Reshoring a double-edged sword for Korea

Reshoring a double-edged sword for Korea

gettyimagesbank Higher labor costs may damage competitiveness
By Kim Bo-eun
The government should take a more cautious approach in its drive to bring manufacturing back home, known as its reshoring initiative, as it can be a double-edged sword for the Korean economy which relies heavily on exports, experts said, Sunday.
Pushan Dutt, a professor of economics at INSEAD, said "All firms will want to build resilience, sacrificing efficiency for resilience."
But at the same time he noted, "For export-oriented advanced economies like Korea, reshoring means that the products they export will be more expensive and less competitive." For […]

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