Ulsan Taehwagang Station to Be Developed as Hotel and Shopping Complex, Completion Targeted for 2033

[Financial News, Ulsan = Reporter Choi Soo-sang] Ulsan Taehwagang station is expected to emerge as a new hub for the city through the development of a multimodal transfer center.
Seo Nam-gyo, vice mayor for administrative affairs of Ulsan Metropolitan City, held a press conference on the afternoon of the 31st and unveiled details of the Taehwagang Station Multimodal Transfer Center project, which was included in the Ministry of Land, Infrastructure and Transport's Fourth Basic Plan for the Establishment of Transfer Centers and Multimodal Transfer Centers.
The Taehwagang Station Multimodal Transfer Center will include transfer facilities for convenient bus-to-rail connections, as well as a range of commercial spaces, cultural venues and lodging facilities that residents can use in their daily lives.
The project is aimed for completion in 2033, with a total budget of 830 billion won. Ten percent of the funding will come from national and city government support.
Ulsan Metropolitan City plans to complete administrative procedures by the second half of 2030 and begin construction in 2031, with the goal of significantly improving convenience for residents.
The project is a private-sector initiative that will be carried out with substantial private investment. Ulsan Metropolitan City said it will focus its administrative efforts on creating attractive business conditions so that leading companies nationwide can actively participate.

Seo Nam-gyo said, "Taehwagang station has excellent location conditions," and encouraged companies to make active investments.
A merchant in Samsan-dong said, "Since the opening of the Donghae Line and KTX-Eum, the number of users at Taehwagang station has increased sharply." He added, "If the number of trains such as KTX-Sancheon increases in the future, along with the opening of Ulsan Urban Railway Line 1 (tram) and the geographic advantage of being connected to Samsan-dong, Ulsan's largest commercial district, private investment could also be expected to generate sufficient profitability."
Meanwhile, the Metropolitan Transport Commission, under the Ministry of Land, Infrastructure and Transport, included the Ulsan Station Multimodal Transfer Center (ongoing) and the Sinbok Intersection Multimodal Transfer Center (under further review) in the Fourth Basic Plan for the Establishment of Transfer Centers and Multimodal Transfer Centers (2026-2030), along with the Taehwagang Station Multimodal Transfer Center.
[email protected] Choi Soo-sang Reporter