About the hardware circuit, please refer the recommendation described in: How To Sucessfully Program a Custom made Kinetis Microcontroller Board.
About the setting of ULINK2, please refer below image:
under “Cortex-M Target Driver Setup”, change the “Connect” drop down box to “under Reset” and “Reset” drop down box to “HW RESET”. Hit OK to save the settings.

Then in Keil, click on Flash->Erase.

And then on Flash->Download.

Best Regards,
Robin
-----------------------------------------------------------------------------------------------------------------------
Note: If this post answers your question, please click the Correct Answer button. Thank you!
-----------------------------------------------------------------------------------------------------------------------