[사설] It is a great opportunity to return to a company that has gone abroad-Chosun.com

Check-in 2020.05.05 03:26

Even in the crown shock, Samsung Electronics recorded the largest investment in the first quarter of the year since its founding by spending 5.53 trillion won on research and development. LG Chem decided to invest 3 trillion won in electric vehicle batteries, which is the next generation food industry, although the total investment of the facilities will be slightly reduced this year. SK Innovation has invested 900 billion won and decided to build a second electric car battery plant in Georgia, USA. USA Although the economic recession that followed the crown crisis is in full swing, Korea’s top flagship manufacturers say they will continue to invest nationally and internationally in preparation for ‘after the crown’. Given the economic recovery after the crisis has passed, investments must be made. However, companies that have suffered damage from the global supply chain that has relied heavily on China due to the crown crisis are concerned about “China Risk”. Hyundai Motor had to stop all production lines as the acquisition of a small part produced at a Chinese plant was cut. How to reduce China’s dependency has become a key consideration for ‘post-crown’ investments.

Before Corona, offshoring was a trend in which companies expanded their investments abroad by seeking low wages and broad consumer markets. As the global supply chain that depended on China as the “factory of the world” collapsed due to the crown crisis, restitution, which means going back to manufacturing from now on, is becoming a vital policy for job creation and economic recovery. The United States has already managed to create 260,000 jobs by returning 2,411 domestic companies that have been abroad for the past five years to their home countries. In 2017, jobs created by U-Turn companies accounted for half of new jobs in the U.S. manufacturing industry. USA

The Korean government has also launched a ‘Corporate U-Turn Support Group’, a joint public-private partnership involving local governments and industry groups. President Moon Jae-in also said, “I will attract companies that have gone abroad to ‘safe’ homes.” However, the government’s anti-business policy is also one of the reasons why companies do not want to return to Korea. When countries around the world lowered the corporate tax rate and warmed up to attract businesses, we only invested the highest rate. They chose and pushed for policies that only increase corporate burdens, such as rapid increases in minimum wages and a radical 52-hour week. Last year, the national company’s foreign investment was $ 61.1 billion, the highest in history. It was almost 5 times foreign foreign investment. If the anti-business policy stance does not change, companies will not return. We need to create a good environment for business through labor reform and regulatory innovation.

Many Koreans who went abroad returned home. This is because Korea considers it the safest place to receive quality medical services. Corporate investment is no different. If Korea is considered the best and safest environment for doing business, it will return even if it doesn’t.