Governor Hobbs Signs MOU With Gyeonggi Province Governor Kim To Strengthen Economic Ties With Republic Of Korea

PHOENIX, AZ (May 14, 2024) – Arizona Governor Katie Hobbs and Gyeonggi Province Governor Dong Yeon Kim signed a Memorandum of Understanding (MOU) during a signing ceremony held today in Phoenix, Arizona. The MOU will further collaborative opportunities and strengthen economic ties between Arizona and Gyeonggi Province, Republic of Korea.

A visiting delegation of over 35 business leaders from the Republic of Korea, Sandra Watson, President and CEO of the Arizona Commerce Authority, Mesa Mayor John Giles, and local industry and community leaders were witnesses at the MOU signing.

The MOU focuses on strengthening collaborative ties and mutually beneficial opportunities to advance economic development of both regions in areas such as workforce, technology, startups and information technology, advanced industries including manufacturing, youth education and training, culture, green technology and more.

“I am proud to sign this Memorandum of Understanding today, and put pen to paper that Arizona and the Gyeonggi Province are committed to working together to move not just our respective regions forward, but the entire world forward,” said Governor Katie Hobbs. “By leveraging each other’s strengths in technology, research and development, this agreement promises to fuel groundbreaking initiatives and propel both regions to the forefront of the global economic landscape.”

Governor Hobbs previously met with Governor Kim in September 2023 while visiting Republic of Korea and Taiwan and discussed collaboration and opportunities in advanced industries. During that trip, Arizona celebrated the opening of the Arizona Trade and Investment Office in Seoul to further economic and trade opportunities between Arizona and the Republic of Korea.

The MOU signing furthers Arizona’s growing relationship with the Republic of Korea. Arizona companies with a presence in the Republic of Korea include LG Energy Solution, which is building a $5.5 billion battery manufacturing complex in Queen Creek.

In 2023, Arizona companies exported $559 million worth of goods to the Republic of Korea.

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, visit azcommerce.com and follow the ACA on Twitter @azcommerce.