Seoul City Joins Hands with Korean-American Business Leaders in the Americas to Support Corporate Overseas Expansion

Business Agreement Signed for Economic and Friendly Exchanges

[Asia Economy Reporter Kiho Sung] The Seoul Metropolitan Government announced that it will sign a business agreement with the Federation of Korean-American Chambers of Commerce in the U.S. at 4 p.m. on the 18th in preparation for the ‘21st World Korean Business Convention’ to be held in October. The main contents of the agreement include promoting exchange and marketing between Seoul-based companies and Korean-American businesses, as well as strengthening economic cooperation between the two organizations.

Kim Eui-seung, the First Deputy Mayor of Seoul, and Hwang Byung-gu, President of the Federation of Korean-American Chambers of Commerce, will attend the signing ceremony.

The ‘21st World Korean Business Convention’ is an international expo where about 500 U.S.-based companies, Korean entrepreneurs, and over 4,000 overseas Koreans from around the world will participate. The event will feature investment attraction forums, one-on-one business matching, seminars, and side events including K-Pop competitions and Hallyu performances.

This event is expected to attract the attention of 17 million American Hallyu fans and the mainstream U.S. society, with approximately 10,000 visitors anticipated to attend the exhibition over the four-day, three-night convention period.

The Federation of Korean-American Chambers of Commerce, which signed the business agreement with Seoul, is a non-profit organization established in 1980 to represent the interests of the growing Korean-American business community in the U.S. It consists of 300,000 Korean-American entrepreneurs organized into six regional councils across the U.S., a coalition of 78 local chambers of commerce, and eight subcommittees.

Kim Eui-seung, First Deputy Mayor of Seoul, stated, “The World Korean Business Convention, held overseas for the first time this year, will be an opportunity for our companies to expand globally through the Federation of Korean-American Chambers of Commerce’s global network.” He added, “We will support efforts to showcase the competitiveness of excellent Seoul companies to the world and create opportunities for innovative products to expand their market overseas.”