The Korea Times 2016-11-10
Automakers and other exporters here
will shift their production to the United States, following Donald Trump’s win in the U.S. election, according to the head of the European business community here on Thursday.
Over the years, Hyundai Motor and other Korean companies have been building plants in the United States and other countries to make products where consumers are, while downsizing their presence in their home country because of soaring labor costs, increasingly militant labor unions and other unfavorable conditions.
Darbes then said
Trump’s election pledge to make the U.S. economy expand 4 percent will create business opportunities for Korean businesses as it could become a growth engine for the rest of the world.
“The United States will have to invest significant amounts of money to propel its growth. Its increasing economic activities will also increase demand for foreign goods,†he said. “This will present
good business opportunities in the United States for Korea’s carmakers, chemical firms and other exporters, thanks to their high-quality products.â€
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