SkySong, Korean trade agency help bring business to US

During the “Building Strategic Partnerships with Korea” conference, Todd Hardy, associate vice president of ASU SkySong, and Wonsok Yun, director general of the Korea Trade-Investment Promotion Agency (KOTRA), Los Angeles, signed a letter of intent that will facilitate soft landing services for Korean companies entering the North American market and U.S. companies entering Korean markets.

The letter of intent signals both parties' interest in offering reciprocal, mutually beneficial services to companies seeking expansion into new markets. This new alliance between ASU SkySong and KOTRA will enable both entities to expand their international business services.

Given its proximity to major southwestern markets and populations, and the economic feasibility of acquiring business space and alliances, Arizona is a strategic business choice for Asian companies looking to launch in the U.S. market.

It also is a strategic choice for ASU. Students from Korea represent a large portion of the ASU student population. Korea is ranked third in Asian populations at ASU.

“Through this relationship, we aim to further promote inbounding Korean enterprises to be successful U.S. businesses and ultimately boost the economy in the State of Arizona,” said Yun. “With the passing of the Korea-U.S. Free Trade Agreement, now is the perfect time for businesses to expand globally and KOTRA and ASU SkySong will help businesses reach that goal.”

KOTRA will work with the Korean business sector to select small- and medium-sized businesses that are ready to move a portion, or all, of their business operations into the United States. Once these companies are ready to move, ASU SkySong is poised to incubate them, launch them into the U.S. market and help them grow.

“This alliance is a natural fit for our organization, and we look forward to deepening our relationships with KOTRA and Korean businesses,” Hardy said. “There is nothing more important than sharing and building technology together.” 

Meagan Garrett, meagan.garrett@asu.edu
(480) 884-1814