S. Korea should protect its own economy amid trade uncertainties: Moon

S. Korea should protect its own economy amid trade uncertainties: Moon


President Moon Jae-in has said Korea needs
to protect its economy especially in the face of the uncertain trade conditions and politically-based
retaliatory measures. Here’s the President earlier today. “Promising companies making U-turns to South
Korea give hope to our economy, especially in difficult times. Going forward, the government will give unending
support to companies coming back to invest at home.” The president was visiting the Hyundai Mobis
auto parts factory in Ulsan,… where he said Hyundai Mobis is the first Korean conglomerate
to have brought its business back from overseas,… leading to job creation and revitalizing the
economy. Now in the Fourth Industrial Revolution, he
said, it’s crucial to bring back investment become the world’s fourth biggest manufacturer,
as a study has suggested it can do. Hyundai Mobis announced it will invest 247
million U.S. dollars in an electric vehicle parts plant in the country by early 2021.

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