A Gyeonggi-do delegation led by Gyeonggi-do Governor Kim Dong-yeon will visit the eastern United States, including Virginia and New York, for five days and seven nights from Oct. 15 to 21 to support startups' global expansion, attract investment and strengthen international exchange and cooperation.

This will be Kim's third trip to the U.S. since taking office, and the visit is significant because it is the culmination of Kim's participation in the Davos Forum (World Economic Forum 2024), Gyeonggi-do explained.

At the Davos Forum in Switzerland in January, Kim was the only government official invited to join the Innovator Community, where he connected with global startups. The Innovator Community is a signature event of the Davos Forum where startups from around the world share information. Governor Kim also hosted a special session called “Gyeonggi the Innovator,” which was organized by the forum organizers at the request of unicorns (privately held startups with a valuation of more than $1 trillion and less than 10 years old) attending the Davos Forum. The seven startups that participated in the session requested investment from Gyeonggi-do, and Kim was invited to visit the province by Jeong Se-joo, chairman of fun unicorn company NOOM, who also participated in the session.

The Gyeonggi-do delegation will be accompanied by 31 representatives from 22 startups in the province to sign an agreement with the United Korean Founders (UKF) to support mutual expansion of startups between Gyeonggi-do and the United States. UKF is a non-profit organization founded by Korean entrepreneurs in the Americas to support the creation of a startup ecosystem.

In addition, they will participate in the '2024 NYC Startup Summit' organized by UKF to provide opportunities for local companies to promote global investment and deliver the message that Gyeonggi-do provides an optimal environment for startups to grow.

The visit will also include practical investment opportunities. Investment agreements are being pursued with Company A, a global leader in industrial safety certification, and Company B, a foreign-invested company in logistics center investment and development platform.

In the field of international exchange and cooperation, we will meet with the governors of Virginia and New York to strengthen practical cooperation in high-tech industries.

Virginia is a state with major manufacturing and high-tech industries and is home to major data centers, and Kim plans to discuss innovation alliances in Gyeonggi-do's strategic industries and future growth areas such as startups and bio with Virginia Governor Glenn Youngkin.

The meeting will also be used to revitalize exchanges with New York State, the “startup capital of the world. Kim will propose to New York Governor Kathy Hochul that Gyeonggi-do and New York provide physical support, human and technological exchanges, and economic cooperation in the startup sector.

“The visit is aimed at strengthening exchange and cooperation in the eastern region of North America, expanding the economic territory of high-tech industries, and attracting investment,” said an official from Gyeonggi-do.
 

[Korea Economy Press]