Korea Federation of Small and Medium Enterprises is joining hands with Garden Grove, California, to support Korean small and medium-sized enterprises entering the U.S. market.
KBIZ said on the 27th (local time) that it signed a memorandum of understanding with the city of Garden Grove at the Garden Grove Police Department to support Korean small and medium-sized enterprises entering the United States by revitalizing the Korean business district.
Garden Grove is a city in Orange County, California, adjacent to major tourist destinations such as Disneyland, drawing a steady influx of visitors. The food, dining, and tourism industries are pillars of the local economy, and an official Korean business district large enough to be called a "Little Seoul" has been established.
Centered on the Korean business district, the K-food industry has also grown, with food manufacturing small and medium-sized enterprises and Korean restaurant franchises expanding there. Industrial facilities that can accommodate food production and light-industry corporations are in place, providing a foundation for Korean corporations to enter and settle locally.
Building on these regional strengths, KBIZ signed its first memorandum of understanding with a U.S. local government, the city of Garden Grove. The two sides agreed to cooperate on ▲ supporting Korean small and medium-sized enterprises entering the U.S. market ▲ promoting Garden Grove's Korean business district in Korea ▲ building a business network between the two institutions.
After the signing ceremony, to express gratitude for Garden Grove's efforts to boost the K-food industry and to signal a commitment to cooperate, they also presented a plaque declaring Garden Grove a "K-Food&K-Goods Friendly City."
KBIZ Chairman Kim Ki-moon proposed, "Let's set up a 'Korea Desk' in Garden Grove to support small and medium-sized enterprises seeking to enter the United States, including California, and work out concrete plans for cooperation." He added, "Let's create a space to permanently exhibit and sell outstanding SME products, and at the end of the year hold a 'Korean Products Fair' where local consumers can experience a wide range of Korean products firsthand."
Garden Grove Mayor Stephanie Klopfenstein said, "It's a great idea that can inject new vitality into the local economy by leveraging the city's strength, the Korean community," and noted the city would cooperate with KBIZ's proposal.