Fairfax County Economic Development Authority President and CEO to Visit Korea to Showcase U.S. Market Expansion Opportunities for Businesses and Start-ups
Fairfax County, Virginia, U.S.A, and Seoul, Korea (April 19, 2022) – Fairfax County Economic Development Authority (FCEDA) President and CEO Victor Hoskins will be visiting South Korea for the first time to showcase opportunities for Korean companies looking to expand their presence into the U.S. market. FCEDA International Business Investment Manager Christy Youk will join Mr. Hoskins on this trip, and they will be attending events and visiting companies one-on-one in Seoul April 24-27, 2023.
Fairfax County, Virginia, is located just minutes from Washington, D.C., the capital city of the United States, and is known as the innovation and tech hub of the U.S. east coast. FCEDA has served as a go-to resource for Korean companies interested in expanding into the U.S. market since 2004. More than 80 Korean companies currently maintain offices in Fairfax County, including Dongwon Group, WireBarley, SK Signet, Golfzon and Korean Aerospace Industries.
“Fairfax County offers an unmatched point of entry to the U.S. market and a strategic location to support long-term business growth for both established companies and start-ups,” said FCEDA President and CEO Victor Hoskins. “We are located at the heart of Northern Virginia, right outside of Washington, D.C., and are the economic engine of our regional economy valued at $228 billion, making us the 46th largest economy in the world,” he continued. “To support Korean companies in their global expansion efforts, we offer a best-in-class experience of customized and confidential soft-landing services for a successful entry into the U.S. market.”
While in Seoul, Mr. Hoskins and Ms. Youk will speak at the Korea Public Procurement Expo 2023 (KOPPEX 2023) on April 26, 2023, about the government contracting opportunities in the U.S. In Fiscal Year 2022, companies located in Fairfax County were awarded more than $34 Billion in U.S. government contracts. The FCEDA delegation will also participate in joint seminars with Songpa-gu Office (송파구청), GCCEI (경기창조경제혁신센터), KOSA (한국소프트웨어산업협회), SID Partners (SID 파트너스) in Songdo, and IBK Changgong (IBK 창공) during the trip between April 24-27.
This visit to Seoul is Ms. Youk’s third trip to South Korea on behalf of the FCEDA. During this visit, she will seek to further strengthen FCEDA’s ties with companies interested in expanding to the U.S market.
“I am delighted to be back in Korea to continue our dialogue with Korean companies and start-ups wanting to enter the U.S. market,” said Ms. Youk. “I am excited to share how Fairfax County’s ideal location; our supportive economic environment that fosters start-ups; and our desirable quality of life can offer the perfect entry point for Korean businesses.”
With its proximity to Washington, D.C., companies with a presence in Fairfax County have convenient access to the U.S. federal government – the largest customer in the world – as well as international financial institutions, legal experts, and the international diplomatic community. This hub of technology and innovation on the U.S. East Coast provides an affordable yet strategic alternative to competitors. It offers a time zone that makes working globally more efficient and links to global markets through Washington Dulles International Airport, with hundreds of non-stop flights to domestic and global destinations, including Incheon International Airport.
Fairfax County’s robust global business community features 9 Fortune 500 headquarters; leading government contractors; more than 8,800 technology businesses; and global headquarters for companies such as Hilton, Mars, and Northrop Grumman. The region specializes heavily in information technology, cybersecurity, financial services, government, and defense technology, and more.
Fairfax County also provides access to highly skilled talent, a diverse pool of international workers and a highly desirable quality of life. A sizable Korean population makes Fairfax County an excellent choice for Korean businesses looking to relocate workers and settle into the U.S. Nearly one-third of the county’s population is international and diversity and inclusion in the workplace remain a top priority here.
About Fairfax County Economic Development Authority (FCEDA)
FCEDA has maintained an office in South Korea since 2004 and serves as a go-to resource for companies interested in expanding into the U.S. market. The FCEDA’s office in Seoul also serves other Pacific Rim countries. In addition to its headquarters in Tysons, Fairfax County’s largest business district, FCEDA maintains business investment offices in six important global business centers: Bangalore/Mumbai, Berlin, London, Los Angeles, Seoul, and Tel Aviv. Whether a company is in need of assistance with financial services, offshore bank accounts, company formation, or have international trade questions, FCEDA is here to help.