Supporting international expansions for businesses and strengthening economic development ties are both part of a new Memorandum of Understanding, signed by the state of Maryland and the Republic of Korea.
With similar interests in high-tech fields – including aerospace, biohealth, cybersecurity, and renewable energy – the state and South Korea agree to share industry resources and information to benefit both entities. Additionally, both regions will support Korean businesses interested in expanding abroad, by utilizing Maryland as an entryway into the U.S. market. This partnership will provide companies with the possibility of using Maryland’s new Soft Landing Program, which allows businesses to set up temporary office space for up to three months at a reduced rate.
South Korea is Maryland’s 11th largest export market, up from 17th in 2020, with roughly $255 million in goods exported through July of this year.
Maryland’s central East Coast position connects you easily to major U.S. cities and markets—and to the rest of the world. Learn more.