North Dakota and South Korea: Expanding Collaboration, Investment and Innovation
In October 2024, Commerce Commissioner Josh Teigen and COO/Deputy Commissioner Shawn Kessel joined Governor Burgum and representatives from North Dakota Trade Office, Energy & Environmental Research Center, and North Dakota industry in the Republic of Korea, commonly referred to as South Korea. The delegation met with leaders of South Korean business and government, including President Yoon Suk Yeol, during a busy itinerary of meetings and presentations, connecting with dozens of industry leaders with a combined market cap exceeding $300 billion.
South Korea is one of the most technologically advanced economies in the world, yet highly dependent on imports for food, energy, and other resources. North Dakota offers a wealth of resources, leading the nation in many areas of agricultural production, Uncrewed Aircraft Systems (UAS) innovation, and abundant energy generation. North Dakota also holds the potential for expansive clean energy development with its unique geology ideal for carbon capture.
Teigen gave a keynote address on North Dakota’s UAS strength and innovation to the Korea Research Association for Unmanned Vehicle (KRAUV), resulting in a memo of understanding (MOU) between KRAUV and the state of North Dakota to expand UAS research and development opportunities between the two entities. Gov. Burgum also signed a MOU with the Korea Institute of Energy Research (KIER), launching a partnership in energy innovation focused on hydrogen, carbon capture, and clean energy. The trip concluded with a visit with Doosan Bobcat CEO and Vice Chairman Scott Park – Doosan Bobcat employs 3,400 North Dakotans at its four locations in Gwinner, Bismarck, Wahpeton, and its headquarters in West Fargo – and a reception with many respected Korean business leaders.
“We are proud of the success of this mission, which has laid the groundwork for transformative partnerships across multiple sectors,” said Kessel. Conversations are already happening between the state’s economic development team and South Korean business leaders for North Dakota site visits and further dialogue. “Our discussions with Korean business leaders, government officials, and research organizations reflect the strength of the U.S.-South Korea alliance. We look forward to building on these relationships to drive innovation, create jobs, and expand economic opportunities for both nations.”
North Dakota Takes Center Stage in Japan: Building Bridges for Economic Growth
In October 2022, Commerce's COO Shawn Kessel, alongside Governor Doug Burgum and other state leaders, embarked on a pivotal trade and investment mission to Japan. This week-long journey aimed to forge new partnerships and unlock exciting investment opportunities, promising a brighter future for North Dakota's economic landscape.
The mission held immense significance. While Japan shares a similar landmass to North Dakota and South Dakota combined, its population dwarfs the two states by a staggering 75 times, presenting a vast market ripe for exploration. North Dakota's exports to Japan already reached $40.1 million in 2021, solidifying its position as a top export destination. Additionally, Japan's status as the fourth-largest U.S. export market and the top source of foreign direct investment in 2020 (investing $679 billion and supporting over 973,800 jobs) underscored the immense potential for collaboration.
The journey kicked off with a compelling presentation to the Japan External Trade Organization (JETRO), showcasing the abundance North Dakota offers in agriculture, energy, and technology. This was followed by a reception hosted by the U.S. Ambassador to Japan, creating a dynamic space for North Dakota's leadership to connect with key Japanese business representatives. Through these interactions, the seeds of collaboration were sown, paving the way for future partnerships that can propel North Dakota's economic growth.
Paris Airshow Story 2023
North Dakota's presence at the 2023 Paris Airshow proved to be a resounding success. The week kicked off with a high-profile "Doing Business in the US" event at the US Ambassador's residence, putting North Dakota in front of key decision-makers. This was followed by participation in the Viva Technology show, a platform for showcasing cutting-edge innovation. Here, North Dakota's Department of Trade (NDTO) and Commerce had the opportunity to highlight the state's thriving core industries and its dynamic community of innovators. This multi-faceted approach at the Paris Airshow not only strengthened North Dakota's position within the global aerospace industry but also generated valuable connections that could lead to future partnerships and economic growth.
North Dakota's Productive Investment Mission to Brazil
In February 2024, Commerce Commissioner Teigen, along with Deputy Commissioner Kessel and a team of industry specialists from the EERC, UND, and NDSU, set their sights on Brazil. Their goal: to ignite interest in North Dakota's strengths in energy, agriculture, and the cutting-edge field of Uncrewed Aerial Systems (UAS).
The delegation's journey began in Rio de Janeiro, where they wasted no time. Meetings with key players in their target sectors were followed by Commissioner Teigen's captivating presentations. Venues like the Cubo innovation hub became platforms for sparking discussions and fostering a spirit of collaboration. Carrying this momentum, they then headed to São Paulo, Brazil's bustling business center. Here, they continued their outreach by engaging with industry leaders and potential investors. The overwhelmingly positive reception solidified their optimism for future partnerships. As this productive mission ends, North Dakota anticipates reaping significant rewards in the form of investment and collaboration in the months to come. The seeds of economic growth have been sown, and North Dakota's proactive approach to forging international connections promises a brighter future.