Indiana Secretary of Commerce Brad Chambers will lead an economic development trip to Japan and the Republic of Korea next week, arriving in Tokyo on March 12 and departing Seoul on March 17. In Asia, the Secretary will showcase Indiana’s battery and electric vehicle industries at the InterBattery Conference in Seoul and will target strategic growth in high-tech industries, including semiconductors and life sciences, that are vital to the economy of the future.
“Indiana’s economy is robust and continues to gain momentum as a high-tech, future-focused global leader,” said Sec. Chambers. “Indiana is pursuing strategic growth in critical sectors that will be central to tomorrow’s economy. As one of eight states invited to participate in Korea’s top battery summit, Indiana innovation will be taking center stage, bolstering our growing battery and electric vehicle supply chain for years to come.”
In Japan, Sec. Chambers will meet with government officials, including leadership of the U.S. Embassy in Japan, to discuss the strong and long-lasting ties between Indiana and Japan. The Secretary will also meet with business prospects and leaders of Japanese businesses with Indiana operations in Tokyo and Nagoya to discuss continued collaboration and opportunities to accelerate the future of mobility in Indiana.
On Wednesday, the Secretary will travel to South Korea, leading an Indiana delegation to Seoul to participate in the InterBattery Conference – Korea’s leading battery exhibition showcasing various new products and technologies related to the battery industry. Indiana, which will exhibit at the event for the first time, was one of eight states invited by the U.S. Embassy in Seoul to be part of the conference’s U.S. pavilion.
The state, which will be joined by Dave Roberts, CEO of the Applied Research Institute, and Ben Wrightsman, CEO of the Battery Innovation Center, will showcase Indiana’s leadership in energy storage, electrification, electric vehicles and the industry’s supply chain, targeting new business prospects and investment opportunities. At the conference, Sec. Chambers and the delegation will visit with industry partners, including Samsung SDI, which recently announced a new joint venture with Stellantis to establish a gigafactory in Kokomo; network with South Korea-based and global leaders in batteries and electric vehicles at conference events; and present to industry leaders at a seminar led by the U.S. Embassy in Korea, highlighting the many competitive advantages of doing business in Indiana.
While in Seoul, the Secretary will also work to advance industry partnerships and momentum in future-focused sectors such as semiconductors and life sciences, meeting with businesses interested in investing in the U.S. and hosting a Friends of Indiana reception to celebrate the growing relationship between Indiana and South Korea.
Indiana is home to more than 1,050 foreign-owned business establishments, representing more than 40 countries and territories – including more than 300 from Japan and 12 from South Korea. Among all U.S. states, Indiana has the largest amount of Japanese investment per capita. This trip marks Sec. Chambers’ second trip to Korea and first trip to Japan as Indiana Secretary of Commerce.
In 2022, 32 foreign-owned businesses committed to locating or growing in Indiana. Together, these firms plan to invest $7.25 billion in Indiana, accounting for 33% of total capital investments committed in 2022 and creating more than 6,400 new jobs.
The Indiana Economic Development Corporation (IEDC) is charged with growing the State economy, driving economic development, helping businesses launch, grow and locate in the state. Led by Secretary of Commerce Brad Chambers, @SecChambersIN, and governed by a 15-member board chaired by Governor Eric J. Holcomb, @GovHolcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov.