Arizona Opens New Trade And Investment Office In Republic of Korea

PHOENIX, AZ (March 24, 2023) — Governor Katie Hobbs announced today the opening of Arizona’s new trade and investment office located in the Republic of Korea. The new office, a part of the Arizona Commerce Authority, is located in Seoul, South Korea and coincides with the opening of Arizona’s trade and investment office in Taipei, Taiwan. Both offices were created by the Arizona Legislature in 2022 and serve as platforms to expand Arizona’s global competitiveness.

“Arizona is proud to enhance our ties with a critical trade partner in South Korea, a global leader in advanced technologies,” said Governor Katie Hobbs. “Arizona and South Korea enjoy a strong economic partnership rooted in growing innovation sectors and we look forward to further growing this partnership and Arizona’s advanced manufacturing sector, the fastest-growing in the nation.”

In 2022, South Korea-based LG Energy Solution selected Queen Creek to build a new cylindrical-type battery manufacturing facility, announcing an initial investment of $1.4 billion and the creation of at least 1,000 new jobs, with room to expand. Arizona exports to South Korea have risen by more than 42% since 2017, with growing opportunities in advanced sectors such as semiconductors, aerospace, automotive, electronics and more.

“Our South Korean trade office represents a significant opportunity to further scale Arizona’s global competitiveness,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “The office in Seoul will strengthen Arizona’s relationship with South Korea and provide a platform for future growth. My thanks to our legislative partners for their continued support of expanding trade and creating more economic opportunities for Arizonans.”

“I’m pleased that Arizona is opening an office here in South Korea,” said U.S. Ambassador Philip S. Goldberg. “Arizona has been building an investment climate that welcomes Korean companies. Arizona’s new office will help contribute to deepening the U.S. – ROK alliance.”

The Arizona Commerce Authority has selected Julie Kim, a consultant and economic development leader with extensive experience in trade and investment, to lead the Korea office. Previously, Ms. Kim spent a decade with the State of Virginia and served first as its marketing director then as the director of its Korea office. She also serves as Vice President of Corporate Affairs at the Korea Chapter of the Association of US Army (AUSA).

Media Contact
Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.