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Gyeongsangbuk-do Recognized as Outstanding Local Government for Attracting Reshoring Companies in 2024 상세내용
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- Gyeongsangbuk-do Recognized as Outstanding Local Government for Attracting Reshoring Companies in 2024
- 등록일2024-11-21 00:00:00
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- Awarded Prime Minister’s Commendation for Highest Achievement among Non-Capital Regions with 24 Reshoring Companies -
- Additional 5% National Subsidy Support for Reshoring Investment Subsidies in 2025 -
On November 21, Gyeongsangbuk-do Province received the Prime Minister’s Commendation for outstanding perance in attracting reshoring companies during the “2024 Reshoring Contribution Awards and Academy” event, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and co-organized by the Korea Industrial Complex Corporation (KICOX) and the Korea Trade-Investment Promotion Agency (KOTRA).
As an outstanding local government, Gyeongsangbuk-do Province will benefit from an additional 5% in national subsidy support for reshoring investment subsidies in 2025, reducing its financial burden.
er the “Act on Assistance to Korean Off-Shore Enterprises in Repatriation,” reshoring companies are defined as businesses that have operated overseas facilities for at least two years and then liquidate, transfer, or scale down these overseas facilities to establish or expand operations in the same industry within Korea.
Since the Act’s implementation in 2013, Gyeongsangbuk-do Province has attracted 24 reshoring companies, the highest among non-capital regions. The total investment scale of reshoring companies amounts to KRW 838.2 billion, creating 1,350 jobs.
Key factors behind Gyeongsangbuk-do Province’s success include its automobile parts cluster spanning Gyeongju, Yeongcheon, and Gyeongsan; advanced semiconductor materials, component, and equipment industries in Gumi; and affordable industrial land facilitated by the direct development of industrial complexes in Gimcheon.
Prominent reshoring companies in the province include AJU Steel Co., Ltd., the first Korean company to benefit from the reshoring investment subsidy program, and DONGHEE Industrial Co., Ltd., a specialized electric vehicle parts company, both of which completed investments in Gimcheon by 2021.
WONIK QnC Corporation, a global semiconductor composite material specialist, and KHVATEC Co., Ltd., a global ICT parts manufacturer, finished construction in Gumi in March 2024. Hwashin Co., Ltd. completed its factory in Yeongcheon High-Tech Park in October 2024, marking the start of full-scale electric vehicle parts production.
Recently, Gyeongsangbuk-do Province has intensified efforts to attract reshoring companies amid rising demand for relocating overseas businesses because of global supply chain risks. In August and November, the province held ination sessions in Gyeongju and Gumi, respectively, for over 20 companies considering reshoring. In September, it engaged in investment promotion activities targeting local firms in Beijing, China.
Looking ahead, the province plans to host regional business rotables for reshoring companies and interested firms, offering guidance on financial and legal support for overseas facility liquidation. It will also strengthen its network with the MOTIE, KOTRA, and KICOX to efforts on attracting, settling, and supporting reshoring companies.
Lee Nam-auk, Director of the New Consolidated Airport Investment Office of Gyeongsangbuk-do Province, stated, “Gyeongsangbuk-do’s ion as an outstanding local government for reshoring investment reflects the results of its robust industrial structure, infrastructure, and business-friendly policies. We will continue to provide tailored support from attracting investment to resolving corporate challenges, ensuring the successful resettlement and growth of reshoring companies.”
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- 담당부서 :
- Gyeongsangbuk-do Provincial Gove
- 전화번호 :
- 054-880-4614
