Gov. Cox leads trade mission to South Korea, Japan

Utah Gov. Spencer Cox arrived in East Asia this week to encourage economic ties between the Beehive State and the countries of South Korea and Japan.

Cox is leading a delegation of 47 Utah businesses in a trade mission beginning on Tuesday and extending over 11 days until Oct. 4. Cox’s campaign to strengthen business relationships with South Korea and Japan builds on visits made by his predecessor, former Gov. Gary Herbert, in 2018 and 2019.

“Utah’s position as the best state in the U.S. is bolstered by our ability to reach across the globe and grow our economy through international partnerships,” Cox said in a statement to the Deseret News. “This trade mission will further enhance our state’s economic strength and expand the global reach of Utah-made goods and services.”

What is Cox doing in Asia?

The governor’s visit will feature conversations with key Utah industries, including aerospace, defense and financial services, according to a press release from the Governor’s Office of Economic Opportunity, which organized the trip with World Trade Center Utah.

This week, Cox will be in Seoul, the capital of South Korea. The public schedule for Cox on Thursday includes a ceremonial signing of the countries’ driver’s license reciprocity agreement, a visit to Yonsei University and a meeting with U.S. Ambassador Philip S. Goldberg.

On Friday, Cox is scheduled to lead a “Why Utah” roundtable discussion; to meet with the CEO of Hanwha Aerospace & Systems; to meet with the South Korean minister of trade, industry and energy; and to attend an aerospace dinner. On Saturday, Cox will visit the Korean War Memorial and tour the University of Utah Asia Campus, which is celebrating its 10th anniversary.

The governor’s “Why Utah” pitch highlights unique Utah characteristics that make it strong player on the world stage, according to Ryan Starks, the executive director of the Governor’s Office on Economic Opportunity.

“We speak 130 languages in Utah, have a highly educated workforce, and a business-friendly tax environment,” Starks said in a statement to the Deseret News. “With the 2034 Olympic Games on the horizon, coupled by the emergence of professional sports, Utah is poised for continued global economic success.”

Utah is home to more than 35,000 Korean Americans and 25,000 Japanese Americans, with hundreds of companies already doing business with these two countries, according to a press release from the Governor’s Office of Economic Opportunity and World Trade Center Utah, which jointly organized the trade mission.

“We deeply value the contributions of our Korean American and Japanese American communities, who have played a vital role in sharing Utah’s story in these key markets,” Cox said.

What could Cox’s Asia trip do for Utah?

The Governor’s Office of Economic Opportunity, or GOEO, said the mission represents a smart investment for Utah. Cox made similar trips France, the U.K. and Mexico in 2023 that resulted in nearly $200 million in new trade opportunities, the office reported. Utah has boasted its emerging status as a “ Crossroads of the World ” with events featuring prominent business and political leaders.

It was recently announced that former U.S. Ambassador to Turkey Jeff Flake had been named the new board chairman for World Trade Center Utah. The board includes executives from Zions Bank and Salt Lake Chamber, as well as policymakers like state Sen. President Stuart Adams, R-Layton; Natalie Gochnour, director of the Kem C. Gardner Policy Institute; and Starks, who joined the governor in Asia.

“The trade mission with Utah leaders to South Korea and Japan is essential to build economic partnerships, foster innovation and expand trade markets,” Starks said. “Engaging directly with international leaders and companies brings growth opportunities that benefit Utah businesses and the state’s economy, expanding Utah’s global influence.”