Seoul Mayor Oh Se-hoon and Maryland Governor Martin O’Malley agreed Thursday to increase investment and trade opportunities between Seoul and Maryland, city officials said Friday.
The two leaders signed a memorandum of understanding Thursday when Oh visited Maryland. The state is well known for its bio cluster of about 500 institutions, the largest of its kind in the U.S.
Oh has emphasized the bio industry as a new future growth engine.
He said the new partnership has laid the groundwork for exchange and cooperation between the two places.
The Seoul mayor is on an eight-day trip to the U.S. in a bid to attract foreign investment from the state’s businessmen.
“Following the agreements with Massachusetts and Maryland, Seoul City plans to work together with other advanced bio cities such as Beijing, Shanghai and Munich,” Oh said.
“By utilizing the knowhow of each city, we will make Seoul an Asian hub for the bio industry,” he said.
By Lee Ji-yoon (firstname.lastname@example.org