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Under Korea’s five-year economic development plans of the 1970’s, Ulsan concentrated its efforts on
fostering the development of heavy and chemical industry. Located in the heart of East Asia and
southeastern Korea, Ulsan was designated
as a “special industrial district” in
1962 and subsequently flourished as an
industrial city. Recognized for its contribution
to the growth and development
of the Korean economy, Ulsan was
raised to the status of “metropolitan
city” in 1997.
Accounting for 12.8% of Korea’s industrial output and
13.7% of its foreign trade, Ulsan has been the industrial
capital of Korea for nearly 40 years. Over the years, the
city has built the necessary facilities and infrastructure to
promote sustained industrial activity.
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Covering 1,056 square kilometers and populated by
one million, Ulsan is Korea’s seventh largest city. The
area boasts fertile land formed by Taewha River, numerous
harbors spanning across the gulf of Ulsan including
Ulsan Harbor, Onsan Harbor and Bangojin Harbor, and 66
million square meters of industrial sites built on mountainous
land.
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Based on these industry-friendly conditions, major
domestic industrial complexes such as Hyundai Heavy
Industries, Hyundai Motor Company and those of related
industries have prospered. In addition, 89 multinational companies from 19 different
countries including Dupont
of the US, BASF of Germany,
Rhodia of France and Asahi
of Japan have established
large-scale operations in
Ulsan, further elevating the
status of Ulsan to a global
industrial city.
Having led the growth of the
Korean economy in the 20th century,
Ulsan is now poised to take off as a
major global industrial city by promoting
advanced and technology-intensive
industry, while taking full advantage
of its deep-water harbor facilities,
neighboring nuclear power facilities,
well-developed material handling systems
for land and sea, as well as the
nearby Pohang Iron and Steel for a
readily available supply of steel. |
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