During a special Texas evening reception at the U.S. Embassy in Seoul, Governor Greg Abbott emphasized strong economic ties between Texas and South Korea. "Texas and South Korea have plenty in common, with knowledge-based economies that will continue to grow and thrive well into the next generation," Abbott said, according to an article from the governor’s official website. The governor is currently on a three-nation economic development mission, which includes stops in Taiwan, South Korea, and Japan.
The visit is part of a strategy to link Texas more closely with tech-forward economies abroad. Governor Abbott started the day meeting with the Minister of Foreign Affairs for the Republic of Korea, Cho Tae-yul, to discuss economic and trade relationships. They particularly focused on innovation in emerging critical industries like artificial intelligence and semiconductor manufacturing. The statement obtained by Governor Abbott's office focused on South Korea’s leading role in semiconductor manufacturing. Abbott also attended a luncheon hosted by the Korea International Trade Association (KITA) to celebrate the trade between the two nations and explore further partnership opportunities.
The governor’s engagements in South Korea also included interactions with business leaders from key South Korean companies. As per the Office of the Texas Governor, Abbott met with executives from SK Americas and SK Signet to discuss new investments, such as SK Signet's facility in Plano, Texas, which is set to manufacture electric vehicle charging stations. Abbott was accompanied by Texas First Lady Cecilia Abbott and several key economic development officials. The series of meetings sought to reinforce the narrative of Texas as a hub for innovation and business expansion.
Abbott’s trip demonstrated Texas’s significant trade relationship with South Korea, with over $20.59 billion invested in Texas by South Korean companies over the last decade, resulting in the creation of more than 7,000 jobs. In just the first five months of 2024, South Korean businesses have further pledged $27.52 billion across nine projects, expected to generate over 4,800 new jobs, as detailed by the Office of the Texas Governor. As the Governor's delegation prepares for the third day, a visit to Samsung's Pyeongtaek Semiconductor Facility and a project announcement for Texas are on the agenda, underlying the deepening economic bonds between the two regions.
