Ulsan Southern Region Gains Momentum from New Metropolitan Railway, “Ulsan Hoiyagang River State” Draws Attention

48.8km Metropolitan Railway Linking Ulsan, Yangsan, and Busan Passes Feasibility Study
One-Hour Living Zone Realized
AI Data Center and Urban Development Drive Ulsan Real Estate Market Revival

With the approval of the preliminary feasibility study for the Busan-Ulsan-Gyeongnam (BUULGYEONG) metropolitan railway project, the expansion of the transportation network centered on southern Ulsan is becoming a reality. This development is expected to have a significant impact on the overall economy of Ulsan, including an increase in the resident population, accelerated urban development, and revitalization of commercial districts.

The metropolitan railway construction project will create a new 48.8-kilometer line connecting Nopo Station in Busan to KTX Ulsan Station, with a project budget totaling 2.5475 trillion won. As the first metropolitan railway outside the Seoul metropolitan area, it marks the first step in integrating BUULGYEONG into a single living zone and serves as the inaugural core project for the BUULGYEONG mega-regional economic alliance.

Upon completion, the railway will reduce travel time to about 30 minutes, realizing a one-hour living zone across the southeastern region. The metropolitan railway is also expected to inject new vitality into the local economy by creating approximately 50,000 jobs and driving urban regeneration and commercial revitalization centered around station areas, in conjunction with the KTX Ulsan Station Complex Special District, Seonbawi Public Housing District, and Ungchon New Town development projects.

In addition, SK Telecom and AWS are further elevating Ulsan’s status by investing 7 trillion won to establish the nation’s largest AI data center in the Mipo National Industrial Complex. Designated as the starting point of the “AI Highway,” Ulsan is poised to become a key hub in the southeastern region where advanced industries and residential environments grow together.

Amid rising expectations for these developments, “Ulsan Hoiyagang River State,” which is being built in the Ungchon Gokcheon District of Ulju County, is attracting attention from both end-users and investors.

“Ulsan Hoiyagang River State” is a large-scale private rental apartment complex consisting of 1,990 units (planned) in buildings ranging from two basement levels to 29 above-ground floors. The units are available in compact 59㎡ and 84㎡ types.

As these apartments are supplied as long-term general private rental housing, anyone over 19 years old can apply without a subscription savings account. After a stable 10-year lease, tenants may convert to ownership through a sale conversion. During the lease period, there are no acquisition, property holding, or capital gains taxes, and mandatory subscription to HUG’s lease deposit guarantee insurance ensures safety.

The location also offers excellent conditions. The Hoiyagang River flows on the east side of the complex, providing a pleasant residential environment. Residents can enjoy a comfortable and convenient daily life with nearby amenities such as Ungchon Sports Complex, Ungchon Administrative Welfare Center and Health Branch, and Gokcheon Public Market. The area is also home to Ungchon Elementary School, Ungchon Middle School, and Ulsan Beauty Arts High School, and boasts excellent access to the Okdong private education district, making it advantageous for families with children. Notably, the Okdong education district can be reached within 10 minutes by shuttle bus, further enhancing educational convenience.

Transportation accessibility is also outstanding. The complex is directly connected to the Ulsan-Hamyang Expressway via the Donghae Expressway’s Munsu IC and Ulju JC, and with the full opening of National Route 7, residents can reach Ulsan, Yangsan, and Busan within about 30 minutes. When the Busan-Yangsan-Ulsan metropolitan railway opens in 2029, both workplace proximity and public transportation convenience are expected to be further enhanced.

“Ulsan Hoiyagang River State” is being developed within a large-scale urban development site targeting a total of approximately 3,300 housing units and accommodating about 8,000 people in the Ulsan area. It is expected to contribute to the expansion of urban infrastructure, the creation of a pleasant residential environment, and the revitalization of the local economy.

The complex also offers the advantage of workplace proximity. It is close to Yongdang General Industrial Complex, GW General Industrial Complex, Namchang Industrial Complex, and the Petrochemical Complex. Ulsan City and Ulju County plan to expand the Ungchon area into a preferred residential location for industrial complex workers through the Gokcheon District urban development project. This is expected to further solidify residential demand in addition to expanding the city’s residential belt.

Meanwhile, the promotional center for “Ulsan Hoiyagang River State” is located near Samsan-dong in Nam-gu, Ulsan.

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