South Korea is struggling to lure companies with operations overseas back to the country despite expanded incentives aimed at helping local factories compete with China and south-east Asia.
Park Young-sun, minister for small to medium-sized enterprises and start-ups, said the government was redoubling efforts to encourage companies to return home, as the country grapples with rising unemployment and slower growth stemming from coronavirus.
“It remains to be seen if the reshoring trend will accelerate but I think our incentives will influence the decisions of high value-added manufacturers,” Ms Park told the Financial Times.
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