[2022 National Audit] Choo Kyung-ho "Korea Is Not a Business-Friendly Environment... Expanding Reshoring Support"
Deputy Prime Minister for Economy Choo Kyung-ho is attending the National Assembly's audit on the Ministry of Economy and Finance (Economic and Fiscal Policy) held on the 4th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@
View original image[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said on the 5th that "the reason why (our country's) companies are leaving is due to an unfavorable business environment" and announced plans to strengthen support policies for reshoring (the return of overseas relocated companies to Korea).
At the Ministry of Economy and Finance's audit by the National Assembly's Planning and Finance Committee on the same day, Deputy Prime Minister Choo stated, "The movement of companies is the result of a combination of regulations, tax systems, etc., but the incentives for these are relatively insufficient."
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He added, "Expanding reshoring support helps secure a stable supply chain, investment, and job creation," and said, "We will consult with experts and local companies to review areas where benefits can be expanded and strengthen reshoring policies."
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