The Korea Trade Association announced on the 2nd that it has opened a local office in Dallas, Texas to assist Korean companies in their expansion efforts. Federal Representative Beth Van Duyne, Texas Secretary of State Jane Nelson, Houston Consul General Jung Young Ho, and 50 other government officials and related business representatives from both countries attended the opening ceremony.
The Dallas office of the Trade Association will oversee the southern and western regions of the United States, including Texas, Georgia, and California. The office further plans to assist Korean companies in local exports and investments by providing local expansion information and support programs for creating business opportunities between companies from both countries.
As of last year, Korea is one of the top five exporters and top six importers from Texas with the trade volume between the two regions being approximately $32 billion.
As of April this year, there are 270 Korean companies in Texas, the second-highest number after California (600). The Korea Trade Association will hold a meeting in Seoul on the 8th to invite Texas Governor Greg Abbott and support networking between domestic companies and key economic figures in Texas. President of the Trade Association Yoon Jin Sik said, “Texas is one of the fastest-growing and most dynamic states in the U.S. The state has little regulation on business activities and no personal income tax or corporate tax, leading to active investment from multinational companies, including Korean companies.” He added, “The Dallas office will play a pivotal role in strengthening the entry of Korean companies into Texas and their cooperation with local companies.”
