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New Partnership Aims to Expand Opportunities Between Wisconsin and South Korea

Wednesday, March 15th, 2023 -- 9:01 AM

(By Joe Schulz, Wisconsin Public Radio) A new partnership aims to expand opportunities between Wisconsin and one of the state’s biggest foreign trade partners.

According to Joe Schulz with Wisconsin Public Radio, the Wisconsin Economic Development Corp., or WEDC, and the Wisconsin Alumni Association in Korea signed an agreement last month to promote the state both as a good place to do business and as a welcoming destination for Korean students.

The partnership will also encourage Korean investment in Wisconsin and provide connections for the state’s businesses with partners and customers abroad. South Korea is Wisconsin’s fifth-largest trade partner, according to WEDC Secretary Missy Hughes.

She said South Korea imports everything from agricultural products to medical and industrial equipment. Last year, Wisconsin companies exported over $653 million in products to South Korea, an increase of 14.5 percent from the previous year.

South Korea is one of the five countries that together take in about 65 to 70 percent of Wisconsin’s total exports, which contributed to a second consecutive year of record exports.

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