On April 27th, KOTRA held a ceremony to open the Austin Semiconductor GP Center in Texas. The event was attended by important figures, such as South Korea's Consul General Chung Young-ho, Texas Governor Greg Abbott, Williamson County Mayor William Gravell, Taylor Mayor Brandt Rydell, and Taylor City Economic Development Corporation. The center aims to provide support for small and medium-sized businesses (SMBs) in the semiconductor sector to help them enter the US market.
The US government's manufacturing promotion policy has led to the rapid reorganization of new supply chains in high-tech industries, including semiconductors. With the announcement of significant policies such as the CHIPS Act and the Inflation Reduction Act, domestic companies are expected to become more active in the US market. In particular, Austin, Texas, where several semiconductor companies, including Samsung Electronics, are expanding their investments and local factories, has become a hub for the semiconductor industry.
However, SMBs in the semiconductor sector face various challenges that prevent them from entering the global market alone, including licensing and regulation, environmental regulations, and personnel and labor issues. The Austin Semiconductor GP Center aims to provide customized local entry programs for each tenant company, such as shared office occupancy cost support, professional consulting for local settlement, and marketing support for global buyers.
In addition, KOTRA has signed agreements with the Texas State Government and Williamson County to strengthen mutual economic cooperation. This move will simplify procedures and unify inquiries for domestic companies looking to enter local investments, establishing an efficient support system.
According to Yu Jeong Yeol, president of KOTRA, the recent announcement of the US Semiconductor Support Act has increased demand for domestic semiconductor SMBs to enter North America. However, entering the US market alone has not been easy for these companies. Therefore, KOTRA aims to support SMBs in the semiconductor sector systematically and provide them with a smooth entry into the US market.
In a strategy meeting held in Dallas on the 26th, KOTRA discussed measures to expand exports to the North American market and establish support measures for SMBs. The measures discussed included supporting North American electric vehicle supply chains, identifying opportunities in the US semiconductor market and ways to enter it, and boosting exports of consumer goods.
