Lt. Gov. Primavera Leads Investment Mission to South Korea and Taiwan

DENVER - To enhance global economic ties, showcase Colorado's strengths and boost the state's thriving economy, Lt. Governor Primavera led a delegation on behalf of Governor Polis to the Republic of Korea (South Korea) and Taiwan. Officials within the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT), the Colorado Department of Agriculture, and a Colorado delegation of economic development professionals and industry leaders from across the state explored opportunities for collaboration in high tech industries including Aerospace, quantum, agriculture and semiconductors and reinforced the state's $1 billion annual trade relationships with South Korea and Taiwan.

"South Korea and Taiwan are strong Colorado partners that support our agriculture sector and share our commitment to developing the technologies of tomorrow, including quantum, semiconductors, and space. Growing our relationships represents an opportunity to boost investment into our state and create good-paying jobs for Coloradans, and I am thrilled to help build new partnerships in South Korea and Taiwan," said Lt. Governor Dianne Primavera.

The mission included a full agenda of meetings, networking events, and site visits focused on agriculture, battery manufacturing, quantum technologies, semiconductors, and space technology, the latter drawing on the Lt. Governor's leadership in aerospace as the co-chair of the Colorado Space Coalition.

"South Korea and Taiwan are global leaders in semiconductor manufacturing, and South Korea is a leader in the production of lithium-ion batteries essential for electric vehicles and renewable energy storage. They also have growing interests and investment in space and quantum technologies-all sectors where Colorado excels and is well positioned to support growth. We are thrilled to introduce economic development and business leaders from across the state to these important markets," said OEDIT's Executive Director, Eve Lieberman.

The delegation focused on understanding the economies of South Korea and Taiwan and showcasing Colorado's strengths in areas that position the state as a prime destination for investment and collaboration:

• In addition to major fabrication facilities, Colorado businesses support the entire semiconductor value chain from chip design and materials to fabrication and packaging. New state programs are supporting the industry's growth while helping Colorado semiconductor companies secure federal funding for expansion.
• Colorado leads the U.S. in aerospace employment per capita and has experienced 30% growth in aerospace jobs over the past five years. Colorado's aerospace and defense industries are projected to contribute over $30 billion to the economy this fiscal year.
• Colorado's designation as a federal tech hub focused on the development of quantum technologies unlocked $127 million in state and federal funding, and supported the groundbreaking of the new Quantum Tech Park in Arvada.
• Agriculture is among Colorado's leading economies and is the 2nd largest exporter in the state; South Korea and Taiwan are top destinations for Colorado's agricultural exports and great markets to expand business and research opportunities.

"Colorado has excellent partners in South Korea and Taiwan," said Colorado Commissioner of Agriculture Kate Greenberg. "This trade mission highlighted the strength of our relationships, our mutual commitment to tackling climate change and advancing research, and the great potential to grow our mutual business opportunities. Agricultural products are Colorado's largest export, and our delegation of Colorado agriculture leaders shared our commitment to expanding market access for Colorado agriculture and investing in key international partnerships."

The delegation engaged with the Industrial Technology Research Institute (ITRI), Taiwan Space Agency (TASA), the Taiwan Electrical & Electronic Manufacturers' Association (TEEMA), the American Institute in Taiwan, and the Taiwan Tech Arena. They also visited GSSG Solar, a Colorado company with a regional office in Taipei.

In South Korea, the delegation held meetings with the Korean Institute of Standards & Technology Information (KISTI), the Korean Quantum Industry Association, the Korean Battery Industry Association, and several Korean aerospace companies seeking to expand to the United States. They also co-hosted a reception to celebrate Colorado and South Korea's relationship with the U.S. Embassy in Seoul, and visited the headquarters of CS Wind, a wind turbine manufacturer with a growing presence in Pueblo.

The Lt. Governor, who is Chair of the Colorado Commission of Indian Affairs, also visited the National Museum of Korea, which recently provided a $900,000 grant to the Denver Art Museum. The Denver Art Museum's Indigenous Art of North America also recently displayed in South Korea as a traveling exhibit. The Lt Governor also met with Ministry of Foreign Affairs Second Vice Minister Kang Insun and formally presented letters on behalf of Governor Polis and state leaders formally requesting the establishment of a Consulate General of the Republic of Korea in the city of Aurora.

Colorado delegates included representatives from Agile Space Industries (Durango), Caribou Thunder (Colorado Springs), City of Aurora, City of Fort Collins, Colorado Beef Council, Colorado Wheat, Denver Economic Development & Opportunity, Denver Metro Chamber of Commerce, Longmont Economic Development Partnership, Mesa Quantum Systems (Boulder), Denver Metro Economic Development Corporation, Rocky Mountain Farmers Union, Stored Energy Systems (Longmont), True Anomaly (Centennial), and Upstate Colorado Economic Development.

About OEDIT's Global Business Development Division

Global Business Development (GBD) is a division of the Colorado Office of Economic Development and International Trade. GBD supports Colorado businesses and communities by using a data-driven approach to recruit, support, and retain businesses that contribute to a robust and diversified economy. We align our portfolio of programs, services, and incentives with industries that benefit Colorado companies and elevate the state's national and international competitiveness. GBD also hosts foreign delegations and participates in trade and investment missions around the world to strengthen global awareness of Colorado. With a highly educated and motivated workforce, a thriving innovation economy, and nation-leading entrepreneurial spirit, Colorado is a top market for business development.

About Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado's economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire-and make it accessible to everyone. Learn more about OEDIT.

About the Colorado Department of Agriculture

The Colorado Department of Agriculture exists to support the state's agriculture industry and serve the people of Colorado through regulation, advocacy, and education. Our mission is to strengthen and advance Colorado agriculture, promote a safe and high-quality food supply, protect consumers, and foster responsible stewardship of the environment and natural resources. Learn more at ag.colorado.gov.

###

Public link

Please use the above public link if you want to share this noodl on another website.