Japanese And South Korean Families Ship Out Of Shanghai

The press officer at the South Korean consulate in Shanghai was unable to answer a question from the FT‘s Patti Waldmeir about South Korean companies retrenching their presence in the city and emptying out Little Korea because her own job had just been cut and she was being recalled home.

An amusing anecdote, but she is not the only one. The report says the city is seeing the first wave of expats leaving China’s financial capital as a result of the financial crisis, with both South Korean and Japanese companies shipping staff home or repatriating wives and children without their menfolk to cut costs.

If nothing else, it leaves room for the city’s seven year non-resident residents to become permanent resident residents.

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Filed under China-Japan, China-Koreas, Economy

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