News from our Seoul office
Ambassador hosts FCEDA business networking reception
The Fairfax County EDA partnered with the U.S. Commercial Service (part of the Department of Commerce) and the Global SMEs Business Council (GSBC) to present an April 24 business networking reception at the residence of Harry Harris, the U.S. ambassador to South Korea. This marked the third time the FCEDA partnered with the Commercial Service to host Korean companies at the U.S. ambassador’s home.
Harris welcomed more than 80 guests representing about 70 companies. The ambassador took time to praise Fairfax County for its business environment, strong education system and its support to the more than 60 Korean companies doing business in the county.
Executives from Korean companies with U.S. operations — including those with operations in Fairfax County – participated in the event along with representatives from companies considering expansion to the U.S.
Andrew Yu, the FCEDA business development manager for Asia, welcomed the guests and highlighted the business environment of Fairfax County and advantages of doing business there. Charles Kim, director of the FCEDA Seoul office, played an integral role in planning the event.
FCEDA holds meetings with Korean data companies
The FCEDA conducted a 1-on-1 business meeting event with Korean data companies in partnership with the Korea Data Agency in Seoul on April 23.
Andrew Yu, the FCEDA’s Asia business development manager, and Charles Kim, director of the FCEDA’s Seoul office, held meetings with Korean data-related companies. Beyond business expansion to the U.S. market and opportunities in Fairfax County, the FCEDA team specifically discussed developing deep learning and big data technology, an industrial information service platform for the global ICT and manufacturing industries, and wearable devices for recovery of eyesight.
The Korea Data Agency (Kdata) is a government agency that supports data-related companies’ growth and business expansion to the global market. Established in 1993, Kdata promotes the data industry in Korea under the Ministry of Science and ICT and cooperation with data-related ICT organizations and institutions around the world including the FCEDA.
Opentrade provides forum for 1-on-1 meetings with high-tech firms
In April, the FCEDA’s Andrew Yu and Charles Kim conducted 1-on-1 business meetings with high-tech SMEs and startups in partnership with Opentrade, which is providing the first crowdfunding platform service in Korea. The discussions centered around specific business plans for the U.S. market and setting up business operations in Fairfax County.
“It was very meaningful for startups who are expanding their business to the U.S. market to discuss feasibility of their business model and to get advice about the process to enter into the U.S. market,” said Yong-Gi Ko, CEO of Opentrade.
Opentrade has connected with about 10,000 startups and 60,000 angel investors, and completed close to 80 deals with its platform during the last three years. Companies who have received crowd funding have included developers of everything from fuel cell power packs for drones to eco-friendly cosmetics.
The FCEDA discussed each company’s business plan in relation to the U.S. market, business opportunities on the East coast, and the benefits of establishing their U.S. operations in Fairfax County.
Yu and Kim provide info at KISIA seminar
On April 26, the FCEDA’s Andrew Yu and Charles Kim participated in the Korea Information Security Industry Association (KISIA) Round Table to introduce Fairfax County to Korean cybersecurity companies and discuss possible business expansion to the U.S. market. They noted that the FCEDA is always available to assist committed firms.
The leading cybersecurity companies that participated in the round table were active in fields including network security, database security and Total Internal Information Outflow Prevention Systems and also active in global B2B and B2G markets.
Yu and Kim highlighted the positive business environment for growing cybersecurity firms and business opportunities for Korean cybersecurity companies in Fairfax County.
Strategy pays off for REAN Cloud, now part of Hitachi Ventura in Fairfax County
REAN Cloud, an Amazon Web Services premier consulting partner, recently announced it is growing its operations in Fairfax County.
A cloud-native firm with deep experience supporting enterprise IT infrastructures and applications, REAN got its start in 2016 as an AWS partner with the strategy to exit in five years. It executed that strategy and was acquired by the Japanese firm Hitachi in late 2018. REAN Cloud is now part of Hitachi Ventura.