Announcing Bills to Create Virginia-Korea Advisory Board to Bring Jobs and Develop Economic Partnership
FOR IMMEDIATE RELEASE: Tuesday, January 14, 2014
RICHMOND, VA – Senator Chap Petersen (D-Fairfax) and Delegate Mark Keam (D-Vienna) are pleased to announce legislation to create the "Virginia–Korea Advisory Board," a development board of citizen members and elected officials dedicated to further improving and cultivating the economic relationship between the Commonwealth of Virginia and the Republic of Korea (South Korea).
Delegate Keam and Senator Petersen are carrying companion legislation (HB1130 and SB 227) as well as budget amendments to fully fund the board. The Virginia–Korea Advisory Board is modeled after the Virginia–Israel Advisory Board.
The Virginia–Israel Advisory Board has successfully facilitated economic partnerships between the Commonwealth and the nation of Israel since 1996. Petersen and Keam anticipate that the Virginia–Korea Advisory Board would be able to assist the business community in a similar way.
"Korea is a friend of Virginia– we have one of the largest communities of Korean Americans in the United States, many of whom are doing business in both countries. The Virginia–Korea Advisory board will bring cooperation and commerce– and most importantly, make Virginia the best place in the nation for Korean companies to invest. I hope the members of the General Assembly will agree that we need this board," said Petersen.
“The strong economic and social relationships between Virginia and Korea cannot be denied. There are nearly 100,000 Korean Americans living in Virginia who contribute to Virginia’s strong economy, including operating thousands of small businesses that create jobs and generate tax revenues for the Commonwealth. More importantly, many of these Korean American residents maintain personal and professional ties with their homeland and travel frequently between the two countries for business reasons. We should take advantage of this growing community’s contacts with the Republic of Korea for the economic benefit of Virginia. The Advisory Board that Chap and I hope to create will serve as an official liaison to coordinate the vibrant economic synergies between these two lands into good jobs for Virginians,” said Keam.