The Korea Federation of SMEs signed an MOU with the city of Garden Grove, California, at the Garden Grove Police Department at 9:30 a.m. Thursday (local time) to support Korean small and medium-sized enterprises entering the US market through the revitalization of the city's Korean business district. Garden Grove Mayor Stephanie Klopfenstein / Korea Federation of SMEs Chairman Kim Ki-moon [Korea Federation of SMEs]
The Korea Federation of SMEs signed an MOU with the city of Garden Grove, California, at the Garden Grove Police Department at 9:30 a.m. Thursday (local time) to support Korean small and medium-sized enterprises entering the US market through the revitalization of the city's Korean business district. Garden Grove Mayor Stephanie Klopfenstein / Korea Federation of SMEs Chairman Kim Ki-moon [Korea Federation of SMEs]

Partnership with Korean business district to serve as springboard for SMEs entering US market

The Korea Federation of SMEs has teamed up with the city of Garden Grove, California, to help domestic small and medium-sized enterprises break into the US market. It marks the first time the federation has signed an MOU with a US local government.

The Korea Federation of SMEs announced Thursday that it signed the agreement with Garden Grove at the Garden Grove Police Department at 9:30 a.m. (local time), pledging mutual cooperation to support Korean SMEs' entry into the US market through the revitalization of the city's Korean business district.

Korea Federation of SMEs Chairman Kim Ki-moon and Garden Grove Mayor Stephanie Klopfenstein attended the signing ceremony. Garden Grove, located in Orange County, California, draws large numbers of tourists thanks to its proximity to Disneyland and other major attractions, with food, dining and tourism forming the backbone of its local economy.

The city is home to an officially designated Koreatown Business District so large it has earned the nickname "Little Seoul." The district stretches roughly 3.5 kilometers along Garden Grove Boulevard from Beach Boulevard to Brookhurst Street, and has become a hub for K-food-related industries, with food manufacturing SMEs and various hansik franchise operators already established there.

Under the MOU, the two sides agreed to cooperate on supporting Korean SMEs' entry into the US market, promoting Garden Grove's Korean business district to domestic audiences in Korea, and building a business network between the two organizations.

Following the signing, the federation presented Garden Grove with a plaque designating it a "K-Food & K-Goods Friendly City," recognizing the city's efforts to develop its K-food industry and expressing commitment to future cooperation.

"Garden Grove has great potential as a base for our SMEs entering the US market, backed by a strong Korean-American community and high interest in Korean products including K-food," federation Chairman Kim said. He proposed that the two sides "establish a Korea Desk in Garden Grove to support SMEs seeking to expand across California and the rest of the United States, and work out concrete plans for cooperation."

Mayor Klopfenstein welcomed the proposal, calling it "a great idea that can inject new vitality into the local economy by leveraging the city's strength — its Korean-American community," the federation said.


hong@heraldcorp.com