by Marlon Meyer
Northwest Asia Weekly
From left: Gabriel Esparza, Michael Fong, Sam Cho, Isabelle De Wulf and Josh Davis. (Source: Port of Seattle)
Walking around the room, speaking to reporters in Korean and English, Port of Seattle Commissioner Sam Cho personally welcomed each one. Still bilingual, he then launched a program to help local businesses increase exports to South Korea. Finally, he quipped: “I realized my job as port commissioner was to create jobs, not take them away.” He then introduced an interpreter.
This spontaneity seems to be the hallmark of the innovative program he introduced.
Cho was the first port commissioner of color, with experience as an exporter and federal bureaucracy.
He reached out to Wilcox Farms in Washington while bird flu ravaged Asia and used his connections to speed up shipping, which has since shipped 2.5 million pounds of vacuum-packed eggs in refrigerated containers to South Korea.
Referring to the current move, he said, “Such a procedure would be helpful when I was exporting.”
The program, supported by federal and state governments and private industry, will provide funding and opportunities for Black, Indigenous and People of Color (BIPOC) small and medium-sized businesses and “create community,” Joe said.
It primarily targets Korean-American businesses. Some have already been exported to South Korea, while others may be interested in the opportunity to do so.
“This program is aimed at small business owners or entrepreneurs, primarily from the Korean-American community, who have already exported to South Korea or are interested in selling to the Korean market,” said a press release from the U.S. Small Business Administration (SBA) last week. .
“They understand the language, they understand the culture, and they understand how to do business in their country of origin,” said Gabriel Esparza, deputy director of the SBA Office of International Trade, which supports the program.
In addition, the number of people with ties to South Korea indicates the maturity of the region’s participation in such programs.
The Greater Seattle area has more than 40,000 Korean-born residents and more than 79,000 Koreans, according to Greater Seattle Partners, one of the groups supporting the enterprise.
Existing trade is another sign that there is room for growth.
More than 30 Korean companies already employ more than 450 people in the greater Seattle area. Companies such as Amazon, Costco, Microsoft and Starbucks have invested more than $1 billion in South Korea and created more than 1,600 jobs.
Nor is this a recent development.
Port of Seattle Commissioner Sam Cho speaks to reporters before the meeting. (Photo by Marlon Meyer)
For the past 10 years, South Korea has been one of the top three trading partners in the region.
Trade continues to grow.
In 2021 alone, South Korea will export more than $4.5 billion to the greater Seattle area, mostly automotive and industrial products. For its part, the region exported over $2 billion to South Korea in 2021, mainly agricultural, aerospace and industrial machinery products.
Between 2011 and 2022, trade totaled nearly $80 billion.
“This is a solid foundation for SMEs to export to Korea,” said Josh Davis, vice president of global trade and investment at Greater Seattle Partners.
Building on this trend, the federal government, through the SBA, has pledged technical assistance, funding, and other support to assist the program.
Another reason the program targets small and medium businesses: 97 percent of U.S. exporters are small businesses.
The Washington State Department of Commerce, the Port of Seattle and South Korea’s leading e-commerce company Coupang are also contributing resources. This includes assisting with exports involving e-commerce.
The September 8-9 conference will provide information on market opportunities in Korea and resources available to pursue international sales. Successful small businesses will share their export experience. The conference will also provide opportunities for exporters or those interested in exporting to interact with government and industry representatives, as well as network with other participants.
Like a giant ship at dock, soaked in salty air from the Puget Sound, the Port of Seattle will open its doors to a multitude of exporters and potential exporters in the region, many of whom are already using its facilities. .
Washington state is home to more than 120,000 small businesses owned by people of color, said Michael Fang, a former senior vice mayor of Seattle and current SBA regional administrator for the Pacific Northwest. Of these, half are owned by Asian Pacific Islanders (AAPI).
Infrastructure in the region also supports expanded growth.
The three deep-water ports are important allies for exporters. About 80% of all exports from the region to South Korea are by sea.
For those who need to fly, Seattle-Tacoma International Airport is the closest West Coast gateway to Asia.
As a sign, exports from the region were up more than 22 percent from a year earlier.
Isabelle DeWulf, managing director of the Small Business Export Assistance Division of the Washington State Department of Commerce’s Office of Economic Development and Competitiveness, pledged to provide funding “to help small businesses start e-commerce.”
The event, titled “Small Business Growth and Resilience through Export Opportunities in U.S.-Korea Trade,” will host a reception on September 7 from 5:30-8:00 p.m., sponsored by Coupang.
“For entrepreneurs and small business owners interested in the Korean market, this is an excellent opportunity to meet face-to-face,” the joint press release said.
The reception will also host a “mid-autumn-themed light dinner”. Chuseok is the Mid-Autumn Festival in Korea.
The reception will be held at Pier 69 at 2711 Alaska Avenue.
Mahlon can reach info@nwasianweekly.com.
