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Feb 5, 2014

Korea's U-Turn Program: Enticing Korean Companies to Return to Korea

The Korean government has passed the Act on the Support for Korean Enterprises Re-shoring from Overseas ("U-Turn Company Support Law").  The Law, among other things, allows Korean enterprises that have setup operations overseas that return to Korea to benefit from:
  • Assistance from KOTRA
  • Government Paid Legal and Other Consulting Fees related to Re-shoring and windup
  • Corporate Income Tax Cuts
  • Land Subsidies
  • Custom Clearance Support
  • Use of Free Trade Zones
  • Equipment Investment subsidies
  • Foreign Worker "special activity visas"
  • Employment subsidies
  • Export Financing
Will it work?

IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S.