Scottsdale, AZ (PRWEB) December 01, 2011
During the “Building Strategic Partnerships with Korea” Conference on Thursday, November 17, 2011, Todd Hardy, Associate Vice President of ASU SkySong, and Wonsok Yun, Director General of the Korea Trade-Investment Promotion Agency, Los Angeles (KOTRA-LA) signed a letter of intent to begin a relationship between the two organizations that will facilitate global soft landing services for Korean companies entering the North American market and US companies entering Korean markets.
The signing of this letter of intent signals both parties’ interest in offering reciprocal, mutually beneficial services to companies seeking expansion into new US markets. This new alliance between ASU SkySong and KOTRA will enable both entities to expand their international business services. Given its proximity to major southwestern markets and populations and the economic feasibility of acquiring business space and alliances, Arizona is a strategic business choice for Asian companies looking to launch in the US market.
This relationship is also a strategic choice for Arizona State University. Students from Korea represent a large portion of the ASU student population. Korea is ranked number three in the top Asian populations represented within ASU’s student body.
“Through this relationship, we aim to further promote inbounding Korean enterprises to be successful US businesses and ultimately boost the economy in the State of Arizona,” said Yun. “With the passing of the Korea-US Free Trade Agreement, now is the perfect time for businesses to expand globally and KOTRA and ASU SkySong will help businesses reach that goal.”
KOTRA will work with the Korean business sector to select small and medium sized businesses that are ready to move a portion, or all, of their business operations into the US. Once these companies are ready to move, ASU SkySong is poised to incubate them, launch them into the US market and help them grow.
“SkySong works to drive economic development in local and international economies by offering soft landing services to international companies looking to gain entry in US markets,” said Hardy. “This alliance is a natural fit for our organization, and we look forward to deepening our relationships with KOTRA, and Korean businesses. There is nothing more important than sharing and building technology together.”
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About ASU SkySong (skysong.asu.edu):
Arizona State University’s SkySong exists to make an economic impact in the local, state and international markets by driving economic development and global enterprise. ASU SkySong helps grow the economy by launching and accelerating new companies and promoting use inspired research, in collaboration with local communities, state government, and business partners. ASU SkySong, and the dozens of emerging innovation driven companies located there, are dedicated to positively impacting the economies of our state and the country for years to come.