If you don’t count Dallas – as is proper, the government of South Korea announced on Thursday that it is opening its first Southern trade office in Atlanta. The office is only the eighth for the Asian nation in the United States, with the usual suspects of New York, Chicago, Los Angeles and D.C., followed by the automobile powerhouse of Detroit, the tech powerhouse of Silicon Valley and the aforementioned Dallas – home to a large Korean-American population.
The Georgia Department of Economic Development announced the opening and the pledge between GDEcD and the Korea Trade-Investment Promotion Agency (KOTRA) to support trade and investment between Georgia and Korea.
“Korea is an established strategic market for investment, trade, and tourism for the State of Georgia, and our partnerships and trusted relationships are the foundations of our success. The decision by KOTRA to open an overseas office in Atlanta will continue to strengthen these relationships,” said GDEcD Commissioner Pat Wilson.
KOTRA’s mission is similar to other trade offices, facilitating cooperation and helping to find investment and support resources in the area. They also act as an information resources for programs offered by local agencies, such as GDEcD or the more local variety like a regional development authority. Korea already has a strong foothold in Georgia, with companies like the SK Group, Kia or Sangsin among others employing nearly 10,000 Georgians. One of the largest manufacturing facilities in the country is the new SK battery plant along I-85 outside Commerce.
“KOTRA Atlanta will serve as outpost to support Korean business in the Southeastern United States,” said President and CEO of KOTRA Soo Deuk Sohn. “In particular, we will do our best to expand cooperation in many industrial fields between Korea and the United States and support Korean companies’ local investments.”
The offices will also likely act as an information source in the other direction. Korea is already a major destination for Georgia products, as it is the 10th largest export market for the state of Georgia, totaling nearly $900 million – including critically important products like aircraft, medical instruments, gas turbines and chemical analysis instruments. That is compared to nearly $9 billion in imports of motor vehicles, tractor parts, bulldozers and engines among others. Flights between Atlanta and Seoul run every day and the Port of Savannah has a direct relationship with the Port of Busan.
Added Wilson, “Our existing connectivity includes daily direct flights between Hartsfield-Jackson Atlanta International Airport and Incheon International Airport, as well as long-standing agreements between the Georgia ports of Savannah and Brunswick and five Korean ports. These connections facilitate our joint efforts to create an innovative electric mobility ecosystem in Georgia and provide opportunities for collaboration, reciprocal business growth, and cultural exchange. Welcome to Georgia!”
