Gyeonggi Province Shakes Hands with Motor Mecca Michigan
(October 1st, 2011)

Gyeonggi Province and Michigan State of the US sign cooperative memorandum on September 30^th
Discussions on establishment of a technical support center and complex for small & medium businesses

– Gyeonggi Province Governor Kim Moon-soo and Michigan State Governor Rick Snyder signed the Gyeonggi-Michigan Memorandum on Strategic Cooperation on September 30th at the Ramada Hotel Suwon. Talks of the memorandum first began when Governor Kim visited the United States in April. Governor Kim and Governor Snyder engage in friendly discussions at the event. (GNews Plus)

Home of international car manufacturers such as GM, Ford, and Chrysler, the State of Michigan and Gyeonggi Province are discussing the establishment of a technical support center and small and medium business complex.

Gyeonggi Province Governor Kim Moon-soo and Michigan State Governor Rick Snyder signed the Gyeonggi-Michigan Memorandum on Strategic Cooperation on September 30th at the Ramada Hotel Suwon in front of 200 business colleagues.

In his opening speech, Governor Kim said, “Michigan serves as the base for the Big 3 of the motor industry, and Gyeonggi Province is the base for Samsung, LG, and Hyundai. I believe the cooperation between the two regions will generate new jobs and become a base for the development of economic and corporate growth.”

Governor Snyder said, “Gyeonggi Province will be a great partner. Our cooperation will create new opportunities.”

The day’s events mark the culmination of Governor Kim’s visit to the United States in April. He went to Detroit where he formulated an idea to establish a cooperative relationship with Michigan, home of the world¡¯s automobile industry.

The signing of this memorandum will open up new business opportunities between both regions, including technology, service, export support, cooperative research, and professional personnel exchanges. As one of their first projects together, the regional leaders are discussing the establishment of a Gyeonggi-Michigan technical support center and a Gyeonggi Province small & medium business complex.

To realize these initiatives, they will continue active dialogue and collaboration while discussing detailed plans for visits by related specialists in the near future.

Michigan is home of the Big 3 in vehicle manufacturing – GM, Ford, and Chrysler – and 85 out of 150 North American part manufacturing companies are based in the state. The delegation from Michigan included representatives of GM, Ford, Chrysler, TRW, and other internationally recognized car manufacturers. They took part in a reception with Gyeonggi-based business representatives, showing great interest in future cooperation.

One Gyeonggi Province official remarked, “With the signing of this memorandum, our companies gain the opportunity to expand into the world’s center of vehicle manufacturing and upgrade their customer base while expanding their technological capabilities and competitiveness.

– As part of the initiatives outlined in the memorandum, Gyeonggi and Michigan will discuss the establishment of a technical support center and small & medium business complex. (GNews Plus)

On the same day, the Gyeonggi Province Small & Medium Business Center conducted its own event for expanding influence in the US market, which included an export agreement via the University of Texas’s corporate support program.

Governor Kim, University of Texas Vice President Robert Peters, and 120UT corporate support project participants were present at the event.

Four out of twelve companies that participated in this project attended the event to sign agreements with their current partner companies. They also attended a ceremony to convey best wishes for the success of the next program participants.

DGS Co., Ltd. (First selection), manufacturer of car brake pads, and KNR System INC. (second selection), a credibility test equipment manufacturer, were at the day’s event. Together they thanked the Gyeonggi Province UT Business Support Program for helping them expand their horizons, and donated KRW 2 million to the program.

Over USD 6.5 million were presented to small and medium businesses that participated in the Texas State University business support program over the past three years. As its achievements began to earn more recognition, 224 companies competed in the fourth year to become the one of the 15 select companies.

The following companies were selected in the fourth year: Vision Ride INC.; Polymerits; Sindo D&T; Bio Infra INC.; E&S System Co., Ltd.; Hana Plant Co., Ltd.; Hanlab, KDT Systems Co., Ltd.; KS Chemical Co., Ltd.; MI Tech Co., Ltd.; NC LED Co., Ltd.; Imjin ST Co., Ltd.; Jinsung Refrigerator Industry Co., Ltd.; Dongil Technology LTD.; and Enesol Co., Ltd.

Governor Kim said, “The University of Texas’s business support program has accomplished so much over the past three years since its launch in July of 2008. Despite the global recession, many of our companies were able to penetrate the US market and succeed as international businesses. We will continue to do our utmost to identify companies with great potential and technologies through the UT Program in order to discover global leaders.”

The UT business support program is geared to assist small and medium businesses make their way into the US market. Select companies with strong capabilities are evaluated by relevant technology companies in the University of Texas’s US network. Business strategies are then formulated, and each company is introduced to a partner company to help them advance into the US market.

The government signed an extended contract with the University of Texas for the business support program in October of 2010. The program will continue until September 2014. Each year, 15 companies will be selected and introduced to the US market.

– GNews Plus News | Roh Sun-ik rohsoon45@gmail.com

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