The Wisconsin Economic Development Corp. (WEDC) and the Wisconsin Alumni Association in Korea are partnering to expand opportunities for trade between the state and ones of its biggest foreign trade partners, according to a Wisconsin Public Radio report.
Under an agreement signed last month, the partnership encourages Korean investment in Wisconsin and provides connections for the state’s businesses with partners and customers abroad. Wisconsin is also being promoted as a welcoming destination for Korean students.
South Korea is Wisconsin’s fifth-largest trade partner. Last year, Wisconsin companies exported over $653 million in products to South Korea, a 14.5% increase over the previous year. South Korea is one of the five countries that together take in about 65% to 70% of Wisconsin’s total exports.
