General Business
By Wesley Mathews, President and CEO of Choose New Jersey On Aug 4, 2025
Despite the news of tariffs, trade wars, and rising protectionism, global economies remain deeply interconnected and interdependent. The most successful relationships will be those grounded in mutual benefit and trust. The economic relationship between South Korea and New Jersey is a prime example. At Choose New Jersey, a nonprofit organization whose mission is to inspire businesses, entrepreneurs, and innovators to make New Jersey their home, I’ve had the privilege of witnessing firsthand how this partnership has grown — not just in boardrooms and balance sheets, but in communities and careers across New Jersey.
The numbers tell a compelling story. Since 2003, Korean companies have invested more than $687 million in New Jersey, creating more than 2,600 jobs. Today, 56 Korean companies operate in New Jersey, spanning sectors from advanced manufacturing and logistics to life sciences and clean energy. This makes New Jersey the second-largest recipient of Korean foreign direct investment in the Northeast, a testament to our state’s value proposition.
This relationship is rooted in a deep cultural connection. New Jersey is home to the third-largest Korean population in the United States; a standout example is Palisades Park, which boasts the highest density of Korean-Americans of any municipality in the country. These communities have not only enriched our cultural fabric but have also made New Jersey a welcoming and familiar environment for Korean businesses looking to expand in North America.
One of the most exciting recent developments is CJ Group’s plan to build a major logistics center in Secaucus, in partnership with Korea Ocean Business Corporation. This facility will serve as a critical hub for CJ Logistics’ North American operations, leveraging New Jersey’s strategic location, world-class infrastructure, and access to one of the largest consumer markets in the world.
CJ has already established a strong presence in the state through its food manufacturing facility in Robbinsville, joining a growing roster of Korean firms that see New Jersey as a gateway to global growth. These include household names like Samsung, which has called Ridgefield Park home since 1991 and employs more than 1,000 people in its 235,000-square-foot U.S. headquarters. POSCO International, Hanwha, LG and Hyundai Engineering & Construction are also part of this ecosystem.
In fact, Hyundai Engineering & Construction’s decision to establish its U.S. base in Englewood Cliffs in 2022 was directly supported by Choose New Jersey. We provided the company with site research, market surveys, risk analyses and introductions to key state agencies and private partners — services we offer to all international companies considering New Jersey.
Since our inception in 2010, Choose New Jersey has worked to make the state the most attractive destination for global business. We work hand-in-hand with companies to ensure a smooth and successful transition into the U.S. market. Whether it’s navigating regulatory requirements, identifying talent pipelines, or accessing the state’s robust suite of economic development tools — including jobs-based tax credits, technical assistance, and low-interest business financing — we are here to help.
Gov. Phil Murphy touted our state’s advantages during an economic mission to Seoul in 2023. A year later, we opened the New Jersey Asia Pacific Center in Taipei to better reach East Asian investors.
The relationship between New Jersey and South Korea is not a one-way street. Just as Korean companies are investing in New Jersey, New Jersey-based firms are finding opportunities in Korea. A prime example is Panepinto Properties, a Jersey City-based real estate developer that is leading a major mixed-use project in Incheon, South Korea.
Trade between New Jersey and Korea reached $4.4 billion in 2023, making South Korea our 12th-largest trading partner. South Korea is the 9th-largest market for goods exported by New Jersey companies, and South Korea is New Jersey’s 15th-largest supplier of imports. These rankings reflect not only the volume of commerce but also the strategic alignment between our economies.
Looking ahead, the future of the New Jersey–South Korea relationship is bright. With daily nonstop flights from Newark and JFK to Seoul, a shared commitment to innovation and a foundation of cultural affinity, we are poised to deepen our collaboration in emerging sectors like clean energy, biotechnology and digital technology.
At a time when global supply chains are being reimagined and economic alliances are shifting, New Jersey offers South Korean companies a stable, strategic, and supportive environment for growth. In return, South Korean companies are helping to power New Jersey’s economy, create well-paying jobs, and strengthen New Jersey’s position as a global business hub.
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