A delegation from Gyeonggi Province, led by Gyeonggi Province Governor Dong Yeon Kim, will visit the eastern United States, including Virginia and New York, for five days and seven nights from October 15 to 21 to support global expansion by startups, attract investment and strengthen international exchanges and cooperation.

Governor Kim’s visit to the U.S., the third since he took office, is significant as it is the result of his participation in the 2024 Davos Forum (World Economic Forum Annual Meeting), Gyeonggi Province said.

Governor Kim was the only government official invited to the Innovator Community Session at the Davos Forum in Switzerland in January, where he networked with global startups. The Innovator Community Session is a signature event of the Davos Forum where startups from around the world share information. Governor Kim also hosted a special session called “Gyeonggi and the Innovators,” which was prepared by the Forum organizers in response to requests from unicorn companies (unlisted startups with a company value of over KRW 1 trillion and less than 10 years in business) that participated in the Davos Forum. Governor Kim requested investment from Gyeonggi Province for the seven startups that participated in the session, and this time he came at the invitation of Saeju Jeong Se-ju, Chairman & Co-Founder of NOOM, a Korean-American unicorn company that also participated in the session.

Accordingly, 31 people from 22 startups in Gyeonggi Province will accompany the Gyeonggi Province delegation for the signing of an agreement with the United Korean Founders (UKF) to support the mutual promotion of startups between Gyeonggi Province and America. The UKF is a non-profit organization established by Korean entrepreneurs in America to support the creation of a startup ecosystem.

They will also participate in the 2024 NYC Startup Summit organized by the UKF, providing Gyeonggi startups with opportunities to secure global investment and spread the message that Gyeonggi Province offers an ideal environment for the growth of startups.

The visit is also expected to lead to substantial investment. A company, a global leader in industrial safety certification, and B, a foreign-invested company in a logistics center and development platform, are pursuing investment agreements.

In the field of international exchange and cooperation, Governor Kim will meet with the governors of Virginia and New York to strengthen practical cooperation in high-tech industries.

Virginia is home to manufacturing and high-tech industries as well as major data centers, and Governor Kim will meet with Virginia Governor Glenn Youngkin to discuss innovation alliances in Gyeonggi’s strategic industries and future growth sectors such as startups and biotech.

Another meeting will facilitate exchanges with New York State, a representative region for startups. Governor Kim plans to propose to New York Governor Kathy Hochul material support for the startup sector, human and technology exchanges, and economic cooperation between Gyeonggi Province and New York State.

A Gyeonggi Province official said, “This visit is aimed at strengthening exchanges and cooperation in the eastern part of North America, expanding the economic sphere of advanced industries, and attracting investment… In particular, it is significant in providing opportunities for startups in Gyeonggi Province to enter the global market.”