SEOUL, Jan. 11 (Korea Bizwire) — The number of South Korean companies that returned home from their offshore operations and their investment at home hit an all-time high last year, the industry ministry said Tuesday. A total of 26 firms relocated their factories from overseas in 2021, compared with 24 the previous year, and their [...]
ULSAN, Feb. 6 (Korea Bizwire) — Hyundai Motor Co. will reshore some of its manufacturing operations in the United States to help maintain work for its employees at home, its union said Saturday. Under an agreement reached between the company and the union, production of about 70,000 Sonata and Avante sedans will be returned from [...]
SEOUL, May 17 (Korea Bizwire) — South Korea is reviewing an option to ease regulations on the establishment of factories in the country’s metropolitan area as part of efforts to woo more firms with overseas plants return home, the finance ministry said Sunday. Currently, strict regulations are in place on the construction of new plants [...]
SEOUL, Nov. 28 (Korea Bizwire) — An absolute majority of South Korean manufacturers with offshore plants are not considering returning home due mainly to the need to expand overseas markets, a poll showed Wednesday. The survey of 150 such manufacturing companies, taken by the Korea Economic Research Institute (KERI), showed 96 percent of respondents have [...]
SEOUL, Sept. 26 (Korea Bizwire) – In contrast to the recent global tendency for enterprises to bring manufacturing back to their native soil, Korean companies seem to be bucking the trend, government data showed Monday. Reshoring is when a company moves manufacturing ventures back to its home country after operating overseas, often in search of [...]