Gyeongsan, North Gyeongsang Province and University of Utah sign MOU to help local firms enter US market

Gyeongsan, North Gyeongsang Province and the University of Utah have agreed to build a cooperative framework to help local companies enter the US market and pursue global growth.

The three parties signed a memorandum of understanding Tuesday at Gyeongsan City Hall, along with the University of Utah Asia Campus, to support local firms' overseas expansion and global development.

Gyeongsan Mayor Jo Hyeon-il, North Gyeongsang Province Deputy Governor for Economic Affairs Yang Geum-hee and University of Utah Asia Campus President Gregory Hill attended the signing ceremony.

Under the agreement, the parties will cooperate on identifying promising local companies, facilitating partnerships with US firms and institutions, sharing policy and industry information, exchanging corporate personnel, developing joint projects, and supporting industry-academia collaboration and technology commercialization.

Gyeongsan has been expanding into future industries such as robotics and AI, building on the manufacturing expertise it has accumulated through its automotive parts sector.

The University of Utah, based in the US state of Utah, pursues research, technology commercialization and corporate partnerships. Its Asia Campus in Songdo, Incheon, serves as a liaison between the main campus and domestic institutions and companies.

North Gyeongsang Province and the University of Utah had earlier agreed in Utah on Sept. 21 to cooperate on supporting local companies' global expansion and innovation-driven growth.

"We will actively leverage the University of Utah's research capabilities and local networks to help local companies' outstanding technologies and products gain competitiveness in overseas markets," Deputy Governor Yang said. "I hope the cooperation that begins in Gyeongsan will serve as a catalyst for expanding North Gyeongsang businesses into global markets."

Mayor Jo said the city would work with North Gyeongsang Province and the University of Utah to connect local companies venturing into robotics and AI, as well as automotive parts, with the US market. "I hope this agreement will serve as a starting point for opening new sales channels and growth opportunities for local businesses," he added.