Korean company: Reason for “de-China”:
-Korea Net “Technology was handed over” “It’s bad to believe”-
December 22, 2021
Korea News 24:
Hyundai Motor Group,
SK Group,
Lotte Group, etc.
The “de-China” of Korean companies is progressing.
Deterioration of investment environment in China:
More than 85% of Korean companies operating in China think that the local investment environment has deteriorated since 10 years ago.
Federation of Korean Industries:
We surveyed Korean companies that have been in China for more than 10 years.
Business environment for the last 10 years:
As a result, 85.5% of China’s investment environment has deteriorated since 10 years ago.
China business deteriorated significantly, 22.1%,
China business deteriorated, 63.4%,
The Chinese business far exceeded the improvement (6.9%).
Relocation destination of Chinese business:
In response to the question of which region to choose
67.2% answered “New southern region including Southeast Asia and India”.
On the other hand, only 13.0% answered that they were “reshorering to South Korea.”
https://www.recordchina.co.jp/b886937-s39-c20-d0191.html
Most South Korean Companies Facing Discrimination in China
The Federation of Korean Industries recently conducted a survey at 131 South Korean companies in China.
Each of the companies has done business in China for more than 10 years.
According to 82 percent of the respondents,
South Korean companies
are facing discrimination in China.Half of them
mentioned discrimination in terms of licensing and approval procedures,followed by various business-related regulations such as
safety inspection (22 percent), environmental regulations (14 percent)
financial and tax-related discrimination (12 percent).Two-thirds of the respondents
said they are willing to relocate to Southeast Asia or India.Relocation to South Korea was chosen by only 13 percent.
One-third of the respondents said
their current annual sales are smaller than those of 10 years ago.45 percent,
27 percent 、
23 percent of them mentioned an increase in competition, a decline in local demand,and government regulations as their reasons, respectively.
– Businesskorea
http://www.businesskorea.co.kr/news/articleView.html?idxno=84567