DAEGU < invest Korea

According to Yonhap News,

Daegu-si opened an office in Los Angeles (LA), USA, to support the overseas expansion of local companies.

It is the third overseas office of Daegu-si after Shanghai, China, and Ho Chi Minh City, Vietnam.

The city held its office opening ceremony at the KOTRA Trade Center in LA on September 28, with more than 30 distinguished guests.

The city opened its office in LA in consideration of the continued demand from local companies for support, as the US market is the second largest export market.

Daegu's export to the US has been on the rise, from USD 911 million in 2020, USD 1.386 billion in 2021, USD 1.71 billion in 2022, and USD 1.72 billion in 2023.

In particular, the city factored in the importance of the city as LA is the largest city in the western US, the largest manufacturing city in the US, and 330,000 Koreans, more than 16% of the total 2 million Koreans residing in the US.

With the opening of its office in LA, the city expects expansion of Daegu's global business and exchanges.

Daegu-si plans to step up its effort to support international trade of local companies, with scheduled opening of an additional overseas office in Chengdu, China at the end of this year.

duck@yna.co.kr

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Source: Yonhap News (September 28, 2024)