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Business development mission to South Korea and Taiwan targets trade, investment

MONTGOMERY, Alabama — A team from the Alabama Department of Commerce led a business development mission to South Korea and Taiwan that sought to strengthen the state’s commercial ties with the Asian economic powerhouses.

The Commerce team was headed by Secretary Greg Canfield and included Hollie Pegg, assistant director of business development for the department, and Hilda Lockhart, director of the International Trade Division. They departed April 5 and began their return April 11.

Leaders and economic development officials from communities across Alabama joined the team in Seoul, South Korea, for an “Invest in Alabama” presentation at the U.S. Embassy. The community officials also had private meetings with Korean companies as part of the business development mission.

South Korea is a key trading partner for Alabama, with two-way trade in 2013 measured at $2.5 billion. Alabama also has been a magnet for investment by South Korean companies such as HS Automotive, Taesung and others that have recently announced projects in the state.

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