Ulsan City's “National Small Giant Company Relocation Project,” aimed at revitalizing the local economy, is showing tangible results.

The city announced on the 10th that, since launching the initiative in 2019 in collaboration with Ulsan Technopark, it has successfully attracted over 50 technology-driven SMEs (small but strong enterprises), including 11 new companies this year.

Companies currently planning to relocate to Ulsan in 2025 include: New Horizon, Dpla, Marcus, IMD, SG Industrial Systems, MD Soft, MUtron, UMED, Eunyeon Tech, Kabi Lab, and KMOTech. Last year, 13 companies such as Sewon Tech, Daeguk Precision, Duson Chemical, AM Tree, Wave Tree, ISU Partners, KMCP, Cobet, QFire, Pitech, and Haesung relocated to the city.

Ulsan City and Ulsan Technopark have set a goal to attract 500 innovative small enterprises and create 10,000 new jobs by 2028. Under the city’s investment support ordinance, companies relocating to Ulsan can receive R&D funding ranging from 60 million to 80 million KRW. The city is particularly focused on attracting tech-based SMEs in key local industries, future high-tech sectors, low-carbon green industries, and knowledge-based service industries. Relocated companies have pledged to create quality jobs based on Fourth Industrial Revolution technologies and prioritize hiring local Ulsan citizens. They also commit to improving employee welfare by investing in better working conditions and contracting with local businesses when using project budgets — thereby contributing to both employee satisfaction and regional economic growth.

Ahn Hyo-dae, Deputy Mayor for Economic Affairs, stated, “We will provide strategic support, including investment promotion and overseas market development, to help these small giants in Ulsan grow into unicorn companies valued over 1 trillion KRW.”