KACCLA delegation visits Gyeonggi-do Provincial Government on October 21 to discuss Gyeonggi SMEs’ expansion to the U.S.

◇ Gyeonggi Governor Kim Moon-soo met with the Korean American Chamber of Commerce of Los Angeles (KACCLA) delegation that visited the Provincial Government on October 21 to discuss Gyeonggi SMEs’ expansion to the U.S. ⓒ Gyeonggi G-News Yoo Je-hoon

Gyeonggi Governor Kim Moon-soo met with the Korean American Chamber of Commerce of Los Angeles (KACCLA) delegation on October 21 to discuss cooperation plans for Gyeonggi SMEs’ expansion to the U.S.

This visit to the Provincial Government by the KACCLA delegation is due to the Governor Kim ‘s meeting with KACCLA President Kenny Park during his visit to the 40th LA Korean Festival that took place in Seoul Park, LA, back on September 26.

In the meeting, Governor Kim and President Park discussed cooperation plans for Gyeonggi SMEs’ expansion to the U.S. as well as the upcoming event of the 2014 KACCLA Gala.

KACCLA was founded in 1971 to protect the rights and interests of Korean business people in LA and create profits. It has held a business expo every March since then to conduct various activities for Korean firms that desire market expansion to the U.S. by introducing them to the U.S. market and connecting buyers.

During the talk that day, they discussed cooperation plans for product display and recruitment of Gyeonggi firms with regard to the Latin Expo (worth USD 20 billion) that will take place in Linboo, 20-30 minutes away from LA, in February 2014.

The Latin Expo was held successfully at the Mexico Plaza last year with 60 firms in participation, and the Mexican government is currently showing interest and will actively provide support.

The Gyeonggi Small & Medium Business Center (GSBC) will receive related materials of the Latin Expo from the KACCLA, after which it will recruit participants among Gyeonggi SMEs and carry out promotional activities.

Gyeonggi expects the participation in the Expo to maximize the synergy effect of overseas market expansion on necessary products and technologies of Gyeonggi SMEs in the U.S. and Mexico.

“If this is scheduled for next February, we must have plans already to recruit participating SMEs,” said Governor Kim. “Business owners are most aware of what they need to do in relation to overseas expansion.” He went on to elaborate on the matters for which Gyeonggi can provide support, as well as the potential of Gyeonggi SMEs for market expansion to the U.S.

“Not many Latinos participated in the previous Expo,” said President Park. “This year we are planning to hold the event in the area more densely populated by Latinos. Currently the Mexican government is showing enthusiasm in their possibility to provide support. I hope Gyeonggi’s strong textile industry grows and successfully expands into the U.S.”

◇ “I hope the Korean-American society of Los Angeles maintains a close relationship with Gyeonggi Province and develops politically to act as a bridge for communication between Korea and the U.S.,” said Governor Kim. ⓒ Gyeonggi G-News Yoo Je-hoon

The textile industry in Gyeonggi Province is growing especially in fiber processing and fabric such as knitted products. It is receiving excellent reviews from other countries as well in terms of price and quality. However, the consumption of Korean products is still not growing significantly due to the relatively high price of fabric compared to products of China. There were efforts after the FTA to secure competitiveness by lowering the domestic fabric prices, but the Chinese fabric prices also dropped autonomously, leaving no difference.

The labor costs in LA are lower than those in New York, assuring high profitability even if the factory is operated locally. Thus there is active consumption of clothes that can be produced using simple materials such as T-shirts. On the other hand, New York requires high labor costs and thus imports clothes produced in China. Thus there are many expensive fabrics and clothes.

“If Gyeonggi textile industry grows with maximized benefits and adjust the prices at the optimum level, it is highly likely to succeed in the U.S. market,” said Park. 

Governor Kim responded,“Overseas market expansion is worth the challenge. Hidden efforts are required to make accomplishments, and the most important thing is performance along with the process.” 

He asked,“I hope the Korean-American society of Los Angeles maintains a close relationship with Gyeonggi Province and develops politically to act as a bridge for communication between Korea and the U.S..” 

In this meeting, Governor Kim also added that he is willing to provide the translation of the summary of The Diary of a Comfort Facility Keeper of the Japanese Army in Glendale, California where Girl’s Statue of Peace is located.

◇ Governor Kim and the KACCLA delegation are taking a commemorative photograph in the Governor’s Office of the Provincial Government on October 21. ⓒ Gyeonggi G-News Yoo Je-hoon

ⓒGyeonggi G-News | Lim Se-jin yh48635@nate.com

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