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Chuncheon Aggressively Engaged in Attracting U-turn Companies
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According to Yonhap News,

Chuncheon City, Gangwon Province will be aggressively engaged in attracting the so-called U-turn companies seeking to come back to Korea from abroad, as many of them are expected to return due to changing global economic trends.

The changes are led by Korea's effectuation of free trade agreements with the EU and U.S., which leads to favorable conditions for domestic exporters. Plus, rising labor costs in developing economies including China are serving as another factor to accelerate the return of Korean companies from abroad.

As the government expands subsidies for industries including fashion, clothes, shoes, electronics and machinery, more companies are considering returning to Korea, a Chuncheon City official said.

The city especially focuses on attracting U-turn companies doing operation in China.

It dispatched officials to Shenyang and Qingdao this month where many Korea companies do business.

The officials promoted the city's on-going projects including the establishment of the Southern Chuncheon Industrial Complex and East Chuncheon Industrial Complex and explained incentives to be offered for U-turn companies.

Source Text

Source: Yonhap News (Nov. 13, 2012)

** This is the translation of a Korean article.