Ulsan's Western Region Launches 'New Growth Engine'... Ulsan Free Economic Zone Authority Initiates Complex Special Zone Development

Groundbreaking Ceremony Held for 'Ulsan KTX Station Area Complex Special Zone' in the Ulsan Free Economic Zone
Advanced Urban Infrastructure Integrating Residential, Industrial, and Educational Functions
Leading the Way in Balanced Regional Development

The Ulsan Free Economic Zone Authority is set to launch the 'Complex Special Zone Development Project' to transform the western region of Ulsan into a new growth hub for South Korea.

On December 3 at 10:30 a.m., the Ulsan Free Economic Zone Authority will hold a groundbreaking ceremony for the 'Ulsan KTX Station Area Complex Special Zone (New On City)' in the Sinhwa-ri area of Samnam-eup, Ulju-gun.

Approximately 500 people, including Ulsan Mayor Kim Dukyum, local members of the National Assembly, city council members, and residents, will attend the event, which will proceed in the following order: national ceremony, introduction of guests, project progress report and congratulatory remarks, a commemorative performance, and a group photo session.

The Ulsan KTX Station Area Complex Special Zone was officially designated as a Free Economic Zone by the Ministry of Trade, Industry and Energy in August.

Expected Perspective View of Ulsan KTX Station Area Complex Special Zone.

With an investment of 1.06 trillion won on a site covering 1.53 million square meters, the area will be developed as a future-oriented self-sufficient city, integrating advanced industry clusters such as hydrogen and secondary batteries, along with international schools, medical and convenience facilities, and various urban functions.

About 28% of the total area (420,000 square meters) will be developed as an industrial complex. In addition, a residential complex for approximately 11,000 households, hydrogen and secondary battery research and development (R&D) centers, MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, and mixed-use commercial facilities will be established. Companies and other tenants are scheduled to begin moving in starting in 2029.

In particular, the Free Economic Zone designation will provide foreign-invested companies with benefits such as a 100% tax exemption for five years, a 100% acquisition tax exemption for fifteen years, special provisions for establishing foreign schools, and reductions in various charges. These incentives are expected to significantly contribute to attracting global companies and creating an international business environment.

Ulsan Complex City Development, the project operator for the 'Ulsan KTX Station Area Complex Special Zone (New On City),' secured funding for infrastructure and land development by signing a project financing agreement worth 550 billion won on October 16. Subsequently, on November 17, the company announced the sale of the A1 block of the residential land (57,716 square meters, 1,209 households).

Earlier, on October 31, the authority also signed a memorandum of understanding (MOU) with Seoul Robotics for the 'Establishment of Autonomous Driving Infrastructure in Ulsan "New On City".' This agreement aims to gradually build autonomous driving infrastructure and an AI-based intelligent mobility system (smart mobility system) within the district.

Through these efforts, the area around Ulsan KTX Station is expected to develop as an urban model equipped with advanced mobility technologies.

The 'Ulsan KTX Station Area Complex Special Zone (New On City)' is located at a key transportation hub connecting Ulsan KTX Station and the Gyeongbu Expressway Seoulsan Interchange (IC). It takes two hours and ten minutes to reach Suseo in Seoul by KTX, and just twenty minutes to reach Busan. With the planned connection of the Busan-Yangsan-Ulsan metropolitan railway, the area is expected to become the central hub of the Busan-Ulsan-Gyeongnam (BUULGYEONG) mega economic zone.

Ulsan City plans to use this development to revitalize the western region's economy and promote balanced regional development.

The attraction of advanced industries and an increase in the resident population, as well as the linkage with the metropolitan railway and industrial belt, are expected to maximize synergy with nearby industrial complexes. The western region is set to emerge as a future growth hub where urban functions and industrial innovation are combined.

The economic impact of this project is expected to reach 2.036 trillion won in production inducement, 835.3 billion won in value-added inducement, and 6,662 jobs created by 2030.

Mayor Kim Dukyum stated, "With this groundbreaking ceremony, the Ulsan KTX Station Area Complex Special Zone is expected to become the starting point for transforming the western region into a new engine of growth for Ulsan, leveraging the institutional advantages of the Free Economic Zone and the prime location near the station. We will continue to focus our administrative capacity on attracting investment, supporting businesses, and developing infrastructure to ensure the successful implementation of this project and to help the western region of Ulsan grow into a center of balanced regional development and global business."

Business Location Map.

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