KOTRA Opens 'GP Center' in Austin to Support Semiconductor SMEs and Mid-sized Companies Entering the US Market

Providing Customized Local Entry Programs for Companies Expanding into the US

The Korea Trade-Investment Promotion Agency (KOTRA) held an opening ceremony for the Austin Semiconductor Global Partnering (GP) Center in Austin, Texas, USA, on the 27th. The Austin Semiconductor GP Center is a facility that supports the smooth entry of domestic small and medium-sized semiconductor companies into the U.S. market. Its purpose is to systematically support the integration into the semiconductor global value chain (GVC).

The event was attended by about 40 key figures, including Yoo Jung-yeol, President of KOTRA; Jung Young-ho, Consul General of the Republic of Korea in Houston; Adriana Cruz, Director of the Texas Economic Development Department; William Gravel, Williamson County Judge; Brent Riedel, Mayor of Taylor; and Mark Thomas, President of the Taylor Economic Development Corporation.

Austin, Texas, nicknamed "Silicon Hills," is a region where investments and local factory expansions by various semiconductor companies, including Samsung Electronics, are increasing, based on its tech-friendly environment, low tax rates, and low cost of living. With the U.S. government announcing the Chips Act semiconductor support policy, the entry of domestic companies into the U.S. market is expected to become more active.

KOTRA explained that unlike large corporations that can enter the global market independently, domestic small and medium-sized enterprises (SMEs) in the semiconductor materials, parts, and equipment (SoBuJang) sector face various difficulties such as permits and approvals, environmental regulations, and labor and personnel issues. Therefore, the Austin Semiconductor GP Center will support shared office rent, professional consulting for local settlement, and global marketing, providing customized local entry programs tailored to each resident company.

Additionally, agreements to strengthen mutual economic cooperation were signed with the Texas state government and Williamson County, which includes Austin, to establish an efficient support system. The plan is to build an efficient support system that simplifies procedures and unifies inquiry channels when domestic companies invest and enter the local market.

Yoo Jung-yeol, President of KOTRA, said, “Following the recent announcement of the U.S. semiconductor support law, the demand for North American entry by domestic semiconductor SoBuJang companies has increased, but independent entry has not been easy. Through the opening of the Austin Semiconductor GP Center, we will actively support it to become a foothold for domestic small and medium-sized semiconductor companies considering entry into the U.S. market.”