An average of just 10-point-4 South Korean businesses abroad returned to South Korea each year from 2014 to 2018. This is far below the 482 U.S. businesses that returned home each year according to the U-turn Business Data report collected by the Federati
- 5 years ago
An average of just 10-point-4 South Korean businesses abroad returned to South Korea each year from 2014 to 2018.
This is far below the 482 U.S. businesses that returned home each year according to the U-turn Business Data report collected by the Federation of Korean Industries.
The report says the rise in labor costs in China and consumers' preference for U.S.-made products as well as corporate tax exemptions helped bring a lot more businesses back to the U.S.
South Korean businesses that return home also receive a corporate tax exemption for 5 years, but according to the report, the unimproved business environment for domestic firms results in poor performances of returning businesses.
This is far below the 482 U.S. businesses that returned home each year according to the U-turn Business Data report collected by the Federation of Korean Industries.
The report says the rise in labor costs in China and consumers' preference for U.S.-made products as well as corporate tax exemptions helped bring a lot more businesses back to the U.S.
South Korean businesses that return home also receive a corporate tax exemption for 5 years, but according to the report, the unimproved business environment for domestic firms results in poor performances of returning businesses.