SEOUL, SOUTH KOREA — On Wednesday, Governor Ron DeSantis met with Prime Minister Han Duck-Soo of South Korea to strengthen the growing business relationship between Florida and South Korea. The strategic partnership between Florida and South Korea was founded on shared values of democracy, human rights and a belief in the free market economy.
“Florida is excited to be strengthening business ties with South Korea and we look forward to continuing to build on our partnership,” said Governor DeSantis. “I was happy to meet with the prime minister and showcase the economic opportunities available by working with Florida.”
The governor and First Lady Casey DeSantis were joined by Secretary of Commerce Laura DiBella and Florida Secretary of State Cord Byrd, who assured the country that Florida would continue to streamline processes to make it easy for vital partners to conduct international trade and business in the state.
LAUNCH CAPITAL OF THE WORLD
During his visit, DeSantis signed a Memorandum of Understanding (MOU) with South Korea-based LowCarbon Hydrogen Corporation to create a technology research hub in Florida. The company plans to break ground on a clean hydrogen facility in Polk County, Florida this summer.
“Our state is taking a bold step towards promoting long-term development in the aerospace and space industry across the entire supply chain,” said DeSantis. “From manufacturing and launching to fuel production, Florida is the global leader in the new space economy.”
LowCarbon Hydrogen Corporation is collaborating with Space Florida and Ocean Green Hydrogen to support the development and deployment of clean hydrogen and related technologies for aerospace and space industry launches. The governor’s office said this is a significant step towards promoting Florida as not only the launch capital of the world but also a hub for the growth of a new aerospace supply chain.
ECONOMIC RELATIONSHIP
Merchandise trade between Florida and South Korea exceeds $1.3 billion annually, making it Florida’s 7th largest bilateral trade partner in Asia and the Middle East region. South Korea imported more than $341.6 million worth of goods from Florida in 2022, while Florida imported more than $951 million in goods from South Korea in 2022.
South Korean companies like Hyundai and Korean Airlines have estimated total holdings of more than $107 million in Florida.
