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Title Vol. 110 Analysis of Major Policies Related to Korean Reshoring Companies (English edition)

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    38
  • Date
    2021-05-21

Support for reshoring enterprises aims to invigorate domestic investment, promote employment, and further contribute to developing the national economy. Major foreign countries are also actively developing and implementing similar policies. Korea is facilitating reshoring through the Korean Reshoring Act and related measures, but the results of such efforts are limited.
Regarding the vitalization of domestic investment and employment by encouraging reshoring, this analysis provides a suggestion to review reshoring policy for conglomerates that have the advantage of bringing in other companies and to strengthen policy support for industry advancement and high value-added production, which has a relatively large possibility of inducing reshoring. Moreover, this report recommends expansion and reformation of the eligibility criteria for reshoring enterprises to place a greater focus on promoting domestic investment and employment. In addition, goals should be set to emphasize the quantitative and qualitative improvements of domestic investment and employment. The role of local governments, which select and support reshoring enterprises, should be reinforced on the linkages between the reshoring process and their local development policies.

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