Arizona and Gyeonggi Province Forge New Economic Partnership
In a significant move to enhance international economic ties, Arizona Governor Katie Hobbs and Gyeonggi Province Governor Dong Yeon Kim have formalized a new partnership through a Memorandum of Understanding (MOU). The signing ceremony took place in Phoenix, Arizona, marking a milestone in the collaborative efforts between the state and the Republic of Korea’s Gyeonggi Province.
Joining the ceremony were over 35 business leaders from Korea, alongside Sandra Watson, the President and CEO of the Arizona Commerce Authority, Mesa Mayor John Giles, and other local community and industry figures. This impressive gathering underscored the importance of the agreement in fostering mutual economic growth.
This MOU is centered around bolstering cooperation in diverse sectors such as workforce development, technology, startups, advanced industries, and green technology. The agreement also emphasizes the importance of youth education and cultural exchanges.
Governor Katie Hobbs expressed her enthusiasm, stating, 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.
She further highlighted the potential for joint technological and research initiatives to propel both regions into prominent positions in the global economy.
In a previous meeting, Governor Hobbs and Governor Kim discussed potential collaborations in advanced industries during her visit to Korea and Taiwan in September 2023. That visit also celebrated the establishment of the Arizona Trade and Investment Office in Seoul, aimed at strengthening trade and economic ties with Korea.
The relationship between Arizona and Korea is further evidenced by substantial investments, such as LG Energy Solution’s $5.5 billion battery manufacturing complex in Queen Creek. Additionally, Arizona exported goods worth $559 million to Korea in 2023, highlighting the significant economic exchanges between the two regions.
Contact Information
For more information, contact Alyssa Tufts at the Arizona Commerce Authority through [email protected]
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s premier economic development organization, with a mission focused on enhancing Arizona’s economy. The ACA’s strategy involves attracting new companies to Arizona, expanding existing businesses, and fostering entrepreneurship within the state. More information can be found at azcommerce.com and on Twitter @azcommerce.
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