Five Korean footwear factories head home - sportstextiles: Lea SportsTextiles

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Five Korean footwear factories head home

26/09/2014
Four Korean footwear manufacturers that had set up factories in China and one that was part of the Kaesong Industrial Complex in North Korea have met with officials to facilitate moving production back to Korea.

Rising wages and political disputes were cited as the main reasons, according to reports, which said the companies will invest $57 million in new factories in the port of Busan and create 500 jobs in the next four years.

“In consideration of the rising wages at factories in China, the cost of importing raw and subsidiary materials from Korea, and growing preferences that our clients have been showing for products made in Korea, we decided to relocate to Korea in order to take advantage of the free trade agreements that have taken effect,” said the president of one of the companies to local media.

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