Ulsan Sets Growth Engines in Motion Under the Five Mega-Regions and Three Special Self-Governing Provinces Strategy; Major Companies Join Strategic Effort

【Financial News, Ulsan—Reporter Choi Su-sang】Efforts have begun to determine how to successfully establish four growth engines for the Southeast Region of Korea in Ulsan under the government's Five Mega-Regions and Three Special Self-Governing Provinces Strategy.
Ulsan Metropolitan City held a meeting on a strategy to foster growth engines under the Five Mega-Regions and Three Special Self-Governing Provinces Strategy in the briefing room on the seventh floor of Ulsan Metropolitan City Hall on the 18th.
The meeting was attended by 18 people, including Ulsan Metropolitan City Deputy Mayor for Economic Affairs Shin Min-sik and public affairs and investment officials from major companies such as Hyundai Motor, HD Hyundai Heavy Industries, Samsung SDI, Korea Zinc and HS Hyosung Energy Solution Korea.
The government previously selected and announced four key growth engines for the Southeast Region of Korea—advanced shipbuilding and shipping; aerospace and defense; innovative manufacturing for future mobility; and next-generation nuclear power and energy—to develop the region into a manufacturing AI hub with an unassailable technological lead, built on its world-class manufacturing capabilities.
Participants discussed strategies to identify companies that can lead the four key growth engines and attract investment.
They also began discussing ways to secure the government's seven-part policy support package, centered on investment incentives worth 700 billion won. In addition to investment support, the package includes designating growth-engine mega-special zones and developing the MAX Cluster. Because the budget is limited, the support will be allocated on a first-come, first-served basis.
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