Gov. Nathan Deal: Signs Resolution Urging Congress to Increase Korean Investment in Georgia

24
Apr

Gov. Nathan Deal: Signs Resolution Urging Congress to Increase Korean Investment in Georgia

Your Georgia Desk:

Sfafer Korea

 

Pictured from left to right: He Beom Kim, Consulate General of the Republic of Korea, Governor Nathan Deal, and Sen. David Shafer (R –Duluth)

From the Georgia State Senate:

Senate Resolution 941 was signed by Governor Nathan Deal today at the Georgia State Capitol. Sponsored by Senator David Shafer (R- Duluth), this resolution urges Congress to increase the number of visas granted to Korean citizens who work in specialized occupations as part of a strategy to promote continued Korean investment in Georgia.

“Korean-owned businesses have invested heavily in Georgia’s communities, operating 51 businesses and facilities statewide including the Kia automobile manufacturing facility in West Point, Georgia, and employing over 50,000 Georgians from all ethnic backgrounds,” said Senator Shafer. “I want to thank Governor Deal and my colleagues for recognizing the importance of our relationship with Korea and the many contributions of Korean Americans.”

SR 941 calls upon the U.S. Congress to expand economic investment opportunities between the U.S. and Korea by increasing the total number of visas offered to Korean citizens with specialized skills and occupations. The resolution also reiterates the importance of the U.S. – Korea Trade Agreement of 2012, which encourages bilateral-trade by creating new opportunities for U.S. exporters to sell goods and services to Korean customers. The trade agreement helps create competitive, high-wage jobs for Georgians statewide.

According to the Office of the United States Trade Representative, the U.S. – Korea Trade Agreement of 2012 represents the United States’ most commercially significant free trade agreement in almost two decades. Latest estimations by the U.S International Trade Commission indicate that reducing taxes on Korean products may add nearly $12 billion to the annual U.S. Gross Domestic Product and approximately $10 billion to annual merchandise exports to Korea.

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