Martial Arts, Dallas Office Opened... Establishing a Base in the US Mid-South Region

"Playing a Pivotal Role in the Entry of Korean Companies into Texas"

On the 1st (local time), the Korea International Trade Association (KITA) announced on the 2nd that it has opened an office in Dallas, Texas, the logistics, finance, and industrial hub of the U.S. South Central region, to support the local expansion of Korean companies.

Yoon Jin-sik, Chairman of the Korea International Trade Association (KITA). Photo by Korea International Trade Association [Image source=Yonhap News]

The KITA Dallas office will oversee the South Central and Western U.S. regions, including Texas, Georgia, and California. Through providing local market entry information and operating support programs to create business opportunities between companies from both countries, it is expected to invigorate local exports and investments by domestic companies.

The opening ceremony was attended by 50 people, including U.S. Representative Beth Van Duyne, Texas Secretary of State Jane Nelson, Consul General Jung Young-ho in Houston, as well as officials from both governments, related organizations, and business representatives.

At the opening ceremony, KITA Chairman Yoon Jin-sik said, "Texas is one of the fastest-growing and most dynamic states economically in the U.S., with fewer regulations on business activities and no personal income tax or corporate tax, leading to active investments by multinational companies including Korean firms." He added, "The Dallas office will play a pivotal role in strengthening the entry of Korean companies into Texas and cooperation with local businesses."

He continued, "Korea is one of Texas’s top five trading partners, contributing to regional economic growth in various aspects such as employment, investment, and exports," and requested continuous attention and support from the state government to create a stable investment environment for Korean companies.

As of last year, Korea ranked as Texas’s fifth largest export destination and sixth largest import source, with trade volume between the two regions reaching approximately $32 billion (about 44.304 trillion KRW). As of April, Texas hosts 270 Korean companies, the second largest number after California (600 companies).

KITA plans to hold a meeting on the 8th in Seoul, inviting Texas Governor Greg Abbott, to support networking between Korean companies and key economic figures from Texas.