86 per cent of Korean companies operating in China say they are pessimistic about their business future in the country, and almost 30 per cent are planning to leave China, according to a survey by the Korean Chamber of Commerce and Industry.
Some 350 companies were surveyed, with 25 per cent of respondents
saying they "have seriously considered winding up their business in the
country", reports the English edition of Korea's news agency
Chosunilbo. Another 3.1 per cent of respondents said they have already
started preparations for leaving. The 86 per cent of pessimistic firms
has risen sharply from 33.1 per cent in a similar survey in March 2007.
The major challenges for Korean companies are cited as
labour-management relations, legal and system changes, making inroads
into markets and securing financial resources. As of September 2007,
19,529 Korean firms were operating in China, with total investment of
USD21.1 bn.
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