foreign trade

Alabama Expands⁢ Global Presence with New⁢ Seoul Office to Boost Trade &⁤ Investment

SEOUL, South Korea – The Alabama Department ⁣of Commerce today announced⁢ the opening of a new business growth office in Seoul, South Korea, solidifying the state’s commitment ‍to strengthening economic ties with ​one of its most important international partners.

The Department has partnered with Samil PricewaterhouseCoopers (PwC),South Korea’s leading professional services firm,to represent Alabama’s business interests in the country. Samil PwC brings over 50 years of experience⁢ facilitating trade and investment for both public and ⁤private sector clients.

leading the Alabama-focused team will be Sean Blakeley, an international business development expert, supported by Carol Yelim Choo as Alabama’s dedicated Korea representative. Their core focus will be attracting⁣ Korean investment to Alabama, ⁣assisting Alabama companies with export opportunities, and​ coordinating participation in key​ trade events and business missions.

“South Korea has been instrumental in Alabama’s economic growth for​ over two decades, with investments like Hyundai ⁤transforming our communities and creating ‌thousands of jobs,” stated Ellen McNair, ⁣Secretary of the Alabama Department of ​Commerce. “A permanent presence in Seoul will further strengthen this vital partnership and position ​Alabama⁢ for continued success.”

Since 1999, Korean companies, primarily Hyundai Motor Group and its ‌suppliers, have invested $9.6 billion in⁤ Alabama, making South Korea ​a ‍top three international investment partner alongside Germany and Japan.

Christina Stimpson, Global business Officer for Commerce, emphasized the strategic importance of the new office: “With a dedicated team on the ground through Samil PwC, we can deepen ⁢relationships with Korean investors and better support Alabama ‌companies expanding into this key market.”

The Seoul office joins existing Alabama trade offices in‌ Stuttgart,⁢ Germany and Tokyo, Japan, extending the state’s reach across three of the ⁤world’s most dynamic economies and demonstrating a long-term commitment to global business engagement.

Hollie Pegg,Assistant Director of Commerce’s Recruitment and Retention Office,added,”This new office reflects our long-term commitment to‍ the Korean relationship,building on billions in investment,thousands of jobs,and a‌ shared sense of progress. ⁤We’re‍ excited to strengthen ⁤our partnerships and unlock even more opportunities for Alabama.”

Summary of the Article: Alabama Strengthens Economic Ties with Japan

This article details Alabama’s participation in the 47th Southeast US-Japan Conference (SEUS-Japan) in Tokyo, highlighting the state’s‌ long-standing and valuable economic⁣ relationship with Japan. Here’s a breakdown of the key takeaways:

* Strong Existing Partnership: Japan is a top 3 international investment partner for Alabama,with over 80 Japanese companies operating within the state,contributing over $10.1 billion in investment and creating more than 25,000 jobs since 1999. Key sectors⁢ include automotive⁤ and advanced ‌manufacturing.
* Keynote ‍Speaker: ⁤ US Ambassador to Japan, George Glass, will ‌deliver the keynote address.
*⁢ Alabama Delegation: ‌A large delegation representing Alabama’s economic progress officials, business leaders, elected ⁢officials, and partner organizations is attending ‌to network, hold meetings, and ​showcase Alabama’s benefits​ for ‌Japanese investment.
* New Alabama Office in Tokyo: A significant development is the formal opening of‌ an Alabama business development office in Tokyo, managed in partnership with Tractus, ​to further solidify​ the relationship.
* Commitment to Growth: Alabama officials emphasize a commitment to building ​on the existing foundation of mutual trust and respect to drive future innovation, growth, and success for both regions.
* Diverse Depiction: The delegation includes state commerce ⁤officials, ⁢lawmakers, representatives from Japanese companies with Alabama operations (like ⁤Mazda Toyota Manufacturing ​and Daikin), the Honorary Consul General of Japan⁣ (Alabama), ‍and economic development allies from various ⁣Alabama counties‌ and the TVA.
* SEUS-Japan’s Importance: The ⁢conference is described as a “cornerstone” of Alabama’s ‍international engagement, fostering ​relationships that lead to investment and possibility.

In essence, the article portrays Alabama‌ actively working to deepen its economic ties with Japan ‍through high-level meetings, a new physical presence in Tokyo, and a strong delegation demonstrating the state’s commitment⁣ to a long-term‍ partnership.