Trade Mission Brings Korean Businesses to Maryland

A delegation of Maryland officials, including First Lady Yumi Hogan, have wooed two more Korean-headquartered businesses — Fasoo.com, Inc. and Green Cross Cell — to locate offices in Maryland.

In regards to Fasoo.com, Inc. The Herald Mail reports:

While headquartered in Seoul, its North American arm was based in Sunnyvale, Calif., from 2012 until 2014, when the company moved to East Brunswick, N.J. The company moved to Bethesda, Md., in late September, bringing seven employees.

“The quality of the Maryland workforce is why we’re moving from New Jersey. The high concentration of skilled and experienced information-security professionals in the corridor between Washington, D.C., and Fort Meade is one of the biggest factors in the decision to shift our North American operations,” Cho Kyu-gon, Fasoo’s founder, chairman and chief executive officer, said in a news release.

In regards to Green Cross Cell, which specializes in cancer immunotherapy, the article clarifies that the company has signed a memorandum of understanding with the Department of Commerce. If established in Maryland the operation would be its first subsidiary outside of Asia.

The article also notes that separate county delegations are travelling to South Korea to attract even more businesses. A trade mission led by Prince George’s County Executive Director Rushern Baker has resulted in a “Friendship Agreement with the Korean city of Cheonan. The county is the only one in Maryland to have a countywide free trade zone which provides reduced import tariffs for foreign companies operating within the county. And in October, Montgomery County Executive Ike Leggett is scheduled to lead a mission to South Korea.

Read the full article in The Herald Mail  to learn more.