Haeoreum Alliance: Gyeongju-Ulsan-Pohang 1.83 Million Population Megacity Strategy

Haeoreum Alliance is a wide-area economic cooperation body of 1.83 million population created by three cities: Gyeongju (250,000), Ulsan (1.09 million), and Pohang (490,000). At the second half 2025 regular meeting, they confirmed promotion of 43 joint cooperation projects, with 'Haeoreum Alliance Global Hydrogen Megacity Development' being most notable.

This strategy exactly matches 'cluster economy' emphasized in Savills' Asia-Pacific report. Individual cities would lag in global competition, but synergies explode when united. Combining Ulsan's petrochemicals and automotive, Pohang's steel and new materials, and Gyeongju's nuclear and tourism creates a globally unprecedented complex industrial cluster.

Haeoreum Alliance's meaning for industrial real estate has three aspects: First, commuting zones practically integrate. Enhanced wide-area transportation networks between Ulsan-Gyeongju-Pohang increase labor mobility. Representative examples include 4 direct city bus routes from Gyeongju Oedong Industrial Complex to Ulsan with daily commutes of 4,066 people.

Second, supply chains integrate. Gyeongju-based companies gain easier access to Hyundai Motor Ulsan Plant's Tier 1-3 supply chains and POSCO Pohang Steel Works' materials supply chains. The hydrogen megacity project builds hydrogen production (Ulsan petrochemicals) → hydrogen transport (pipelines) → hydrogen utilization (mobility, power generation) value chains across three cities.

Third, infrastructure investments concentrate. Joint investments in wide-area roads, railways, ports, and digital infrastructure simultaneously improve individual city accessibility.

From company perspectives planning Gyeongju factories, Haeoreum Alliance is a decisive location advantage. You can enjoy Gyeongju's low land costs and tax benefits while accessing Ulsan-Pohang's major corporate supply chains and 1.83 million population labor market.