57 firms to receive up to 400 million won each; applications open through July 7 on K-Startup platform
![Ulsan and three other designated startup cities — Daegu, Gwangju and Daejeon — held a strategy presentation for the Startup City Development Project at the Daegu Gyeongbuk Institute of Science and Technology (DGIST) on May 21. [Ulsan City]](https://wimg.heraldcorp.com/news/cms/2026/06/23/news-p.v1.20260623.6846603648e441f6bfb917c9cec2110e_P1.jpg)
Ulsan is accepting applications through July 7 for its 2026 Startup City Development Project, seeking promising early-stage companies to drive innovation in the city's core industries. The recruitment drive comes after the city unveiled a blueprint last month to break into the world's top 100 startup cities by 2030, leveraging its globally recognized manufacturing base.
The city plans to focus its efforts on building a manufacturing AI pilot model that connects the on-site needs of major local conglomerates — including Hyundai Motor Co., HD Hyundai Heavy Industries, SK Corp's energy unit and S-OIL — with cutting-edge technologies developed by startups, pursuing both demonstration and commercialization at the same time.
To that end, Ulsan will operate a steering body centered on the Ulsan Creative Economy Innovation Center, with participation from UNIST and leading local companies. The plan calls for organically linking government startup support tools — covering commercialization, research and development, and investment — to provide comprehensive growth support for participating startups.
The program offers two tracks: an investment-linked startup package for early- and growth-stage companies with a prior investment record, and a regional startup package supporting companies looking to grow or relocate within Ulsan.
A total of 57 companies will be selected — 28 through a nationwide open competition and 29 through autonomous selection by the local government. Each selected company will receive up to 400 million won in commercialization funding.
The program awards bonus points during the document screening stage to companies in Ulsan's three priority sectors: future mobility, eco-friendly energy and AI. The initiative aims to nurture technology-based startups capable of generating synergies with the city's key industries.
Applications are accepted online through K-Startup, the government's integrated startup support platform, at www.k-startup.go.kr. Ulsan plans to finalize selected companies in late July following document and presentation reviews, with agreements to be signed and project funds disbursed in early August.
The city also runs ongoing programs covering talent development, investment attraction and global market entry to foster a startup-friendly environment.
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