potential domestic and international investors such as securities firms, investment management companies, and legal advisory firms will be informed about the public offering method and guidelines for the site. Information will also be provided regarding the investment environment around Ulsan Station and incentives for domestic and international companies investing within the free economic zone.

The specialized site S1-2, which is the subject of this briefing, is located in Gyodong-ri, Samnam-eup, Ulju-gun, Ulsan, with a total area of 9,791 square meters. In collaboration with the adjacent Ulsan Exhibition and Convention Center (UECO), efforts have been underway since 2016 to attract investment in order to provide accommodation for exhibition and conference attendees and offer related services such as banquets and business meetings.

Recently, Ulsan City Corporation increased the floor area ratio from the previous 800% to 1,100% to enhance the site's utilization and attract more investor interest.

To maximize project efficiency, Ulsan Free Economic Zone Authority and Ulsan City Corporation are encouraging not only hotel development but also complex development that incorporates the developer's creative ideas.

Yoon Doohwan, President of Ulsan City Corporation, stated, "Since taking office, I have increased the floor area ratio of the specialized site through continuous attention and effort, thereby enhancing the project's viability," and added, "Starting with this investment briefing, we will work closely with Ulsan Free Economic Zone Authority to attract a hotel complex developer."

Lee Kyungsik, Commissioner of Ulsan Free Economic Zone Authority, said, "The KTX Ulsan Station area boasts excellent transportation accessibility and is expected to serve as an accommodation hub for the planned complex specialized district, business complex within the urban convergence special zone, and Yeongnam Alps mountain tourism," adding, "We will make every effort to attract developers by offering various incentives, including tax, financial, and administrative support."

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