For Immediate Release: August 4, 2004
DBEDT Release News 04-23

Honolulu - A wide range of potential new partnerships with Korean businesses will be available through the public-private sector "Third Korean-Pacific U.S. States Joint Conference" on October 7-8, 2004 in Seoul, Korea. Hawaii participants can meet with potential Korean customers or trade partners in industry sectors customized to the needs and interests of the Hawaii firms.

"This conference will emphasize individual business-to-business meetings and site visits to specific businesses," said DBEDT Director Theodore E. Liu. "Korea is Hawaii's fourth largest export market, and Korean visitors represent a potentially lucrative Asian market."

Liu also noted that South Korea is an important trade and strategic partner for the U.S. and for the Pacific states in particular. In 2003, U.S. exports valued at $8.4 billion dollars passed through the ports of the "Pacific Five" states of Alaska, California, Hawaii, Oregon, and Washington.

In 2002, the Governors of the "Pacific Five" states formally recognized the importance of the relationship with Korea, and made a commitment to strengthen that relationship. The Joint Conference between Korea and the five Pacific U.S. states was created to foster trade, investment and economic cooperation between the two regions.

The Korea-Pacific U.S. States Joint Conference is sponsored by the Korea-U.S. Economic Council (KUSEC) and the Pacific States Trade & Development Council (Pac5), a consortium of the commerce and economic development agencies from the five Pacific U.S. states.

KUSEC is a private, non-profit organization under the auspices of the Korea Investment and Trade Agency (KITA), whose purpose is to promote economic cooperation between Korea and the United States. KUSEC is supported by leading Korean corporations and economic organizations, and exercises significant influence in both private and public sectors.

DBEDT and the Hawaii Korean Chamber of Commerce (HKCC) are organizers for the Hawaii participation at the conference.

Deadline for pre-registration is August 12, 2004. There is a $200 fee per participating individual for the conference.

For further information or to request pre-registration materials for this mission, please call Jamie Lum at 587-2753 or e-mail jlum@dbedt.hawaii.gov.

For more information, contact:
Dave Young
Communications
Phone: (808) 587-1212
Email: dyoung@dbedt.hawaii.gov