Gyeongju Mayor Ju Nak-young: "Korea Gas Corporation Must Be Integrated into Ulsan"

[Financial News Ulsan = Reporter Choi Su-sang] Gyeongju Mayor Ju Nak-young is drawing attention for stating his intention to lend his support to attracting the tentatively named 'Energy Resources Corporation,' formed by the merger of Korea National Oil Corporation (KNOC) and Korea Gas Corporation (KOGAS), to Ulsan Metropolitan City.
Currently, Korea National Oil Corporation (KNOC) is headquartered in Ulsan Metropolitan City and Korea Gas Corporation (KOGAS) is headquartered in Daegu, but the government is pushing for the merger of these two organizations. Both cities have entered the competition to host the merged corporation.
Meanwhile, Ulsan Metropolitan City announced that Gyeongju Mayor Ju Nak-young visited Ulsan Metropolitan City Hall on the 17th and met with Ulsan Metropolitan City Mayor Kim Sang-wook, expressing agreement on attracting the tentatively named Energy Resources Corporation to Ulsan Metropolitan City and agreeing to strengthen linkage and cooperation in the energy sector.
According to Ulsan Metropolitan City, the two mayors agreed that the location of the 'Energy Resources Corporation,' which will be launched following the merger of Korea National Oil Corporation (KNOC) and Korea Gas Corporation (KOGAS), should be determined in terms of energy security and national interest, and that Ulsan Metropolitan City should be fostered as a Northeast Asian energy hub.
Gyeongju Mayor Ju Nak-young reportedly stated that attracting the Energy Resources Corporation to Ulsan Metropolitan City is significant not only for the efficient management of national energy resources and the strengthening of international competitiveness, but also in terms of linking the East Coast energy industry and fostering mutual growth between regions.
Ulsan Metropolitan City explained that the two mayors also agreed on the need to strengthen mutual linkages and cooperation based on the common foundation of nuclear power and the energy industry.
Gyeongju is home to the headquarters of Korea Hydro & Nuclear Power (KHNP) and possesses an industrial base related to nuclear power. Ulsan Metropolitan City is a city where the production, stockpiling, storage, and logistics infrastructure for key national energy resources, such as oil and gas, are concentrated. Therefore, both cities are expected to create synergy through mutual linkages in the energy sector.
Ulsan Metropolitan City Mayor Kim Sang-wook said, "I am grateful that Gyeongju City, following Busan and Gyeongnam, has joined forces with the cause of attracting the Energy Resources Corporation to Ulsan Metropolitan City," adding, "We will continue to communicate to ensure that Gyeongju's nuclear power infrastructure and Ulsan Metropolitan City's energy industry ecosystem can create synergy together."


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