SEOUL - The city government of Seoul announced the signing of a Memorandum of Understanding (MOU) with the state of New Jersey on Wednesday. The agreement was signed by Seoul Mayor Oh Se-hoon and New Jersey Governor Phil Murphy and aims to enhance bilateral cooperation across multiple sectors.
According to Yonhap News Agency, the MOU will facilitate human and information exchanges in sectors including economy, education, science, and culture. Both Seoul and New Jersey have agreed to jointly pursue initiatives aimed at fostering partnerships in trade and investment, and to create opportunities for small and medium-sized enterprises and startups. The joint plans also include devising ways to revitalize their respective economies.
Governor Murphy is currently in Seoul for an event designed to attract investment to New Jersey. This visit marks the first by a New Jersey governor to South Korea. Murphy, who was instrumental in passing legislation requiring the teaching of Asian American history in New Jersey schools, is visiting a state that has significant ties to his own. New Jersey is home to the third-largest Korean population in the United States and hosts the U.S. headquarters for major Korean corporations such as Samsung Electronics Co. and LG Electronics Inc. Additionally, New Jersey was the first U.S. state to designate both Korean Hanbok Day and Kimchi Day.