Additional Opportunity Development Special Zones in Busan and Ulsan... Over 20 Companies to Invest 8.6 Trillion Won

Expansion in Area Focused on Data Centers, Shipbuilding, and Auto Parts
Ulsan Becomes First to Exceed Its Ceiling

The Ministry of Trade, Industry and Energy announced that on the 5th it will additionally designate and adjust Opportunity Development Special Zones in Busan Metropolitan City and Ulsan Metropolitan City and officially notify these changes. Opportunity Development Special Zones are areas that provide a package of support measures, including tax and fiscal incentives, improvement of living conditions, and human resources development, in order to attract large-scale corporate investment to non-capital regions.

With this designation, Busan has newly secured one special zone in Gangseo-gu, with an area of 371,000 pyeong (approximately 1.22 million square meters), where data centers and research and development centers are expected to be established. In Ulsan, two new special zones, totaling 224,000 pyeong (approximately 740,000 square meters), have been designated in Dong-gu and Buk-gu, where shipbuilding and automobile parts companies plan to invest. In addition, the area of the three existing special zones has been expanded by 242,000 pyeong (approximately 800,000 square meters) in line with additional investment attraction.

Busan and Ulsan Opportunity Development Special Zone Designation Status. Ministry of Trade, Industry and Energy.

The Ministry of Trade, Industry and Energy explained that around 20 companies are planning new investments totaling approximately 8.6 trillion won in the Busan and Ulsan Opportunity Development Special Zones that have been newly designated or adjusted this time. The ministry plans to strengthen consultations with local governments and companies to ensure that the planned investments can be implemented in a timely manner.

Applications for Opportunity Development Special Zones can be made within the maximum area limit set for each metropolitan city or province, but this upper limit can be exceeded if foreign investment is included. In the case of Ulsan, the newly designated and adjusted area of 466,000 pyeong (approximately 1.54 million square meters) has been added to the previously designated 1.27 million pyeong (approximately 4.2 million square meters), bringing the total to 1.736 million pyeong (approximately 5.74 million square meters). As a result, Ulsan has become the first among the 14 non-capital-area metropolitan cities and provinces to exceed its area ceiling.

The government stated that, including this round of designations, the total number of Opportunity Development Special Zones nationwide has increased to 55, and that investments totaling approximately 33 trillion won are currently under way. In addition, to further stimulate regional investment, the government will continue to expand incentives and, starting in 2026, will inject 4.2 billion won into a dedicated research and development program to support technology development by companies investing in the special zones, while also providing 4.17 billion won to foster customized human resources that meet corporate demand.

This content was produced with the assistance of AI translation services.