Growing Economic Ties Between Arkansas and South Korea

In July of 2005, my wife Heather and I flew into Incheon International Airport just outside of Seoul, South Korea to work for a year as English teachers. We had heard from a couple at our church that they had a great experience teaching in Korea, and we thought it would be a great opportunity to see the world.

Although it took a little while to acquire a taste for kimchi, it didn’t take long at all to fall in love with Korea. The year we spent in Korea was incredible. Outside of work, we travelled all over the country, from Busan to the DMZ, from the T'aebaek Mountains in the east to all over Seoul. We found Koreans to be hospitable and welcoming and full of grit and innovation.

In the past 70 years, Korea has become one of the most developed and industrialized countries in the world. The story of the country’s economic growth is inspiring. I’ve been looking forward to travelling back to Korea for a long time, and earlier this month, I got the chance to do so. Just like my year as an English teacher exceeded my expectations, this trip did as well.

South Korea holds a special place in my heart for many reasons. One reason is that it was in Korea that I started my journey toward becoming an economic development professional. There was a master’s degree program at the University of Central Arkansas in Community and Economic Development that offered correspondence courses, so I decided to start the program from Korea. From sitting in my apartment in Korea taking classes about economic development, I never dreamed that I would come back as a part of a Governor’s trade mission – meeting with company executives and government officials at the highest levels.

Korea is Arkansas’ #8 largest trade partner. In 2022, Arkansas exported more than $141 million in goods to Korea. Additionally, innovative companies from Korea are making significant investments in the United States, and we’re working to put Arkansas on the radar for upcoming opportunities.

In addition to attending the InterBattery Show, our team from Arkansas spent several days covering a lot of ground in Korea. We spent time in Seoul, Busan, and Andong. We had the opportunity to make a case for Arkansas to several prospects that are considering an investment in the United States: we have a low cost of doing business, a great workforce, a high quality of life, and companies that are finding success in their industries in Arkansas.

In our meeting with Kiswire, we had the chance to learn about their history and how their Pine Bluff facility fits into their global operations. It was a real treat to walk through their headquarters building in Busan, at the former location of their first factory. In Andong, we spent time with Governor Lee, learning about his initiatives in Gyeongsangbuk-do and talking about all the things that we have in common. Our last meeting in Korea was very special. I had an opportunity to be in the room as Governor Sanders met with His Excellency Yoon Suk Yeo, President of the Republic of Korea. The two leaders discussed areas of cooperation between Arkansas and Korea – and there are many.