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South Korea struggles to lure factories home from China

Government to expand incentives in battle against slowing growth, says SME minister 

South Korea is struggling to lure companies with operations overseas back to the country despite expanded incentives aimed at helping local factories compete with China and south-east Asia.

Park Young-sun, minister for small to medium-sized enterprises and start-ups, said the government was redoubling efforts to encourage companies to return home, as the country grapples with rising unemployment and slower growth stemming from coronavirus.

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