Time: 2024-07-08
Foreign Minister Cho Tae - yul highlighted the significant role of South Korea 's economic cooperation with various U.S. states in enhancing bilateral relations . During a meeting with Texas Governor Greg Abbott , Cho emphasized the importance of the partnership with Texas , the top destination for South Korean foreign investors . As of April , around 270 South Korean companies are operating in Texas , including tech giant Samsung Electronics , which is investing 7 billion in a new chip plant in Taylor . Abbott expressed his hopes for deeper collaboration in key sectors like semiconductors , energy , artificial intelligence , and space , acknowledging South Korea 's pivotal role in the state 's economy.
Governor Abbott 's visit to South Korea is part of his 10 - day business trip to strengthen strategic alliances with Korean companies . He is set to meet with key executives from major conglomerates like Samsung Electronics and LG Electronics to encourage more investments in Texas . Samsung 's semiconductor manufacturing facility in Taylor , with an initial investment of 7 billion , is a testament to the growing partnership between the two regions . Abbott also plans to engage with Korean Air and Doosan Group for potential business collaborations , focusing on sectors like steelmaking , energy , semiconductors , aviation , and space industries.
Abbott 's attendance at a meeting hosted by the Korea International Trade Association ( KITA ) underlines the importance of enhancing trade relations between South Korea and Texas . The opening of KITA 's new office in Dallas further signifies the commitment to facilitating Korean firms ' expansion in the state 's industrial hub . The governor 's visit to Samsung 's chip manufacturing hub in Pyeongtaek reflects the strong partnership between Texas and Samsung , with a focus on boosting ties in cutting - edge manufacturing sectors.
Governor Abbott 's efforts to provide more incentives and opportunities to companies in state - of - the - art tech industries demonstrate Texas ' commitment to fostering innovation and growth . The governor highlighted the shared values of knowledge - based economies between South Korea and Texas , emphasizing the need to strengthen partnerships for mutual benefit . By deepening economic and cultural ties through engagements with business leaders and government officials , Abbott aims to create a conducive environment for businesses operating in emerging industries like semiconductors . Texas remains dedicated to promoting collaboration with Korean companies to drive economic prosperity and technological advancement.
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