The Ulsan Free Economic Zone Authority building [Ulsan Free Economic Zone Authority]
The Ulsan Free Economic Zone Authority building [Ulsan Free Economic Zone Authority]

The Ulsan Free Economic Zone Authority has received an "excellent" (A) rating for the second consecutive year in the Ministry of Trade, Industry and Energy's 2025 Free Economic Zone Performance Evaluation.

The evaluation assessed last year's operations of all nine free economic zone authorities nationwide across three areas: management, project performance and future-oriented ecosystem development.

The Ulsan authority earned high marks for establishing a long-term development strategy — the "Ulsan Free Economic Zone (UFEZ) Development Plan" — that reflects national and local government policy, presenting five strategic goals and 23 action items.

Evaluators also recognized the authority's growth potential for linking development projects, including the Newon City construction project within the KTX Ulsan Station complex special district, to regional transportation hubs. The Newon City project drew additional praise for proposing a self-sufficient urban model that integrates residential, employment, education and cultural functions.

In management, the authority stood out for maintaining a dedicated regulatory innovation task force and a joint regulatory free zone promotion team, as well as for identifying an AI-based blood cancer diagnosis and treatment project as a candidate for regulatory sandbox designation.

"Building on this second consecutive excellent rating, we will redouble our efforts to deliver tangible results that citizens and businesses can feel," said Lee Gyeong-sik, head of the Ulsan Free Economic Zone Authority.


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