LOS ANGELES, CA — The LosAngeles Area Chamber of Commerce announced today that it has expanded trade opportunities for local business by signing a Memorandum of Understanding (MOU) with the Korea Trade-Investment Promotion Agency (KOTRA) to promote trade and investment between L.A. and Seoul.
As part of the agreement, the L.A. Area Chamber and KOTRA will encourage, promote and organize trade missions, matchmaking, and networking opportunities for businesses based in Los Angeles and Seoul.
“This MOU serves to promote trade between L.A. and Seoul,” said L.A. Area Chamber Senior Vice President of Global Initiatives Carlos J. Valderrama. “In order to continue L.A.’s economic recovery, we must embrace international trade opportunities such as this one, which is important to our economy.”
Government officials from California and Korea were on hand to witness the signing of the MOU, which took place during a special signing ceremony at the Chamber.
“KOTRA has been serving the Los Angeles business community for the last 50 years. I believe today’s MOU will expand more business opportunities in our respective regions especially with KOREA-US Free Trade Agreement taking full effect,” said Senior Executive Vice President of KOTRA Sung-Keun Oh. “Our partnership will not only strengthen the economic relationship, it will also create global competitiveness and innovation. KOTRA is looking forward to working closely with the Los Angeles Area Chamber of Commerce on this exciting venture for the next 50 years and more to come.”
The partnership with Korea serves as another important addition to the Chamber's strategic alliances with the Nagoya Chamber of Commerce, AmCham Chile, the High Council of Chambers of Commerce of Spain, Consejo Empresarial Mexicano (COMCE) and the Korean International Trade Association (KITA).
The L.A. Area Chamber recognizes that the future of our economy is tied to international trade. The Chamber's Global Initiatives Committee fosters the development and access to foreign markets for local companies and provides global matchmaking services to foreign entities seeking U.S. joint venture partners, distributors and retailers.
The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.