Texas is stepping up efforts to attract new investment from Asia as South Korea moves forward with a US$350 billion investment framework supporting strategic industries across the United States. The initiative will be managed by the Korea-U.S. Strategic Investment Corporation (KUIC), established by South Korea's National Assembly to oversee US$150 billion in shipbuilding cooperation and an additional US$200 billion in investments targeting sectors critical to economic growth and national security. Under a memorandum of understanding, future projects are expected to focus on industries including shipbuilding, energy, semiconductors, pharmaceuticals, critical minerals, artificial intelligence and quantum computing—all sectors where Texas has established competitive advantages. South Korea is already one of Texas' largest foreign investors. According to the Texas Economic Development Corporation, Korean companies have invested in 72 projects across the state over the past decade, creating more than 15,000 jobs. Major investors include Samsung, Hyundai, SK Hynix and DongAh USA, reflecting the state's growing role in advanced manufacturing, semiconductors, automotive supply chains and energy. "The Republic of Korea and Texas share industry strengths like electronics and semiconductors, automotive and EV supply chains, advanced manufacturing, energy, financial services and telecommunications," the Texas Economic Development Corporation noted. State leaders have also increased engagement across Asia to strengthen trade and investment partnerships. In recent years, Governor Greg Abbott has led economic missions to South Korea, Japan and Taiwan, promoting Texas as a destination for international companies seeking access to the North American market. "We are both economic powerhouses set to dominate the technologically advanced future," …
Texas is stepping up efforts to attract new investment from Asia as South Korea moves forward with a US$350 billion investment framework supporting strategic industries across the United States.
The initiative will be managed by the Korea-U.S. Strategic Investment Corporation (KUIC), established by South Korea’s National Assembly to oversee US$150 billion in shipbuilding cooperation and an additional US$200 billion in investments targeting sectors critical to economic growth and national security.
Under a memorandum of understanding, future projects are expected to focus on industries including shipbuilding, energy, semiconductors, pharmaceuticals, critical minerals, artificial intelligence and quantum computing—all sectors where Texas has established competitive advantages.
South Korea is already one of Texas’ largest foreign investors. According to the Texas Economic Development Corporation, Korean companies have invested in 72 projects across the state over the past decade, creating more than 15,000 jobs. Major investors include Samsung, Hyundai, SK Hynix and DongAh USA, reflecting the state’s growing role in advanced manufacturing, semiconductors, automotive supply chains and energy.
“The Republic of Korea and Texas share industry strengths like electronics and semiconductors, automotive and EV supply chains, advanced manufacturing, energy, financial services and telecommunications,” the Texas Economic Development Corporation noted.
State leaders have also increased engagement across Asia to strengthen trade and investment partnerships. In recent years, Governor Greg Abbott has led economic missions to South Korea, Japan and Taiwan, promoting Texas as a destination for international companies seeking access to the North American market.
“We are both economic powerhouses set to dominate the technologically advanced future,” Abbott said during a trade mission to Seoul. “With our strong trade and exports, Texas and South Korea are critical economic partners in the growing economies of the 21st century.”
The push is extending beyond the state level, with regional economic development organizations actively pursuing foreign direct investment.
Earlier this year, Jacksonville Economic Development Corporation (JEDCO) President Shane Pace traveled to Taiwan and Japan, meeting with more than 30 manufacturers to promote East Texas as a location for new investment.
“It’s important to them to be able to serve their customers and prevent supply chain delays or avoid tariffs,” Pace said. “Onshoring to the U.S. is extremely important to them right now.”
Jacksonville is already home to several international manufacturers, including Canada-based Cancoil, which is developing a US$28 million refrigeration coil manufacturing facility expected to create 120 jobs, and Italy’s LU-VE Group, which manufactures heat exchangers for HVAC, refrigeration and data center cooling applications.
Building on its outreach efforts, Jacksonville is preparing to host a delegation of 17 prospective investors from Asia, giving manufacturers the opportunity to explore the region’s workforce, industrial sites and infrastructure firsthand.
“We have adequate resources. We have a ton of water. We have land. We have everything that they need, but we just haven’t been on their radar,” Pace said.
As global companies continue diversifying supply chains and expanding U.S. manufacturing, Texas is positioning itself as a leading destination for foreign direct investment in advanced manufacturing, energy, semiconductors and other strategic industries.
