November 22, 2024

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KITA Chairman Yoo Jin-sik (fourth from left), Mayor of Plano, Texas John B. Muns (second from left), and other officials from South Korea and the US pose for a photo to celebrate the opening of KITA’s new US office in Dallas, Texas on Monday. (KITA)

The Korea International Trade Association announced Tuesday the opening of its new US office in Dallas, Texas.

The opening event held on Monday was attended by 50 dignitaries and representatives from both governments and related businesses, including KITA Chairman Yoon Jin-sik, Texas Secretary of State Jane Nelson and Consul General of the Republic of Korea in Houston Jung Young-ho.

The Dallas center, which aims to support trading issues of Korean firms from their market entry to building local networks, will cover regions in the south and west of the US, including Texas, Georgia and California.

KITA highlighted that the establishment of the center in Dallas, a central hub for logistics, finance and other industries in the south-central US, will play an active role in bolstering the presence of Korean companies there.

"Texas is an advantageous investment destination for multinational corporations, with minimal business regulations and no personal or corporate income taxes. The new Dallas center will help Korean businesses enter the Texas market and foster their collaboration with local enterprises," noted Yoon.

As of 2023, Korea is the fifth-largest export market and sixth-largest import source of Texas, with the bilateral trade volume amounting to approximately $32 billion. By April this year, 270 Korean companies had set up operations in Texas, making it the state with the second-highest number of Korean businesses after California.

Meanwhile, KITA is to host a meeting with Texas Governor Greg Abbott next Monday in Seoul to establish networking between Korean companies and key economic figures from Texas.

By Kim Jun-hong (hongie@heraldcorp.com)