September 23, 2026 [Tank Storage Magazine]- The Ulsan Metropolitan Government (UMG) and Central Terminal Korea (CTK) have partnered on a liquid cargo storage facility that will be built in the Ulsan Mipo National Industrial Complex, South Korea, supporting the region’s petrochemical storage infrastructure at the Port of Ulsan. Ulsan Mayor Kim Sang-wook and Kim Chan-soo, CEO of CTK, signed the agreement at the mayor’s office in city hall.

Over two phases from October 2026-December 2027, CTK will spend ₩120 billion (€77 million) on 23 liquid cargo storage tanks with a combined capacity of 103,200 kilolitres (kL). Phase one will run between October 2026-June 2027 and will deliver 28,000 kL of capacity over seven tanks; the second phase, running from July-December 2027, will add 16 tanks with a combined capacity of 75,200 kL.

Mayor of Ulsan Kim Sang-wook comments: ‘Reinvestment by a logistics company that has grown alongside Ulsan’s industries is an important step toward improving the logistics stability of the region’s petrochemical industry. We will spare no administrative support so that the company’s investment can proceed smoothly.’