(Ulsan=Yonhap News) Reporter Kim Geun-ju = The city of Ulsan announced on the 12th that it will swiftly re-launch the delayed Yulhyun district urban development project through sole implementation by the Ulsan Urban Corporation.
The Yulhyun district urban development project aims to create a city-rural complex Happy Town in the area of Yul-ri, Cheongryang-eup, Ulju County, including the relocation of the agricultural products wholesale market.
This project was confirmed in August 2020 through an agreement between the city of Ulsan, Ulju County, the Korea Land and Housing Corporation (LH), and the Ulsan Urban Corporation.
To expedite the project, the city has been pushing forward administrative procedures such as proposing the removal of the development restriction zone (GB) and designating the urban development zone in September 2022, requesting the designation of the urban development zone in September 2023, and applying for a change in the urban management plan in January of last year, in parallel with the preliminary feasibility study.
However, the progress of the project by the Korea Land and Housing Corporation (LH) was hindered following the announcement of the preliminary feasibility study results by the Ministry of Economy and Finance in September of last year.
Therefore, the city of Ulsan has decided to change the implementation method to sole execution by the Ulsan Urban Corporation and re-launch the project.
If the financial viability of the project is sufficiently secured, the city plans to directly implement the relocation of the agricultural products wholesale market.
Lee Jae-gon, the city's Urban Affairs Director, said, "The Yulhyun district urban development project holds significant importance in various aspects, including strengthening administrative functions around the Ulju County Office, creating residential areas in the rear, and establishing an industrial base for the distribution, processing, and logistics of agricultural products," and added, "We will do our best to ensure that the project can be swiftly promoted considering its importance."