This article, published in edaily, discusses how Korea is experiencing significant benefits from de-risking strategies and the U.S. Inflation Reduction Act (IRA), leading to a record-breaking foreign direct investment (FDI) of $23.95 billion in the third quarter.
Dr. Martin Henkelmann, President & CEO of KGCCI, stated, "There is a growing interest in Korea's effective handling of the COVID-19 crisis in Germany. Recently, companies are inquiring about diversification, considering de-risking strategies. Investments in the biopharmaceutical, semiconductor, and automotive sectors are increasing as companies aim to expand their presence in Korea and reduce geographical distance from key customers."
Concerns have been raised about manpower shortages and regulatory hurdles. Dr. Henkelmann remarked, "With the declining Korean population and a preference for large corporate employment, finding skilled workers is challenging. There is a need for an education system beyond universities to nurture and train professionals." He also pointed out, "Strict and rigid labor laws, along with the Serious Accident Punishment Act, are factors causing reconsideration of investments in Korea."
Click HERE to read the full article.
