New Jersey Governor Phil Murphy Seeks to Expand Economic Relations with South Korea During Nine-Day Mission

Seoul - New Jersey Governor Phil Murphy stated Wednesday that his state aims to bolster economic ties with South Korea, identifying New Jersey as a prime location for investment due to its high-skilled workforce and proximity to New York. Murphy is currently leading a 50-member delegation on a nine-day economic mission to South Korea and Japan, meeting with business leaders, government officials, and startups. In an interview with Yonhap News Agency, Murphy termed the U.S.-South Korea relationship as "among the most important in the world," particularly in the current global climate marked by various geopolitical challenges.

More than 100 South Korean companies, including giants like Samsung Electronics, have their North American headquarters in New Jersey. Governor Murphy emphasized that the state offers an array of resources for South Korean firms, including high-skilled engineers and a welcoming environment for international residents. New Jersey has a Korean population exceeding 100,000, the third-largest in the U.S. and the highest concentration per capita.

Murphy also intends to strengthen people-to-people relations and educational exchanges between New Jersey and South Korea. Last year, he signed legislation mandating the inclusion of Asian American and Pacific Islander history in New Jersey school curriculums. During his trip, Murphy plans to meet top executives from major companies such as Samsung Biologics, LG Electronics Inc., and CJ Group to discuss cooperation in various sectors like bio, pharmaceuticals, life sciences, technology, telecom, and energy. Earlier in the day, New Jersey signed a memorandum of understanding with Seoul to enhance bilateral cooperation in multiple areas including the economy, education, science, and culture.

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