DAEGU < invest Korea

According to Yonhap News,

Last year, 3 out of 26 reshoring companies nationwide came back to Daegu, taking the 3rd place among local governments in attraction of reshoring companies.

According to Daegu-si, 26 reshoring companies came back last year, selected by the MOTIE. Of them, 3 decided to return to Daegu.

It is the 3rd largest number, following Gyeongsangnam-do and Chungcheongnam-do.

In general, provincial governments offer more abundant sites for plant at affordable prices than the municipal government. On this account, Daegu-si self-assessed that it was a great feat of Daegu, as a municipal level.

Koryo Cable, the first reshoring company in Daegu, decided to return from Myanmar to Seongseo 3rd Industrial Complex, and start construction this month. With KRW 51.8 billion investment by 2024, it will produce advanced electricity cables for renewable energy, etc.

The city assumes that its 'Daegu-style reshoring package' full of exceptional support measures including free rent for 10-50 years, and investment subsidy of up to 50% of investment amount, seemed to have been effective.


duck@yna.co.kr

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Source: Yonhap News (February 1, 2022)