Incheon City Signs Agreement with Largest Korean-American Business Association in the US to Foster 'Hansang Business Hub'

Incheon City has decided to join forces with the largest Korean-American business organization in the United States to build a Korean business (Hansang) network.

During his business trip to the U.S., Incheon Mayor Yoo Jeong-bok signed a "Business Agreement for Fostering Hansang Business Hub and Economic Exchange Cooperation" on the 10th (local time) in Los Angeles with Lee Kyung-chul, president of the Federation of Korean Associations, USA (FKAA).

According to the agreement, the two organizations will cooperate to ▲ facilitate investment mediation and export expansion among local companies ▲ promote exchanges for economic development including support for economic cooperation and investment attraction activities ▲ establish a cooperative relationship to attract the 22nd World Korean Business Convention to Incheon ▲ build a network between Incheon City and Korean businesses.

The Federation of Korean Associations, USA represents Korean Chambers of Commerce active in 78 cities across the United States and celebrated its 43rd anniversary this year. It is also a co-host of the 21st World Korean Business Convention, held for the first time overseas this year in LA.

Mayor Yoo said, "Incheon aims to become a global business hub city for Koreans worldwide," adding, "I ask for your interest and support in Incheon to build a Korean business network among overseas Koreans so that more developmental opportunities can open up."

In response, President Lee said, "We are well aware of Incheon City's efforts for the development of overseas Koreans and the Republic of Korea," and added, "We welcome the expansion of economic exchanges for overseas Koreans and will actively cooperate to achieve Incheon's goals."

Mayor Yoo plans to attend the opening ceremony of the 21st World Korean Business Convention held at the Anaheim Convention Center on the 11th and engage in activities to attract the 22nd convention to Incheon next year.

Incheon Mayor Yoo Jeong-bok and Lee Kyung-chul, President of the Federation of Korean-American Chambers of Commerce in the U.S. (left), are taking a commemorative photo with attendees after signing a business agreement.
[Photo by Incheon City]

Meanwhile, on the afternoon of the same day, Mayor Yoo visited Burbank City and met with Mayor Konstantine Anthony to discuss ways to promote exchange and cooperation between the two cities. Burbank has been Incheon’s first sister city since 1961. Burbank is famous for housing many media and entertainment companies such as Warner Bros., Warner Music Group, Paramount, and The Walt Disney Company.

The two mayors shared current issues of their cities and agreed to strengthen youth exchanges and cultural content cooperation, especially after COVID-19.

Mayor Yoo introduced Incheon’s Free Economic Zone, international airport, and investment environment, saying, "Incheon, a hub city for 7.5 million overseas Koreans and a city leading the future of the Republic of Korea, will grow into a world-class city where education, culture, and tourism harmonize," and added, "I hope sustainable exchanges between the two cities continue in various fields such as culture and tourism."

Mayor Konstantine Anthony stated, "We look forward to resuming youth exchange programs that have been promoted with Incheon City and to more active exchanges in various fields including cultural content projects."

This content was produced with the assistance of AI translation services.