"Invest in Gyeongbuk with One-Stop Support"... Gyeongbuk Holds Briefing to Attract Reshoring Companies

Subsidies and Support Policies Explained in Gumi
26 Companies Reshored, 930 Billion Won Invested

On October 20, the Gyeongbuk Provincial Government will hold a "Domestic Reshoring Company Attraction Briefing Session" at the Gumi Geumosan Hotel, targeting representatives of companies with overseas operations and related organizations.

This briefing session has been organized to proactively respond to the reshoring demand of companies that have expanded overseas, amid rapidly changing industrial environments such as the US-China trade conflict and the restructuring of global supply chains. The event aims to actively promote domestic reshoring support policies and incentives, thereby encouraging investment in the Gyeongbuk region.

Gyeongbuk Provincial Government Office

Presided over by Lee Nameok, Director of the Gyeongbuk Provincial Government Airport Investment Headquarters, the session was attended by officials from the Ministry of Trade, Industry and Energy’s Overseas Investment Division, the KOTRA Domestic Reshoring Team, the Korea Industrial Complex Corporation, local government staff in charge of reshoring work, as well as representatives from 10 local companies including JAHWA Electronics Co., Ltd., and over 40 other stakeholders. They shared information on domestic reshoring support policies, subsidy systems, and successful cases.

The briefing session proceeded with an introduction to KOTRA’s "2025 Domestic Reshoring Support System," a presentation on the successful reshoring case of WONIK QnC Corporation, an explanation of the "Domestic Reshoring Investment Subsidy Incentives" by the Korea Industrial Complex Corporation, and a session to listen to the difficulties faced by participating companies and discuss possible solutions.

The Gyeongbuk Provincial Government enacted the "Ordinance on Supporting the Domestic Reshoring of Overseas Companies" in 2021, and in July 2024, established a one-stop support system through organizational restructuring, covering everything from industrial complex development to investment attraction and resolving corporate difficulties.

Excluding Gyeonggi Province, Gyeongbuk has been selected as the local government with the highest number of reshoring companies nationwide. To date, it has attracted 26 companies, 930.8 billion won in investment, and created 1,127 new jobs.

Additionally, in 2024, it was selected by the Ministry of Trade, Industry and Energy as an "Outstanding Local Government for Attracting Reshoring Companies," receiving a Prime Minister’s Commendation. In 2025, when applying for domestic reshoring investment subsidies, the province will receive an additional 5% in national funding, significantly reducing the financial burden on local government.

Lee Nameok, Director of the Gyeongbuk Provincial Government Airport Investment Headquarters, stated, "The supply chain restructuring, including the US-China trade conflict, is creating new opportunities for our region. We will strengthen our customized support system so that companies returning from overseas or making new investments in regional areas can choose Gyeongbuk as their top investment destination. Taking this briefing session as an opportunity, we will actively reflect the voices of companies and the field to ensure that reshoring companies can successfully settle and thrive."

This content was produced with the assistance of AI translation services.