Samsung SDI and LG Electronics have closed their factories one after another, and Korean enterprises may reduce their investment in China
Time:2022-08-05
Views:1876
Source set microgrid:
According to businesskorea, a Korean media, the European Chamber of Commerce in South Korea recently announced that 23% of European enterprises canceled or postponed investment in China in the second quarter of this year. This is because China‘s economic growth is slowing, and the United States and the European Union are reshaping the global supply chain for China.
Source: Korean media pulsenews
In addition, in a recent survey conducted by the Korea Federation of industry, 86% of Korean enterprises in China replied that their investment environment was deteriorating compared with a decade ago. At the same time, more than 38%, 20% and 18% of the respondents cited political risks, differential treatment and Sino US trade disputes as the reasons, respectively.
It is reported that nowadays, more and more Korean enterprises are leaving the Chinese market. For example, Samsung SDI closed two electric vehicle battery pack factories in China last year, while LG Electronics closed two factories in China in the same period.
However, they are increasing their investment in the United States. Samsung Electronics will invest $17billion to build a wafer factory in Texas, and SK Group plans to invest $22billion in the semiconductor, biotechnology and energy markets in the United States. In addition, Hyundai Motor and LG group plan to invest US $10.5 billion and US $11billion respectively in the United States.
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