Adriana Cruz, Executive Director of Texas Economic Development: “Texas has ranked No.1 in U.S. exports for 22 consecutive years and No.1 in FDI within the U.S. for the past 20 years.”

[Photo: TexasN] Jung Young-ho, Consul General of Korea in Houston, delivers remarks at the launch ceremony of the Korea-Texas Economic Forum held at the Sheraton Brookhollow Hotel in Houston on Thursday, the 27th.

The Consulate General of Korea in Houston (Consul General Jung Young-ho) is strengthening its support for Korean companies hoping to expand into Texas and its jurisdictional regions.

On the 27th (Thursday), the Consulate General officially launched the Korea-Texas Economic Forum in Houston, attended by more than 150 key figures, including representatives from the state governments of Texas and Arkansas, the City of Houston, the U.S. Congress, the Korean American Chamber of Commerce of Houston, the Korean American Oil and Gas Engineers Association, the Korean-American Scientists and Engineers Association, as well as executives from major economic and professional organizations and prominent Korean businesspeople.

According to the Consulate General, this forum was established to create a platform to support Korean companies seeking to enter the U.S. market more effectively, given that Texas and the broader South-Central U.S. region are emerging as central hubs for economic and scientific-technical exchanges.

With the forum’s establishment, the Consulate General announced plans to identify specific support needs of domestic companies and, through collaboration with state and city governments, the U.S. Congress, and various Korean organizations, assist Korean businesses in expanding into the U.S. market.

Strengthening Economic Cooperation in Advanced Industries

In his welcoming address, Consul General Jung Young-ho stated, “The Korea-U.S. alliance, which marked its 70th anniversary last year, is evolving into an alliance in economic security and technology. Moving forward, Texas and the South-Central U.S. will serve as strategic hubs for cooperation in advanced industries such as semiconductors, energy, biotechnology, and space. Therefore, efforts must be made to achieve tangible economic cooperation results.”

He further emphasized, “To support Korean companies entering the South-Central U.S. market, a comprehensive approach utilizing all available resources is necessary to minimize trial and error. In particular, it is crucial to support not only large corporations but also small and medium-sized enterprises (SMEs), which make up 99% of domestic Korean companies.”

The Consulate General also announced plans to collaborate with domestic economic organizations such as the Korea International Trade Association and the Korea Federation of SMEs to identify companies’ specific support needs. Moreover, it intends to work with state and city governments, the U.S. Congress, and various Korean-American organizations to facilitate more effective expansion of Korean companies into the U.S. market.

U.S. Government Officials Welcome Korean Businesses

Texas Secretary of State Jane Nelson, in a video message, congratulated the launch of the forum, stating, “Texas is North America’s economic gateway, boasting excellent infrastructure and abundant resources. We hope Korean businesses will take full advantage of these opportunities.”

Hugh McDonald, Arkansas Secretary of Commerce, highlighted the state’s rich lithium reserves, which he believes could be highly attractive to Korean battery manufacturers. McDonald, who visited Korea in March, expressed strong hopes for expanding economic cooperation between Korea and Arkansas, citing a recent MOU between ExxonMobil and a Korean company for lithium production in Arkansas.

Business Leaders and Industry Experts Emphasize Korea-Texas Cooperation

Lee Kyung-chul, President of the Federation of Korean American Chambers of Commerce (FKACC), and Douglas Terrier, Deputy Center Director for Strategy and Vision at NASA’s Johnson Space Center, attended the event and expressed their support for strengthening economic ties between Korea and Texas.

Additionally, U.S. lawmakers, including Senators Ted Cruz and John Cornyn, Texas State Representative Joan Huffman, and a representative for Congresswoman Sheila Jackson Lee, participated and shared congratulatory messages.

Lee Kyung-chul stated, “By strengthening the capabilities of Korean American businesspeople, we are expanding business opportunities between Korea and the U.S. The advanced industries in Texas will drive job creation and innovation.”

Texas’ Leading Role in U.S. Economic Growth

Adriana Cruz, Executive Director of Texas Economic Development, delivered the keynote speech, emphasizing that Texas Governor Greg Abbott actively promotes the state as the top business destination in the U.S. and globally. She noted that Texas has led the U.S. in exports for 22 consecutive years and has been the No.1 state for Foreign Direct Investment (FDI) over the past 20 years.

Cruz further highlighted that Korea ranks as the largest capital investor in Texas, citing Samsung’s recent investment in Taylor, Texas, as a prime example of how Korean businesses are contributing to mutual economic growth. She also outlined various investment incentives and funding programs available to Korean companies.

Presentations on Expanding Korea-U.S. Economic Cooperation

Following the keynote speech, experts from key industries provided sector-specific strategies to enhance economic cooperation between the two countries. Presenters included:

• Kang Moon-sun, Chairman of the Korean American Chamber of Commerce of Houston
• Kim Geon-ho, President of the Korean American Oil and Gas Engineers Association
• Shin Soo-jung, President of the Texas Chapter of the Korean-American Scientists and Engineers Association
• Lee Eun-chul, Director of the U.S. Office of the Korea Offshore & Shipbuilding Association

They discussed ways to strengthen bilateral collaboration across various industrial sectors.

Reporter: An Mi-hyang (amiang0210@gmail.com)
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