The Port of Oakland, together with FedEx and the U.S. Department of Commerce, recently hosted “Road to South Korea: Exploring Trade Opportunities” at the Waterfront Hotel in Oakland’s Jack London Square. The event brought together local business and U.S. and South Korean trade organizations to address the benefits and challenges of doing business in South Korea.
“South Korea ranks fourth in terms of the Port of Oakland’s top export destinations,” says James Kwon, Port of Oakland maritime director.” Expanding trade opportunities with South Korea will help fulfill the port’s primary goal of growing its maritime business, which will help create jobs throughout the Northern California MegaRegion.”
The pending ratification of the U.S.-South Korea Free Trade Agreement will mean more goods from Korea and will result in more cost-effective importing and exporting for both countries. The United States is a major supplier to Korea for many agricultural products including almonds, cherries, beef and poultry. All of these are major exports through the Port of Oakland.
The event focused on helping U.S. companies of all sizes understand the opportunities to increase their sales, protect their business interests and take advantage of U.S. government resources when doing business in South Korea. Participants had the opportunity to discuss issues pertinent to their business interests. The seminar detailed South Korea’s demographics, South Korea-U.S. Trade policy overview, current export licensing requirements, government export finance programs, international shipping and logistics and airfreight logistics.