'Ulsan Takes Its First Step Toward Becoming a Global Startup City... Seeking 57 Promising Startups'

Startup Applications Open Until July 7 Up to 400 Million Won in Funding per Company

Ulsan City has begun full-scale efforts to foster promising startups, aiming to become one of the world’s top 100 startup cities by 2030.

On June 22, Ulsan City announced that it is accepting applications for companies wishing to participate in the "2026 Startup City Development Project" until July 7. The project is designed to discover and support startups that will drive innovation in the region’s core industries.

This project follows the government’s Startup City Development Project announced in April and aims both to support the growth and settlement of local startups and to attract outstanding companies to relocate to Ulsan.

The aspect that Ulsan City is focusing on most in this initiative is building an industrial innovation model based on manufacturing artificial intelligence.

The strategy is to integrate innovative technologies from startups into key local industries—such as automotive, shipbuilding, and petrochemicals—pursuing both proof-of-concept and commercialization simultaneously.

To this end, Ulsan City plans to concentrate its administrative capabilities on connecting on-site needs of leading local companies, including Hyundai Motor Company, HD Hyundai Heavy Industries, SK Energy, and S-OIL, with the new technologies developed by startups.

The project will be led by the Ulsan Center for Creative Economy & Innovation, with a task force comprising UNIST, local anchor companies, and others.

In addition, the city intends to support the entire growth process of startups by linking business support, research and development (R&D), and investment attraction with government startup support programs.

The recruitment is divided into two main categories.

First, there is the "Investment-linked Startup Package," targeting early-stage and growth-stage companies with investment experience, and the "Regional Startup Package," which supports companies that are growing in Ulsan or planning to relocate to the region.

The selection quota is a total of 57 companies: 28 K-Startup companies selected through a nationwide public application process and 29 companies independently chosen by Ulsan City.

Selected companies will receive up to 400 million won in business development funding. The agreement period will last for about eight months, from August this year to March next year.

In particular, Ulsan City plans to grant extra evaluation points to companies in the future mobility, eco-friendly and energy, and AI sectors in order to secure future growth engines.

This reflects Ulsan City’s strategy to accelerate industrial transformation by combining digital technology with existing manufacturing competitiveness.

Indeed, major cities at home and abroad are now competing to establish innovative models that merge the manufacturing sector with the startup ecosystem. Ulsan also envisions creating a differentiated startup ecosystem by leveraging its abundant industrial infrastructure and strong demand from major corporations.

An Ulsan City official said, "We will actively discover promising startups that can connect our core industries with new technologies and lay the foundation for Ulsan to become a global startup city based on manufacturing AI," adding, "Companies interested in participating should thoroughly review the announcement and apply with plenty of time."

Applications can be submitted through K-Startup, the government’s integrated startup support platform.

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