Korea is offering financial incentives to encourage companies to bring production facilities back from overseas. The measures include corporate investment subsidies, extended tax discounts and tax credits for R&D.
Domestic demand must be expanded through deregulation and reshoring.
The U.S. must go beyond the legislation and budget spending to shift its economic paradigm and ecosystem.
The U.S. must see South Korea as a partner, not a competitor, and aggressively collaborate with the country in chip production.
A total of 26 companies relocated their production facilities from overseas to Korea last year, according to the Ministry of Trade, Industry and Energy.
Covid-19 reminded us of the importance of the manufacturing sector. It’s been proven that we can produce masks, testing kits and vaccines on time...
Covid-19 reminded us of the importance of the manufacturing sector. It’s been proven that we can produce masks, testing kits and vaccines on time when we have minimum manufacturing facilities...
Korea JoongAng Daily Sitemap