Expanding Gyeonggi Province’s Reach on the Global Stage: Governor Dong Yeon Kim's Sales Diplomacy, Startups and Innovation Drive

Gyeonggi Province, led by Governor Dong Yeon Kim, embarked on a whirlwind tour of the U.S. East Coast from October 15 to 21, 2024, with a...

Gyeonggi Province, led by Governor Dong Yeon Kim, embarked on a whirlwind tour of the U.S. East Coast from October 15 to 21, 2024, with a clear mission: support the global expansion of Gyeonggi startups, attract investment, and strengthen international cooperation. This marked Governor Kim’s third visit to the U.S., following the success of the 2024 Davos Forum, making this trip even more significant.

Day 1: Kicking Off the “Buy Gyeonggi” Project with a Visit to the Inter-American Development Bank (IDB)
The first day of the tour began at the headquarters of the Inter-American Development Bank (IDB) in Washington, D.C, where Governor Kim met with IDB President Ilan Goldfajn to discuss collaboration opportunities between Gyeonggi Province and the IDB.

An interesting icebreaker occurred when Governor Kim noticed a signed jersey from soccer legend Pelé displayed at the IDB, leading to a lighthearted conversation. As sports enthusiasts, Kim and Goldfajn, a native of Brazil, found common ground through their shared admiration for Pelé.

Governor Kim proposed various ways Gyeonggi and the IDB could collaborate, particularly in digital economy and climate tech sectors. He emphasized a triangular cooperation model between Gyeonggi, Latin America, and the IDB, aimed at strengthening digital transformation and climate tech cooperation. Additionally, youth exchange programs with Latin American countries were discussed, opening doors for Gyeonggi’s youth to gain international experience in the future.

Day 2: Strengthening Startup and Bio Industry Cooperation with Virginia’s Governor
On the second day, Governor Kim met with Virginia Governor Glenn Youngkin to solidify a strategic partnership between Gyeonggi Province and Virginia. They discussed collaboration in startup exchange, the bio industry, and the resumption of suspended policy dialogues.

Governor Youngkin expressed great interest in the proposed cooperation, particularly highlighting Virginia’s strength in AI, machine learning, and cybersecurity, areas ripe for collaboration with Gyeonggi. Virginia, known as the hub for 70% of U.S. internet traffic, offers a fertile ground for potential startup partnerships between the two regions.

Governor Kim also proposed strengthening research exchanges between universities in Virginia and Gyeonggi and expanding youth exchange programs, a suggestion that Governor Youngkin readily agreed to.

Collaboration with New York: Climate Change, Startups, and AI
The third day of the visit saw Governor Kim meet with New York’s first female governor, Kathy Hochul. Climate change was high on the agenda, with Kim proposing joint efforts between New York and Gyeonggi in addressing this global challenge. Governor Hochul responded positively, agreeing that cooperation between the two regions could contribute significantly to climate solutions.

Kim also emphasized Gyeonggi’s role as the home of 30% of Korea’s startups, including the renowned "Pangyo Techno Valley" known as "Korea’s Silicon Valley." He highlighted the potential for collaboration between New York’s and Gyeonggi’s startup ecosystems. Governor Hochul acknowledged New York’s current struggles with manpower shortages and issues with capital and energy supplies, noting that partnership with Gyeonggi could help address these challenges.

Strengthening Ties with Korean Entrepreneurs in the U.S.
During his visit, Governor Kim also made strides in supporting Gyeonggi startups by attending the signing of an agreement with the United Korean Founders (UKF), a U.S.-based network of Korean entrepreneurs. The agreement promises support for building startup ecosystems and assisting Gyeonggi startups in entering the U.S. market.

Governor Kim reiterated his commitment to transforming Gyeonggi into a "startup paradise," stressing the importance of fostering a robust startup ecosystem. He outlined three core strategies: clustering, networking, and globalization. Gyeonggi Province plans to expand its startup hubs, including the existing 20 ecosystems like Pangyo, not only to create more startups but also to generate new career opportunities.

Startups Are the Future of Gyeonggi’s Economy
Governor Kim’s U.S. tour laid crucial groundwork for boosting the global reach of Gyeonggi’s startups and enhancing cooperation with the U.S. East Coast. The collaborative efforts in key sectors - such as startups, bio industries, AI, and climate change - will likely become pivotal growth drivers for Gyeonggi’s future economy.

Stay tuned for more updates on Governor Kim and Gyeonggi’s ongoing global endeavors, and continue supporting these exciting developments! 😊

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