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Vol 5 · Issue 8 · August 2016     
Message from the Embassy
Across the United States, Korean-owned companies are investing in new facilities and creating new jobs that are improving the local economy. Korea moved from being the sixth fastest-growing source of foreign direct investment (FDI) in the United States to the fifth fastest-growing source of FDI in 2015. The rise in FDI flows has been accompanied by the Korea-U.S. Free Trade Agreement (KORUS FTA) which lowers trade barriers by eliminating export regulations, and helps increase capital flows and mobility of funds. This month's newsletter focuses on the significant role of foreign direct investment to the U.S. economy.
Korean Investment Grows U.S. Economy

According to new data released by the Bureau of Economic Analysis (BEA), Korean-owned companies invested $40.2 billion which was one of the largest and fastest growing sources of FDI in the United States in 2015. This year Lotte Chemical broke ground on a $3 billion ethane cracking facility and a monoethylene glycol plant in Louisiana, an investment that locates the company closer to the industries that usetheir products. Korean-owned companies like Hankook Tire, Hyundai, Kia, Samsung, and Wells Lighting have also built plants in the United States to supply established industries here and to be closer to their end markets. Samsung, which 
currently employs more than 15,000 people across the country, recently announced an additional $1.2 billion investment allocated for research and development of internet of things technologies in Palo Alto, California. Others, like Quietside, have taken advantage of the benefits of the KORUS FTA and built their businesses in the United States.

Read more about Korean FDI in the United States in the Seoul Source Blog.

Jobs Created by Korean FDI
Recent News
 
The Heritage Foundation, August 22, 2016

The Washington Post, August 16, 2016

The Washington Post, August 12, 2016

Yahoo Tech, August 10, 2016

Upcoming Events
 
World Trade Center Kansas City

Doing Business with the Republic of Korea, featuring Ambassador Ahn Ho-young

1:45-3:00 PM, Tuesday, September 20, 2016
World Trade Center Conference Room at Union Station
30 West Pershing Road
Kansas City, Missouri

Tickets available here.
The U.S.-Korea Free Trade Agreement (KORUS FTA) is an international partnership designed to promote the free flow of products and services between the United States and Korea. This economic relationship spurs business growth, creates jobs, generates new markets for U.S. goods and services, and strengthens an important strategic alliance. 
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