TRADE WORKSU.S.-Korea Free Trade Agreement

Business Success Stories

TRADE WORKSU.S.-Korea Free Trade Agreement

Business Success Stories

www.uskoreaconnect.org

Since its March 15, 2012, implementation, we have committed ourselves to the task of ensuring that the U.S.-Korea Free Trade Agreement (KORUS FTA) is the success we said it would be. This book shares a number of success stories of the KORUS FTA and showcases our commitment to maintaining the momentum moving forward. The case studies collected here, which were gathered during the first nine months of the KORUS FTA (between March and November 2012), illustrate many different ways in which American organizations, spanning a wide range of industries from agriculture to pharmaceuticals, have taken advantage of the agreement to grow their businesses and create jobs.

In addition to the new opportunities presented by the KORUS FTA, the World Bank recently ranked Korea eighth in the world in its ease of doing business index and second in ease of enforcing contracts. It is an ideal time for U.S. businesses to take advantage of new market access opportunities in Korea’s dynamic trillion dollar economy. We are pleased to share this first report with you and look forward to updating you with more information as the number of success stories grows. To stay connected, please visit our website at uskoreaconnect.org, where you can find answers to many common questions about the KORUS FTA, learn about state-by-state benefits, gain access to resources, and connect with other participating businesses.

Sincerely,

Y.J. Choi Ambassador of the Republic of Korea to the United States

R E P U B L I C O F K O R E A

Y.J. Choi Ambassador of the Republic of Korea to the United States

Table of Contents

Albemarle Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Allied Potato Northwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2American Hardwood Industries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Analytical Graphics, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Anderson Hay & Grain Co., Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Andrew Will Winery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Associated Aircraft Manufacturing & Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Astro-Med, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Baker Sales, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Blue Diamond Growers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Boeing Defense, Space & Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Brammo, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Bristol Compressors International, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Brown-Forman Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14CJ BIO America, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Communications-Applied Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16Cleary Gottlieb Steen & Hamilton LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Correct Craft, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Crown Hardwood Co., Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Cutters Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Dexter Laundry, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21DiSTI Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Drexel Metals, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23Fentress Architects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24FURminator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Glanbia Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26GT Advanced Technologies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27Hawaii Exports International, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28Hope Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29Justi Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30Kent Nutrition Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31Kia Motors Manufacturing Georgia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Kiswel Co., Ltd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Mark Rite Lines Equipment Company, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 34MATCOR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35MauiGrown Coffee Distributors, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36Metaldyne, LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37Morgan Thermal Ceramics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38Northwest River Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39Optimum Spring Solutions, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40Oxford Bioscience Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41PakSense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42Pelican Products, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43Phillips Syrup LLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Profile Products LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45Quality Float Works, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46Reynolds Polymer Technology, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47Ropes & Gray LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48SAS Automation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49S.I. Tech, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50Sharpe Mixers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51Smithfield Foods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52Spika Welding and Manufacturing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53Texas Instruments Incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54Tradewinds Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55Universal Display Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56Universal Weather and Aviation, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57Volpi Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58VP Records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59W R Systems, Ltd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60Welch Foods Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61Wente Family Estates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62Winix America and Winix Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63Worldwide Protective Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64

F

OverviewLorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse ac velit vitae nibh viverra biben-dum. Fusce eget elit augue, sed ornare eros. Sed nec neque massa, sit amet fermentum nisi. Integer orci tellus, tempus nec iaculis in, vehicula in lacus. Maecenas sollicitudin, dui non gravida egestas, urna ligula ultrices nisl, vel egestas est lacus in risus. Ut vitae mauris et nisl adipiscing imperdiet id et erat. Pellentesque semper luctus felis at placerat. Nam eget libero vel est semper aliquet in ut sapien. Duis cursus augue arcu, vitae auctor urna. In luctus sollicitudin rhoncus. Cras cursus massa quis leo blandit imperdiet. Cras congue tempor nulla et euismod.

ExportsNullam sit amet nisi eu nibh commodo consequat. Praesent quis urna libero. Etiam id velit in erat pre-tium elementum. Phasellus sit amet nibh libero, nec cursus justo. Mauris eu iaculis tellus. Praesent ac sem quis risus mattis interdum. Proin viverra rhoncus luctus. Nullam rhoncus imperdiet felis at lobor-tis. Vivamus pharetra ante sollicitudin sapien dapibus id rhoncus lectus imperdiet. Pellentesque eget tempus magna. Phasellus elementum malesuada neque porta elementum. Nullam molestie turpis a tortor aliquet adipiscing. In hac habitasse platea dictumst. Maecenas mollis sapien nec dui vestibulum quis dapibus leo vulputate. Integer magna odio, molestie ac scelerisque euismod, egestas volutpat quam.

GrowthEtiam tristique venenatis tempor. Morbi tortor augue, dictum consequat tempor et, malesuada eget lectus. Vestibulum malesuada gravida vestibulum. Pellentesque ut feugiat ante. Donec a odio eu dui hendrerit consequat eu a libero. Pellentesque habitant morbi tristique senectus et netus et male-suada fames ac turpis egestas. Mauris sem sapien, ullamcorper eu sodales et, ullamcorper quis nisi. Ut feugiat suscipit lorem et rutrum. In scelerisque vehicula quam at tincidunt. Sed interdum rhoncus enim, eu blandit magna mollis at. Phasellus et diam et massa placerat placerat. Nunc eget erat quis magna auctor fermentum et ut massa. Donec dapibus elit tristique nisi facilisis venenatis. Aliquam congue magna et turpis luctus eu tempor est fringilla. Fusce ultrices aliquam ligula vel tempus.

“If a small business was interested in expanding internationally, I would say first look at trading with Korea. Korean businesspeople are honest, transparent and overall, good partners. Korea is a safe place to do business, but one with significant opportunities. Just make sure that you like kimchi!”Steve Drury, Vice President, Sharpe Mixers

Name of CompanyCity, State

1

“It would be irresponsible, and nearly impossible, to ignore Korea in our space. Korea is an area of great innovation and an advanced economy with growing affluence and well-established leading industries. There is certainly value to trading with Korea.”Steve LeVan, Vice President, Advocacy Albemarle Corporation

Baton Rouge, Louisiana

Albemarle Corporation

ProfileAlbemarle Corporation, established in 1994, is a leading global developer, manufacturer and marketer of specialty chemicals for consumer electronics, petroleum refining, utilities, construction, automotive, pharmaceuticals and agriculture. The company, which has 4,100 employees in more than 30 locations around the world, has three basic business segments - Catalysts, Polymer Solutions and Fine Chemistry. In 2011, its revenue was almost $2.9 billion.

TradeFor Albemarle, deciding to trade with Korea was a logical choice. Many of its Polymer Solutions products are used by consumer electronics manufacturers, including Korean industry leaders like LG and Samsung. Today, Albemarle supplies a number of products to companies in Korea, including polymers for flame retardants and catalysts for refining. Over the past few years, Albemarle’s sales in the Korean marketplace have grown at an annual rate of almost 20 percent. The company also purchases raw materials and basic chemicals from Korea. In 2003, Albemarle established a presence in Seoul after acquiring Taerim International Corporation.

GrowthLater this year, Albemarle plans to begin operations at its newly-built research and development laboratory and manufacturing facilities in Yeosu, Korea. Among other products, the facilities will manufacture single site catalysts for polymer production. For Albemarle, the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA) creates an environment for better business and enhanced cooperation. The agreement also contains strong intellectual property provisions, which will help protect Albemarle.

Trading AdviceBefore beginning to trade with Korea, Albemarle advises reaching out to organizations like U.S. trade groups and the Korean Embassy to learn more about the Korean landscape and how to operate there. Also, when trading with Korea, Albemarle recommends thinking globally and acting locally.

2

ProfileAllied Potato Northwest grows potatoes for processing into potato chips and fresh cut french fries. Established in 2010, the company has about 35 employees and operations in Washington and Oregon.

ExportsAllied Potato Northwest has been exporting to Korea since its establishment. In the beginning, the company was approached by a Korean buyer, who asked it to become a supplier. Since then, its trade with Korea has increased as its name has become associated with a quality product. Today, the company’s largest exports to Korea are chipping and table potatoes, which are sold to snack food manufacturers, as well as wholesale and retail markets.

GrowthOver the past few years, the company has seen consistent growth ranging from 10 to 20 percent in its trade with Korea. Following implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), Allied Potato Northwest expects to be able to sell more potatoes to Korea. The tariffs on its products, which were as high as 304 percent, will be reduced or eliminated up to specified quotas during certain times of the year. This will save its buyers money, a reduction that is likely to be passed on to consumers.

Market ChangesThe KORUS FTA established duty-free quotas for 3,000 metric tons of table potatoes. Importing companies in Korea will need to bid on this quota. In 2013, the duty-free quota will grow by 3 percent to 3,090 metric tons. These changes will cause some fluctuations in the market, as companies determine which organizations will be able to take advantage of the quota. Chipping potatoes will also be able to enter the Korean marketplace duty-free at certain times of the year. As the market adjusts, Allied Potato Northwest expects to export more of its product to Korea and target those companies with quotas available.

Benefits of Trading with KoreaKorea has helped Allied Potato Northwest improve its quality processes and made it a better supplier. Korea has strict quality requirements, and by working with buyers there, the company has consistently focused on improving its supply programs to meet their needs.

“For Korean buyers interested in potatoes, the American market is a great option. The two countries get along well in business, have a strong trade relationship and establish excellent partnerships.”Jason Davenport, President and CEO Allied Potato Northwest

Pasco, Washington

Allied Potato Northwest

3

“Traveling to Korea is one of the best ways to really learn about our customers and the market in which they operate. By taking the time to meet in person, we have found that we have a much better chance of securing a long-term, successful relationship.”Ron Artz, Director of Sales -— Greater China, Japan, Korea American Hardwood Industries

ProfileAmerican Hardwood Industries (AHI) is one of the leading producers and suppliers of North American hardwood logs, lumber and flooring. The company, established in 1955, includes three subsidiaries: Augusta Lumber (Virginia), Blue Triangle Hardwoods (Pennsylvania) and Graham Lumber (Tennessee). With 650 employees in four states, it manufactures more than 110 million board feet annually. AHI produces all major American hardwood species grown in the eastern United States in many grades and specifications.

TradeAHI exports about 6,000 containers per year to customers around the world, amounting to about 75 percent of its business. The company began exporting to Korea more than 50 years ago. Today, AHI considers Korea a major market. Its customers there include importers, distributors and manufactur-ers. In some cases, these manufacturers export furniture and other products to the United States and other countries.

GrowthFor the past five years, Korea has remained a stable market for AHI. Now, with the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), AHI plans to increase its focus on the Korean market in 2013 to continue to build its business. By eliminating tariffs, the free trade agreement lowers the price of AHI’s products and makes them more attractive than hardwood from competitors in Africa, South America, Europe and Southeast Asia.

Traveling to KoreaRepresentatives from AHI travel to Korea regularly to meet with distributors and customers, both current and potential. These trips help the company keep a pulse on the Korean market and strengthen its business relationships. They are also an opportunity to promote AHI, as well as American hardwood products in general.

Waynesboro, Virginia

American Hardwood Industries

4

“When we first started looking at international markets, Korea was exactly the type of country we wanted to trade with. It had a strong alliance with the United States in defense, intelligence and space and an interest in American products. We were hopeful that our products could help Korean businesses and agencies strengthen their space and defense programs, while also allowing AGI to grow.”Matt Glenn, Manager, International Operations Analytical Graphics, Inc.

ProfileFounded in 1989, Analytical Graphics, Inc. (AGI) provides commercial modeling and analysis software and tools for the development and deployment of aerospace, defense, intelligence and cyberspace missions. A small-to-mid-sized business, the company has about 265 employees located at its headquarters in Pennsylvania and eight field sales offices around the world.

TradeThrough a hybrid of direct sales and an international reseller partner network, AGI currently trades with 35 countries. In 2006, AGI secured its first sale to a Korean client, the Korea Aerospace Research Institute (KARI). Two years later, the company established a formal partnership with KCEI, a software reseller with whom AGI continues to work. Today, its top Korean customers include the Agency for Defense Development (ADD); Korea Aerospace Research Institute; LIG Nex1 Co., Ltd.; Korea Aerospace Industries, Ltd.; Samsung Thales; Korea Astronomy and Space Science Institute; and World Industries Ace, Inc.

GrowthOver the past five years, AGI’s annual sales to Korea have more than tripled, growing to approxi-mately $500,000. To continue building its business there, AGI is participating in trade shows and events in Korea and working with U.S. Department of Commerce Export Assistance Centers (USEAC). Additionally, AGI has established educational alliance programs with INHA University and Korea Aerospace University.

Benefits of the U.S.-Korea Free Trade Agreement (KORUS FTA)While AGI does not benefit from tariff reductions, the company enjoys the intellectual property protections included in the KORUS FTA. While AGI has not had an issue in Korea previously, it feels that the protections provide extra assurance.

Trading AdviceWhen beginning to trade with Korea, AGI stresses the importance of choosing the right international partners. To select its own partners, AGI worked with the U.S. Commerce Department through the Gold Key Matching Service. For AGI, the program made the process easy and efficient by screening candidates, making recommendations and setting up meetings.

Exton, Pennsylvania

Analytical Graphics, Inc.

5

“Korea gives us a great opportunity to diversify our business. Over the years, we have been very fortunate to have been able to establish long-term customers and a great network of reliable partners in Korea. We have confidence that we will be able to move product each year from our farms and growers to the steady market in Korea.”Brian Thompson, Sales Manager Anderson Hay & Grain Co., Inc.

ProfileAnderson Hay & Grain Co., Inc., established in 1960, is a leading U.S. exporter of hay and straw products for racehorses and dairy and beef cattle. With a staff of 300-350 employees, Anderson has a presence throughout the western United States, maintaining processing facilities and a network of family-owned farms in Washington, Oregon and California.

ExportsThrough numerous shipping line contracts and business partnerships, Anderson is able to service customers throughout the world with U.S. forage products. The company currently exports to approxi-mately 20 countries in Asia, the Middle East and Europe. Anderson began exporting to Korea in 1985 as a natural progression from its growing business with Japan. Exports to Korea have grown steadily since then, with the company now exporting between 5,000 and 10,000 containers to Korea per year.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) reduces tariffs of 2 to 3 percent on Anderson’s forage products and will slowly phase out an import quota on its products into Korea. To capitalize on opportunities to expand its trade with Korea, the company is aggressively pursuing business and new customers there. Recently, Anderson opened a new facility in Wilmington, California, that has packaging options to readily supply the Korean market.

Trading AdviceAs in all markets, Anderson believes the key to success is finding good, reliable partners to work with and building on these relationships. Regular communication with business partners and trips to conduct meetings in person are integral parts of establishing successful trading relationships and learning the marketplace. In addition, Anderson advises that companies invest in the market for the long term and work with customers who match your business plan.

Traveling to KoreaRepresentatives from Anderson make regular trips to Korea. A varied group within the company travels there each year, so its salespeople, farming team, procurement staff and management are all linked to the Korean market.

Ellensburg, Washington

Anderson Hay & Grain Co., Inc.

6

“I was struck by the prominence of coffee in Seoul. The rapid growth and success of the coffee market there is encouraging, because it shows the potential for a product to grow. Once consumers became educated about coffee, they embraced it. We see the opportunity to repeat this with wine.”Robin Pollard Andrew Will Winery

ProfileAndrew Will Winery, established in 1989, is a family-owned winery on Vashon Island. The winery, named after the founder’s son and nephew, is best known for its Bordeaux style red blends. With grapes from three vineyards in Washington, the winery produces almost 5,000 cases per year.

ExportsAndrew Will Winery, which started exporting to Asia more than 10 years ago, now distributes its wines to 12 countries around the world. The winery began exporting to Korea two years ago after receiv-ing interest from importer Inquen Lee of Wine 2U Korea. In the past two years, Wine 2U Korea has imported 150 cases of Andrew Will wines.

GrowthFollowing the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), Andrew Will Winery has taken steps to expand its presence in Korea. Winery owner Chris Camarda and Robin Pollard, former director of the Washington State Wine Commission, recently traveled to Seoul to meet with key customers, retailers and restaurateurs and to become more familiar with the Korean market. With cost reductions from the KORUS FTA and increased interest in Washington wines, the winery sees opportunities to grow its business there.

Entering KoreaWhen representatives from Andrew Will Winery traveled to Korea, they saw great potential to expand the presence of Washington wines there. Currently, the Korean market is fairly young in terms of wine being a part of its culture and food experiences. Because wine is a small percentage of Korea’s overall liquor sales, competition is fierce. The implementation of the KORUS FTA creates an opportunity for Washington wines by increasing awareness of American products and lowering costs.

Importance of the Korean MarketFor U.S. wine producers like Andrew Will Winery, it is important to have a presence in different countries. These wine producers need to be involved in markets around the world in order to remain stable and succeed. For Andrew Will Winery, being in several international markets, including Korea, helps the company diversify and enhance its global image.

Yakima, Washington

Andrew Will Winery

7

“We see great potential for AAMSI in the Korean market, especially with its growing high-tech industries. Some of the new products and technologies we are developing – with both military and telecommunications applications – will fit well into the future needs of this market.”Frank A. Lannon, CEO Associated Aircraft Manufacturing & Sales

ProfileAssociated Aircraft Manufacturing & Sales (AAMSI) was established in 1953. The company, which employs around 80 people, supports American-made military aircraft, ships and products with services including manufacturing, modification, maintenance, service and repair.

ExportsAAMSI, which currently exports to 50 countries, began trading with Korea about 10 years ago. The company decided to enter the market when it saw an opportunity to fill a need by offering potential customers lower costs for aircraft maintenance and operations. The company’s trade with Korea has grown steadily since then, increasing to about $5.5 million a year.

GrowthIn June 2012, AAMSI was awarded a $1 million contract to provide electronic Identification Friend or Foe (IFF) systems to three new Republic of Korea Navy ships. The company worked with the Navy to determine system requirements, develop solutions and create customized products to meet its needs. AAMSI is also pursuing opportunities to help Korean aircraft and ships update their military systems in order to stay in line with new government mandates.

Lessons LearnedWhen trading with Korea, AAMSI has learned that business agreements take more time than Americans expect. It is important that companies entering the market allow time for Korean customers to understand who they are and what they are offering. First, a relationship must be built, and then a company can secure business. It takes time and effort, and a company must be willing to put in those resources.

Fort Lauderdale, Florida

Associated Aircraft Manufacturing & Sales

8

“Korea has always been an important market for us and our number one market in Asia. The U.S.-Korea Free Trade Agreement will be the frosting on the cake, helping us to be even more successful in the coming years.”Eric Menke, International Sales Manager Astro-Med, Inc.

ProfileAstro-Med, Inc. develops and manufactures specialty printers and data acquisition systems. Its products are used around the world in a wide range of aerospace, automotive, communications, chemical, food and beverage, medical, military, industrial and packaging applications.

ExportsAstro-Med has been exporting to Korea for more than 25 years, growing its business there to approximately $1 million per year. All four of the company’s product groups are sold to Korean customers, including Samsung, the Seoul Metropolitan Subway, POSCO and major hospitals.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) will reduce or eliminate tariffs on many of Astro-Med’s products, giving the company some price advantages over its competitors. With the combination of its new products designed with the Asian market in mind and the KORUS FTA, the company expects to be increasingly successful in Korea.

West Warwick, Rhode Island

Astro-Med, Inc.

9

“Korea is one of my favorite trading partners. I’ve always found our Korean suppliers to be one of the most honorable groups to do business with.”Robert A. Baker, President Baker Sales, Inc.

ProfileBaker Sales, Inc. is the leading regional “Mill Depot” distributor for a complete range of steel pipe and fence products. The company, which has been in business for 34 years, supplies steel pipe and fence products to both domestic and international customers. It anticipates doing about $5 million in sales in 2012.

TradeBaker Sales, Inc. imports steel pipe from countries around the world. Korea has been a favored, long-term trading partner of the company, which has had consistently positive experiences ordering from Korean steel suppliers.

GrowthOverall, Baker Sales, Inc. expects the U.S.-Korea Free Trade Agreement (KORUS FTA) to greatly strengthen the relationship and opportunities between the United States and Korea. In the future, Baker Sales, Inc. would like to expand its business with Korea. The company is looking into developing a long-term relationship with a Korean pipe mill and potentially establishing partial ownership. This would help the mill expand its business and create an opportunity to expand sales in the United States, Central America, South America and Caribbean countries.

Trading AdviceAccording to Baker Sales, Inc., some American companies are aggressive in business and want immediate results. Koreans are more likely to first want to get to know their trading partners and better understand the companies with whom they are going to do business. By taking time to build a relationship, American companies can develop stronger ties with their Korean partners and find opportunities they did not know existed previously.

Slidell, Louisiana

Baker Sales, Inc.

10

“Korea is an affluent and sophisticated market, and there are great opportunities to educate consumers there about the benefits of incorporating almonds into their diets. By making California almonds more affordable, more accessible and more competitive against other tree nuts through the KORUS FTA, we can continue to grow our exports there.”Warren Cohen, Director, Worldwide Industrial Sales Blue Diamond Growers

ProfileBlue Diamond Growers, founded in 1910, is the world’s largest tree nut processing and marketing company. It operates as a cooperative for about 3,000 almond growers in California and represents more than 50 percent of all California almond growers. Blue Diamond markets its crop to all 50 states and more than 90 countries. It has been instrumental over the years in opening many export markets and introducing California almonds to consumers worldwide.

ExportsBlue Diamond has been exporting almonds to Korea for more than 30 years and was one of the first companies to sell California almonds there. The company exports both manufactured and raw almonds to consumers, retailers and major Korean food companies. Blue Diamond has found that Korea is a constantly expanding market for almonds. The California almond industry exports millions of pounds of almonds to Korea each year, and exports increased 28 percent in the last growing season.

GrowthNow that the U.S.-Korea Free Trade Agreement (KORUS FTA) has been implemented, almond tariffs as high as 32.6 cents/kg will be eliminated over the next five years. The elimination of tariffs will open more applications for California’s almonds in Korea by making the nut more affordable, more accessible and more competitive against other tree nuts.

Sacramento, California

Blue Diamond Growers

11

ProfileThe Boeing Company is the world’s leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Boeing has a strong history of cooperation with the Republic of Korea, going back a half century. Boeing shares productive partnerships with Korea in the commercial and defense aerospace markets and is committed to fostering long-term industrial growth for Korea through high-technology solutions that create jobs. The company employs nearly 190 highly skilled workers in Seoul, Busan, Gimpo, Sacheon, Seosan and Daegu. Today, Boeing works with nearly 20 Korean companies and spent more than $250 million with them in 2011, maintaining Korea’s position in the top quartile of nations with which Boeing does business.

Boeing Defense, Space & SecurityA unit of The Boeing Company, Boeing Defense, Space & Security (BDS) specializes in innovative and capabilities-driven solutions for defense, space and security customers. Headquartered in St. Louis, BDS is a $32 billion business with 61,000 employees worldwide. In April 2012, Boeing delivered the final two of 61 Republic of Korea Air Force F-15K Slam Eagles. In October 2012, the company delivered its fourth and final 737 Airborne Early Warning & Control Peace Eye aircraft.

GrowthAs Boeing expands its global defense business, exports like these are essential to growing the business and sustaining a talented work force in the current environment. Boeing is looking ahead to new opportunities in Korea as it provides Performance Based Logistics support for the F-15K fleet. The company is offering the Silent Eagle, an evolved derivative of the F-15K, in Korea’s F-X competition for 60 multi-role fighters. The AH-64D Apache also is a contender in the AH-X competition for 36 combat helicopters for the Republic of Korea Army.

St. Louis, Missouri

Boeing Defense, Space & Security

12

“I am very happy with the insight and perspective the United States’ expanded economic ties with Korea bring. We believe it helps with the opportunity to expand Brammo to Asia.” Craig Bramscher, CEO/Chairman Brammo, Inc.

ProfileBrammo, Inc. is an automobile manufacturer specializing in electric motorcycles. Brammo’s vehicles are engineered specifically for use in congested urban areas.

ExportsBrammo plans to take advantage of expanded opportunities created by the U.S.-Korea Free Trade Agreement (KORUS FTA), which immediately cuts the 8 percent tariff on electric motor vehicles in half and eliminates it within four years. The elimination of the tariff will increase Brammo’s competi-tiveness in Asian markets and give the company greater opportunities to grow its business through exports.

GrowthBuyers of electric motor vehicles in Korea can receive tax breaks as high as $3,500, an incentive put in place to promote sales of energy-saving vehicles. The combination of such incentives and lower prices as a result of the lower tariffs make Brammo’s electric motorcycles an attractive option for Koreans. Additionally, Korea’s capital city of Seoul alone increases Brammo’s potential market of consumers by more than 10 million.

Ashland, Oregon

Brammo, Inc.

13

“At Bristol, we have found that once we meet with our Korean customers in person, communication is enhanced, and we can relate to one another better. These face-to-face relationships are extremely important in international business. Traveling to Korea also shows our sincerity in supporting the market.”Chris Robinson, Director of International Sales and Marketing, Bristol Compressors International, Inc.

ProfileEstablished in 1974, Bristol Compressors International, Inc. manufactures a full line of compressors that are used in air conditioning, heat pump and refrigeration applications. The company, with 750 employees, supplies products to original equipment manufacturers and wholesale distributors including Carrier, York, Goodman and Rheem.

ExportsBristol, which exports about half of its products, supplies compressors to customers in more than 50 countries around the world. It began exporting to Korea in the mid-1980s, partnering with a distributor who continues to represent the company today. Bristol does approximately $4 million to $5 million in business annually with Korea, a number that has remained steady over the past five years. Its Korean customers include original equipment manufacturers like LG Electronics and Samsung.

GrowthUnder the U.S.-Korea Free Trade Agreement (KORUS FTA), an 8 percent tariff on Bristol’s products was reduced. This makes the U.S. manufacturer more competitive in the Korean market. To take advantage of the opportunities under the KORUS FTA, the company is placing a renewed focus on the refrigeration segment of the Korean market. Bristol is doing product field trials with a large well-known producer in Korea to secure new business. If successful, the business will significantly increase Bristol’s sales in Korea.

Trading AdviceWhen pursuing business in Korea, Bristol recommends showing an interest in Korean culture and current affairs. Staying informed about Korean news demonstrates respect for both your business partners and their country. And, of course, you must eat kimchi.

Bristol, Virginia

Bristol Compressors International, Inc.

14

“Korean consumers understand and enjoy American brands. Establishing the propitious partnerships and leveraging the attributes that make American brands unique and desirable in the eyes of the Korean consumers will enable a company to be successful in the market.”Michael McShane, Senior Vice President and Managing Director, Asia Pacific Brown-Forman Corporation

ProfileBrown-Forman Corporation is one of the largest wine and spirits companies in the world. The company was founded in 1870 when pharmaceutical salesman George Garvin Brown began selling medicinal whiskey in glass bottles. Today, the company employs more than 4,100 people and owns world-famous brands such as Jack Daniel’s, Southern Comfort, Finlandia Vodka and Old Forester Straight Bourbon Whiskey, the original whiskey sold by George Garvin Brown.

ExportsBrown-Forman’s products are exported to more than 135 countries throughout the world. In 1998, the company opened an office in Korea and began exporting there for the first time. Today, Brown-Forman exports many different brands of spirits to Korea, including Jack Daniel’s Whiskey, one of the country’s top five imported spirit brands. Brown-Forman’s presence continues to grow in Korea, and it sees great opportunities ahead under the U.S.-Korea Free Trade Agreement (KORUS FTA).

GrowthAs a result of the KORUS FTA, there has been a spike in media coverage of American spirit brands, and whiskey brands in particular. This increased awareness, paired with the FTA’s establishment of a level playing field with European brands, provides a boost to Brown-Forman and other American spirit companies.

Importance of the Korean MarketKorea is an advanced market with a growing economy, open markets and an intelligent consumer base that enjoys American brands. For Brown-Forman, the decision to do business in Korea was an easy one. It views Korea as a key market for any company hoping to globalize its business.

Trading AdviceIf a company is not properly prepared, the channels of the Korean market can be difficult to navigate. According to Brown-Forman, before beginning to export to Korea, it is important to develop a deep understanding of the market and the segments in which you will be operating. It can be a good idea for a company unfamiliar with the market to partner with local companies that understand the ins and outs of the marketplace.

Louisville, Kentucky

Brown-Forman Corporation

15

“Fort Dodge and CJ BIO America will be very successful in combining their two cultures. Traditional Midwest values of hard work, respect for elders and an honest day’s pay for an honest day’s work are the same values that are learned in Korea.”Lucas Palmer, General Affairs Manager CJ BIO America, Inc.

ProfileCJ BIO America, Inc., part of the Korean conglomerate CJ Cheiljedang, produces Lysine, an amino acid that is used in feed for poultry and swine. CJ BIO America is currently constructing its first American facility in Fort Dodge, a community of 25,000 in central Iowa. The $320 million factory is expected to produce more than 100,000 metric tons of amino acids per year.

Investing in Fort DodgeCJ BIO America chose to partner with Fort Dodge because it offers the greatest opportunity for the company’s success in the United States. Cargill, the company’s supplier of corn starch (the largest quantity raw material used in the production process), is located immediately south of the CJ BIO America facility, allowing the factory to quickly and cost-effectively receive the corn byproducts needed for Lysine production. CJ BIO America is confident in the community’s workforce, which has flooded the company with job applications since the announcement of the factory.

Impact on the CommunityThe community of Fort Dodge believes that the addition of CJ BIO America will help solidify the area as a regional hub of economic development. The factory will create 1,200 temporary construction jobs and as many as 180 full-time positions once it is completed in 2014. The community has been quick to embrace the new factory, which is expected to provide a boost to the local retail industry and school system, in addition to potentially attracting more businesses to Fort Dodge.

Working TogetherOfficials from Fort Dodge and CJ BIO America have already built a solid foundation of cooperation. CJ Cheiljedang hosted community leaders from Fort Dodge to tour its headquarters in Korea and view a factory in China similar to the one being constructed in Fort Dodge. In return, the community hosted many Koreans for the Fort Dodge facility’s groundbreaking ceremony.

Cultural ConnectionCJ BIO America already extends itself into the community by participating in charity drives and supporting the Greater Fort Dodge Growth Alliance, an economic development organization. Within the company, CJ BIO America believes that an open exchange of culture and ideas will lead to success and a positive work environment.

Fort Dodge, Iowa

CJ BIO America, Inc.

16

“Korea is a sophisticated and technologically-advanced market, with a variety of complex communications equipment. Because of its solid infrastructure and need for rapid and reliable communications, we see great opportunities to expand our business there.”Seth Leyman, Founder and President Communications-Applied Technology

ProfileSince 1982, Communications-Applied Technology (C-AT) has designed and manufactured communications equipment for civilian and military first responders. Its radio systems, intercoms and interoperability equipment are built to withstand use in the most hazardous environments, from natural disasters to terrorism sites. The veteran-owned company, which currently has 13 employees, works with other small businesses across the United States to manufacture its products.

TradeC-AT exports to about 18 countries, including Korea. Its trade there began in 2008, when the company was approached by a Korean distributor. The distributor facilitated a deal for C-AT to develop a customized communications system for the Korean Coast Guard. The system included 65 interoperability units that allowed communications between different types of devices (e.g. from a telephone to a two-way radio).

GrowthC-AT is continuing to work with its distributor in Korea to secure new business with police and military agencies. In the next few years, the company expects that the Korean government will move forward with buying and setting up emergency communications equipment. C-AT plans to pursue that business.

Trading AdviceFor a company starting to trade internationally, C-AT offers some practical advice: become familiar with the culture of the country you are trading with, especially its holidays and vacation practices. These schedules are important to prevent communication difficulties and frustrations.

Technology AdvancesAccording to C-AT, one of the most outstanding things that has happened in international business is the improved ease of having conversations. With the help of online translation services, it is possible to have simple, real-time discussions with partners and clients, without spending a great deal of money or having long delays.

Reston, Virginia

Communications-Applied Technology

17

“It is certainly an exciting time to be practicing in Korea. A lot of Korean companies have been entering into sophisticated international transactions over the past few years, offering many great opportunities for our law firm.”Yong G. Lee, Partner Cleary Gottlieb Steen & Hamilton LLP

ProfileCleary Gottlieb Steen & Hamilton LLP (Cleary Gottlieb) is a leading international law firm with 16 offices on four different continents. Founded in 1946, Cleary Gottlieb employs approximately 1,200 lawyers worldwide, representing clients across an array of industries. The firm has been recognized for its practice in the areas of corporate governance, capital markets, financial institutions, antitrust, mergers and acquisitions, private equity, tax, regulatory, and litigation and arbitration, among many others.

International BusinessCleary Gottlieb began working with Korean clients in the early 1990s as Korean companies began expanding internationally with debt and equity offerings in the United States. The firm later represented the Korean government as it restructured the debt of its banking sector and offered bonds internationally for the first time during the Asian financial crisis of the late 1990s. Today, Cleary Gottlieb practices many different areas of law for large Korean corporations including POSCO, Lotte and Samsung.

GrowthWith all but two of its offices located outside the United States, Cleary Gottlieb’s global reach is unparalleled. Following the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), it moved quickly to open an office in Seoul. The office officially opened on October 15, 2012. Cleary Gottlieb has 10 associates in its Korean practice and expects its office to grow significantly over the next few years.

Benefits of Opening an Office in KoreaBy establishing an office in Seoul, Cleary Gottlieb can serve both its Korea-based clients, as well as clients outside the region doing business there, more efficiently and effectively. The firm can also utilize its presence on the ground to broaden its relationships in the region and cultivate new clients. Additionally, the office gives Cleary Gottlieb an advantage over law firms without a presence in Korea when it pursues new business.

Impact of the KORUS FTABy promoting trade between the United States and Korea, the KORUS FTA also increases the need for legal services for resulting business transactions. While Cleary Gottlieb expects increased business opportunities for all law firms practicing in Korea, it plans to capitalize further on the agreement by also pursuing synergistic opportunities among its practices throughout the Asian region, as well as in the United States.

New York, New York

Cleary Gottlieb Steen & Hamilton LLP

18

ProfileFor almost 90 years, Correct Craft, Inc. has manufactured boats designed for waterskiing and other tow-oriented water sports. Today, Correct Craft’s Nautique powerboats are the official towboats of many water sport tournaments around the world.

ExportsCorrect Craft has been exporting boats to Korea for 20 years, where wakeboarding continues to gain popularity. This year, Nautique powerboats were the exclusive towboats at the IWWF Asian Australasian & Oceanian Waterski & Wakeboard Championships in Chuncheon, Korea.

GrowthWith the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), the 8 percent tariff on Nautique powerboats will be eliminated over the next three years, creating significant opportunities for Correct Craft in Korea. First, the agreement will allow Correct Craft to be more cost competitive in doing business with local distributors. It will also decrease the amount of time that it takes Correct Craft to get its boats to customers, a major advantage with a seasonal product. Additionally, the KORUS FTA raises awareness of U.S. products in Korea, making them a more attractive option.

“We have just scratched the surface of what we can do in Korea. With the benefits of the KORUS FTA, plus our long history of providing innovative and high-quality products, we look forward to continuing to grow our relationships with Korean consumers.”Bill Yeargin, President and CEO Correct Craft, Inc.

Correct Craft, Inc.Orlando, Florida

19

“The differences among various grades of wood remind me of a jewelry store. You find glass pearls in one division and diamonds in another. The Korean market is a very sophisticated one. Right now, the Koreans want diamonds, and that is Crown’s specialty.”Peter Schlobach, Owner Crown Hardwood Co., Inc.

ProfileIn 1846, Carl Wilhelm Franz Schlobach started sawing veneer at the Thomas Mill in Leipzig, Germany. Five generations later, his family business continues in West Grove, Pennsylvania, as Crown Hardwood Co., Inc. and Crown Veneer Corp. With four large operations in the United States, Crown Hardwood annually exports about 24,000 tons of veneer and lumber logs from many U.S. species, including walnut, white and red oak, cherry and ash. Crown Veneer Corp imports architectural veneer from around the world and produces maple, cherry and walnut veneers in the United States for export.

ExportsCrown entered the Korean market in 1980 when Korea had a robust plywood-manufacturing industry. In recent years, however, the Korean market has evolved to demand higher-grade woods. Today, Crown sells logs to Korean furniture, tabletop and reconstituted veneer manufacturers.

GrowthThe reduction of tariffs by the U.S.-Korea Free Trade Agreement (KORUS FTA) allows consumers to more easily afford high-quality wood furniture and tabletops manufactured in Korea. Often, Americans are more attracted to wood that was grown in the United States, enabling Crown’s hardwood and veneer businesses to benefit from Korean manufacturers capitalizing on trade under the KORUS FTA.

Importance of the Korean MarketMany international markets have seen a decline in demand for furniture since the U.S. housing bubble burst in 2008. While the American housing market continues to rebound, many Korean manufacturers find increased business opportunities at home in their domestic market. Korea’s economy has remained strong, creating an increased demand for high-quality furniture, panels, flooring and tabletops among its growing middle class.

Doing Business in KoreaCrown admires the savvy of its Korean clients. According to the company, Korean clients are extremely focused on buying the highest-grade wood so that they can provide the greatest possible value to their consumers.

West Grove, Pennsylvania

Crown Hardwood Co., Inc.

20

ProfileCutters Edge manufactures chainsaws engineered for use in fires or collapsed buildings. Its saws are designed to withstand some of the most extreme conditions. Fire departments all over the world use Cutters Edge saws to conduct rescues.

ExportsCutters Edge exports internationally to distributers across North America, Europe and Asia. The elimination of the 8 percent tariff on chainsaws will provide Cutters Edge with new opportunities and incentives to export to Korea.

GrowthNow, through outreach efforts to distributors, manufacturers and local governments, Cutters Edge is researching the possibilities to expand operations by entering the $1.7 million Korean market with its chainsaws.

Baker City, Oregon

Cutters Edge

21

“The KORUS FTA benefits everyone. For Dexter Laundry, this means that our products are now more competitive with products manufactured elsewhere around the world. This provides coin-op laundry equipment purchasers in Korea with a greater range of products at the most competitive prices.”Daniel Chen, International Sales Manager Dexter Laundry, Inc.

ProfileDexter Laundry, Inc. has manufactured laundry equipment since 1894. For the past 50 years, the company has specialized in manufacturing washers and dryers for self-service laundries (laundromats), as well as non-coin-operated industrial strength washers and dryers for hospitals, hotels and other institutions that have large on-site laundry needs. For more than a quarter of a century, the company has been 100 percent employee owned through an employee stock ownership plan.

ExportsAfter entering the Korean market in 2002, Dexter Laundry has steadily grown its business and now considers the country one of its important international markets. The company’s business in Korea comes from sales of washers and dryers both in self-service coin-op laundries and on-premise laundry such as hotel and hospitality markets.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) eliminates tariffs on Dexter Laundry’s exports to Korea, leveling the playing field with its European competitors who already benefit from a free trade agreement with Korea. The company looks forward to building positive momentum through the KORUS FTA. As trade barriers are reduced, Dexter Laundry is developing additional top-quality products for the Korean market.

Importance of the Korean MarketDexter Laundry has grown steadily over the past decade in the Korean market. Although Korea is a country that has traditionally relied on hang drying its clothes, as the middle class grows and machines become more affordable, Dexter Laundry sees a great opportunity to help shape a new culture for laundry consumers.

Lessons LearnedAfter spending time in the Korean market, Dexter Laundry has tailored its marketing to fit the specific needs and desires of Korean consumers. In Korea, it markets its products for their durability, reliability and energy efficiency. Dexter Laundry also pursues business in Korea via various marketing channels such as trade shows, social media and seminars, conducted as much as possible in the Korean language.

Fairfield, Iowa

Dexter Laundry, Inc.

22

ProfileDiSTI Corporation, established in 1994, is a global leader in the development of Human Machine Interface software and technologies for businesses, governments and the military. Its products enable programmers and developers to build high-fidelity graphics, 3D simulations and fully interactive controls and displays for the aerospace, defense, medical and automotive industries.

ExportsDiSTI, which has about 3,000 end users in 40 countries, exports its software to Korea for use in the military and commercial training and simulation markets. Its customers include the Korean Agency for Defense Development, Korea Aerospace Industries Ltd., DNSK and Korean Air. While the company began trading with Korea about eight years ago, it has seen significant growth in the last few years, growing its business there by more than 30 percent between 2009 and 2011.

GrowthDiSTI has started to explore uses for its products in the Korean automotive market. With the U.S.- Korea Free Trade Agreement (KORUS FTA) in place, there are more Korean automobiles entering the U.S. market and, as a result, greater opportunities with Korean automotive manufacturers. Currently, DiSTI is working to gain more visibility in the market and open negotiations with Korean automotive companies.

Trading AdviceFor companies looking to trade with Korea, DiSTI recommends learning more about the business culture there. For example, Korea has a hierarchical business structure, where appropriately interacting with people at different levels in the organization can require sensitivities not readily apparent to Western businesses.

Insight into the Korean MarketAccording to DiSTI, it is important to find companies and partners in Korea willing to take a risk and introduce a new technology to the market. If a product is not currently being used by the Korean market, companies need to demonstrate through detailed analysis how it is manufactured, how it can be used, its expected return on investment, etc. Once a product has been accepted, however, a company can start to do a significant amount of business in Korea.

“For DiSTI, Korea is the next big growth area in Asia. We have seen significant growth there in the last few years and are working to further increase our presence. Korea is a technologically advanced and friendly country with the United States, and we have found it an easy and pleasurable place to do business.”Christopher P. Giordano, Director, Global Sales & Support DiSTI Corporation

DiSTI CorporationOrlando, Florida

23

“Our recently-retired company founder wanted to utilize our experience in the United States creating roofing systems for military buildings. After looking at prospects around the world, Korea was identified as a market worth pursuing and one where there were significant opportunities for us to grow.”Steve Spragale, Director of Government and International Programs, Drexel Metals, Inc.

ProfileDrexel Metals, Inc., established in 1985, is a provider of equipment, materials, engineering and warranties for the production of standing seam metal roofing systems in military buildings. The company, which has 65 employees at five locations around the United States, sells its products and services to the construction industry and to the United States Department of Defense (DOD).

ExportsDrexel Metals currently exports to six countries directly or through its customers. The company began trading with Korea in 2012, completing its first shipment of equipment to a client working with the DOD to manufacture roof panels for U.S. military buildings in Korea. Drexel Metals also conduct-ed on-site equipment trainings in Korea and plans to perform inspections of finished buildings.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) lowered the overall cost of Drexel Metals’ equipment going into Korea, making the company more competitive. As a next step to capitalize on opportunities there, Drexel Metals will provide support and information to its Korean partner as it bids on new contracts. For new projects secured by its partner, Drexel Metals will conduct inspections and potentially sell more equipment.

Importance of the Korean MarketAs a close ally of the United States, Korea has a substantial U.S. military presence in need of facilities, housing, offices, etc. Because construction activity must be done to U.S. specifications, Drexel Metals’ expertise positioned it well to enter the market. Drexel Metals believes that Korea will become a significant market for the company.

Traveling to KoreaRepresentatives from Drexel Metals have traveled to Korea several times since the company began pursuing business there. The trips have been conducted to explore opportunities in Korea and meet with potential partners. Most recently, representatives from Drexel Metals traveled to Korea to follow-up on equipment sales and conduct on-site trainings.

Louisville, Kentucky

Drexel Metals, Inc.

24

“The KORUS FTA’s intellectual property provisions not only protect us, but also make Korean companies more open to partnering with us. This makes Korea an even more attractive market and helps us to pursue projects there with more vigor.”Curtis Fentress, Principal-in-Charge of Design Fentress Architects

ProfileFentress Architects is a global design firm focused on the creation of sustainable and iconic architecture. Founded in 1980, the firm has designed $26 billion of architectural projects worldwide that are visited by more than 300 million people each year. In addition to its headquarters in Denver, Fentress has studios in California, Washington, D.C., and London. The firm will be opening a studio in China in late 2012.

ExportsFentress first entered Korea in the early 1990s in a partnership with a consortium of four Korean architecture firms in a design competition for Incheon International Airport in Seoul. Fentress and the consortium were unanimously selected to design the airport, with Fentress serving as prime designer. The airport opened for business in 2001. Since then, Incheon International Airport has been voted the “World’s Best Airport” seven years in a row by the Airports Council International.

GrowthIn anticipation of implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), representatives from Fentress made numerous trips to Korea to meet with contractors on possible projects. Among other benefits, the FTA’s strong provisions regarding intellectual property rights make Korea an increasingly attractive market. By protecting both Fentress and Korean companies, there are more opportunities to partner and pursue design projects there.

Denver, Colorado

Fentress Architects

25

“As a global pet brand, we serve pet parents around the world. Korea is a key market for us and one that we are committed to growing. The KORUS FTA helps us better compete and makes our products more affordable to consumers.”Aaron Witt, Director of International Sales FURminator

ProfileFURminator was started almost 10 years ago with the development of the FURminator® deShedding Tool to safely, efficiently and comfortably remove a pet’s loose undercoat and reduce shedding. Since then, the company has expanded the tool into a full product line of deShedding tools, grooming tools, hair care products, and pet bathing and hygiene solutions. Since its founding, the company has grown to more than 30 employees doing approximately $40 million per year in business.

ExportsFURminator currently exports to about 60 countries around the world. The company began exporting to Korea in 2010, after determining that Korea had a strong market for premium pet products. With the help of a Korean distributor, FURminator began selling its products to pet stores, veterinary clinics and grooming salons there. Since then, the company has developed Asia-specific packaging and grown its sales to Korea by more than 100 percent each year.

GrowthThe implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA) has allowed FURmina-tor to lower its prices for its customers, helping it better compete in the Korean market. The company is continuing to grow its business there and plans to roll out new video merchandising displays for Korean retailers.

Insight into the Korean MarketAfter traveling to Korea, FURminator employees realized that pet stores in the country were signifi-cantly smaller than those in the United States. To adapt to the needs of the market, FURminator cre-ated different sizes of its displays to better accommodate stores in Korea.

Trading AdviceFor companies interested in trading with Korea, FURminator recommends traveling to the country to meet prospective partners in person. This allows companies to experience the market firsthand, select the best partners and develop localized materials.

Fenton, Missouri

FURminator

26

“We could never have grown as successfully as a company if we had not begun trading outside of the United States. In Asia, Korea is a cornerstone market. The KORUS FTA opens opportunities for us to grow throughout that part of the world.”Dave Snyder, Vice President, Global Business Development, Glanbia Foods, Inc.

ProfileGlanbia Foods, Inc. is one of the world’s largest producers of cheese and whey protein. The company has production facilities in Twin Falls, Gooding and Richfield, Idaho, as well as a joint venture in Clovis, New Mexico. Together, these facilities produce about 830 million pounds of cheese per year, including American, Cheddar, Colby, Colby Jack, Pepper Jack and Monterey Jack varieties.

ExportsAfter exporting whey proteins and lactose to Asian markets since the early 1990s, Glanbia Foods expanded its exports to include cheese in 2007. That year, Korea imported nearly 20 million pounds of cheese from the United States. In 2012, Glanbia Foods expects Korea’s cheese import market to be as high as 80 million pounds. The company’s most popular cheese export to Korea is Cheddar, which is often used as an ingredient in the manufacture of foods and other cheeses.

GrowthBefore the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), cheeses such as Cheddar had tariffs higher than 30 percent. Under the agreement, those tariffs are being incrementally reduced until they are eliminated completely in 2021. The cost reduction will make Glanbia Foods’ products more attractive in the Korean market. The KORUS FTA also gives Glanbia Foods a com-petitive edge over non-free trade countries including New Zealand, which has been the predominant exporter of cheese to Korea for many years.

Importance of the Korean MarketFor Glanbia Foods, Korea is a mature trading market with significant growth potential. As a global company, it was essential for Glanbia Foods to establish itself in Korea. Now, thanks to the KORUS FTA, its strong presence in the Korean market gives Glanbia Foods a competitive advantage in Asia.

Trading AdviceAccording to Glanbia Foods, the Korean marketplace is fast paced, so it is important for American companies trading with Korea to move quickly. While Korean businesses often take time at the beginning to establish a relationship, they expect products and services quickly once a partnership is in place.

Twin Falls, Idaho

Glanbia Foods, Inc.

27

ProfileGT Advanced Technologies, founded in 1994, designs technologies that serve the solar photovoltaic (PV) and LED industries by improving quality while reducing cost. With nearly 650 employees world-wide, GT specializes in Directional Solidification System (DSS) technology, which is used to produce materials for solar panels. GT also designs crystal growth technology to produce materials used in LED chips.

ExportsFrom its beginning, GT made a strategic effort to enter Asian markets including Korea, where its industries of focus were quickly growing. Today, GT has sales offices in Seoul, Taipei and Shanghai. GT’s products serve both PV manufacturers in Korea, as well as large corporations that utilize the company’s LED technologies.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) gives companies such as GT a competitive edge in the global market. Still in its youth, the global solar industry remains more expensive than traditional grid power and requires continued innovation to position itself as a sustainable energy source. By promoting the exchange of technology and goods through the elimination of tariffs, the KORUS FTA not only benefits GT, but the solar industries in Korea and the United States.

Importance of the Korean MarketGT considers Korea a mature manufacturing country that offers immense opportunities for the company’s technologies. While the solar PV and LED industries have been steadily growing in Asia for years, Korea has recently emerged as one of the region’s preeminent markets for high-quality projects and innovation.

Doing Business in KoreaGT admires the respect and hospitality that company representatives are given by Korean partners on business trips. Additionally, GT views Koreans as sophisticated manufacturers, ideal for establish-ing long-lasting partnerships.

“In addition to being a mature manufacturing nation, Korea is one of the most innovative countries in the world with regards to solar energy. The openness created by free trade with Korea is a boon not only for this company, but for the advancement of the industry.”Jeff Nestel-Patt, Director of Marketing Communications, GT Advanced Technologies

Nashua, New Hampshire

GT Advanced Technologies

28

“The KORUS FTA will lift tariffs on many Hawaiian products and help us facilitate more business with Korea for our clients. The agreement has helped us feel reinvigorated about trading with Korea.”Michael Rakieten, Managing Director Hawaii Exports International, Inc.

ProfileHawaii Exports International, Inc. (HEI), established in 2009, helps Hawaiian companies and products enter international markets. The company works primarily with small- to medium-sized organizations interested in exporting for the first time. HEI assists with all aspects of exporting, including developing an export business plan, finding in-country partners, attending trade shows and advertising.

TradeThrough its clients, HEI exports Hawaiian consumer goods including macadamia nuts, coffee, tea, sea salts and Spirulina nutraceutical products to eight countries. It started trading with Korea in 2010, when it connected a participant from a Korean trade mission to Hawaii with Kona and KA’U coffees.

GrowthFor HEI, the U.S.-Korea Free Trade Agreement (KORUS FTA) lifts tariffs on many of the products that it exports to Korea. To capitalize on opportunities for its clients, HEI is currently talking with a major retailer interested in selling and marketing Hawaiian coffee and nut products throughout Korea. HEI also began collaborating with the Hawaii Department of Agriculture, the U.S. Commercial Service, the Western United States Agricultural Trade Association and the Korean Chamber of Commerce in Hawaii to identify new tools and opportunities to expand its clients’ business in Korea.

Korean ConsumersKoreans are one of the largest tourism groups visiting the Hawaiian islands. During their visits, many of these tourists gain knowledge of Hawaiian products and brands. They represent a significant op-portunity for HEI to capitalize on consumers who are already aware of, and interested in, Hawaiian products.

Insight into the Korean MarketWhen it first began exporting Hawaiian coffee to Korea, HEI was impressed by the sophistication of the Korean market. The interest in coffee, especially specialty products, in Korea spans all age groups and demographics. The extensive coffee market in Korea represents significant opportunities for HEI’s clients.

Honolulu, Hawaii

Hawaii Exports International, Inc.

29

ProfileHope Global, founded in 1883, develops and manufactures engineered textile solutions for automotive, commercial and industrial uses. Today, about 70 percent of the company’s business is automotive related in North America, South America, Europe and now, Asia. The company has also begun exporting its braided products to Asia.

ExportsOver the past several years, Hope Global has concentrated on growing its trade with Asia, especially as its customers with global footprints were increasingly doing business there. Recently, Hope Global hired a business development director for Asia and secured a significant client in Korea.

GrowthWith the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), tariffs on Hope Global’s products are eliminated or reduced. This makes the company more competitive in Korea by giving its customers, as well as potential customers, an immediate price cut. This is especially important in the automotive market, where companies are continually looking for ways to decrease costs. Since the implementation of the agreement, Hope Global has visited Korea to meet with companies and groups there to discuss future business opportunities.

“As our customers have increasingly gone global, we have done the same and strengthened our focus on international trade, especially in the Asian markets. The KORUS FTA not only provides immediate benefits to our customers in Korea, but also makes us more competitive when pursuing potential customers.”Jack Waksman, Senior Vice President, Business Development, Hope Global

Cumberland, Rhode Island

Hope Global

30

“Korea is an especially easy place for American companies to do business. We have fairly similar business cultures; there is a high-level of consumer sophistication in Korea; we have the benefits of a free trade agreement; and we have a strong and longstanding relationship.”Henry D. Justi, Director of International Sales Justi Group, Inc.

ProfileJusti Group, Inc. (JGI) is a privately owned holding company with roots dating back to 1865. Today, subsidiaries of JGI include Esschem, California Chemical Specialties, Esstech, Specialty Glass and EssPac. These manufacturing companies create highly specialized chemicals and other materials for use in dental, cosmetic, audiology, medical, pharmaceutical and related applications. The company, which currently has 150 employees, has seen five generations of leadership by the same family.

ExportsJGI sells to small- and medium-sized companies in more than 120 countries worldwide. It has been doing business in Korea for more than 20 years, through direct orders and a regional sales associate stationed in Asia. Before the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), JGI’s products faced tariffs of 3 to 10 percent, which were reduced by the agreement.

GrowthOver the past year, JGI has seen significant growth of its business in Korea and throughout Asia. Company representatives have regularly traveled to Korea for tradeshows like Cosmobeauty Seoul and meetings with potential customers. The company has also invited many of its customers to visit its facilities in Pennsylvania.

American Products in KoreaIn many of the industries that JGI serves, American companies are considered the most advanced. This helps JGI because Korean companies often look to emulate their American brand name counterparts. They are interested in what American companies are doing and want to make sure that they are keeping pace with American brand names.

Berwyn, Pennsylvania

Justi Group, Inc.

31

“Our Korean distributor operates with consistency, and our relationship continues to grow more and more positive over time. Korea has been a great partner for our business.”John Thorpe, President Kent Nutrition Group, Feed Division

ProfileKent Nutrition Group is a family-run business that has manufactured nutrition-focused animal feed since 1927. The company has about 500 employees at 17 manufacturing sites across the United States. Kent has expanded its business from cattle feed to include feed production for dairy, swine, sheep, horses, goats and poultry. It has even produced product offerings for alpacas, llamas and zoo animals. Today, products are marketed under the Kent Feeds and Blue Seal brands.

ExportsIn recent years, the company has increased its focus on international trade. Kent began working with a Korean distributor in 2003 to export specialized products for the swine industry and quickly expanded to include beef and dairy products. Demand for its dairy cow product, a hard molasses substance that provides nutrition as cows lick it, has been growing in Korea since its introduction there in 2008. The company currently exports more than 300 tons a year of its dairy product offerings to Korea.

GrowthKent is interested in taking advantage of the simplification of conducting business in Korea under the U.S.-Korea Free Trade Agreement (KORUS FTA). Recently, Kent has instituted internal programs to prepare employees for the logistical challenges of trading in overseas markets.

Marketing in KoreaKent adapts the package size of its products to fit the needs of its Korean consumers. When export-ing to Korea, the company offers smaller containers since many Korean pastures are not as large as those in the United States.

Trading AdviceKent recommends that companies trading perishable goods have a comprehensive understanding of any necessary paperwork. If a company with time-sensitive shipments does not have a thorough understanding of the rules and regulations, its shipments can be delayed or ruined.

Muscatine, Iowa

Kent Nutrition Group

32

ProfileKia Motors, a Korean-based automobile company and the fastest growing car company in the United States, opened its first North American manufacturing facility in West Point, Georgia, in 2009. Kia Motors opened the $1.1 billion plant, Kia Motors Manufacturing Georgia (KMMG), to build a stronger relationship with the United States, one of its most important markets.

GrowthThe Georgia facility, which manufactures the Kia Sorento, Kia Optima and Hyundai Santa Fe, currently employs about 3,000 team members. Together with on-site and local suppliers, the facility has been responsible for the creation of more than 10,000 jobs around West Point. In September 2011, KMMG increased its production capability to 360,000 vehicles per year. With the expansion, nearly half of the Kia vehicles sold in the United States in the first six months of 2012 were built in Georgia.

Relationship Between United States and KoreaKMMG and Kia Motors headquarters in Korea maintain a close working relationship. Kia Motors offers KMMG employees the opportunity to train at the company’s research and development center in Namyang, Korea. The training helps the company’s employees connect with one another and share their cultures and ideas. More than 1,400 KMMG employees have participated in the program.

Community InvolvementKMMG has established itself as a respected corporate citizen in Georgia. In 2011, the facility donated $1.5 million to the American Red Cross for its tornado relief efforts in the state. Additionally, KMMG, whose economic impact on the region is estimated to be $4 billion per year, was recently named “Large Manufacturer of the Year” in Georgia.

West Point, Georgia

Kia Motors Manufacturing Georgia

33

ProfileFounded in 1969, Kiswel Co., Ltd. is a welding, engineering and chemical company headquartered in Seoul, Korea. In 2007, Kiswel opened a manufacturing plant in Kentucky. With more than 50 employees, the Kentucky manufacturing plant produces welding consumables and welding wires used in construction, shipbuilding, automobiles and railroads.

GrowthKiswel opened a plant in the United States to be closer to its customers and to capitalize on opportu-nities in the U.S. welding industry. Today, the Kentucky manufacturing plant plays a significant role in Kiswel’s North and South American operations. During the last three years, Kiswel’s Kentucky facility has seen a growth in exports and has been able to expand its workforce.

Relationship Between United States and KoreaThe Kentucky facility maintains close ties with Kiswel’s headquarters in Seoul. Representatives from both the Korea headquarters and the Kentucky manufacturing plant regularly travel to the other location to meet with team members. Kiswel conducts these visits to keep everyone in the company in close and harmonized communication.

Trading AdviceAccording to Kiswel, companies interested in expanding into Korea should do adequate research to ensure they fully understand the marketplace. In addition, developing relationships with people familiar with the Korean market is important. Finally, Kiswel advises companies to consider the strong emphasis that Koreans place on respect, especially when meeting with clients.

Florence, Kentucky

Kiswel Co., Ltd.

34

“The KORUS FTA actually is an incentive for our customers to buy from us because it lowers the tariff on the product that they’re importing into their country. It’s a win-win for both of us, helping us keep jobs in Montana and Montanans employed here.”Jim Spielman, President Mark Rite Lines Equipment Company, Inc.

ProfileMark Rite Lines Equipment Company, Inc. (MRL) began as a small, family-owned contracting company in 1976, growing to become the largest manufacturer of truck-mounted road-marking machines in the United States. The company, which makes high-quality, high-output road-marking equipment for both private organizations and government agencies, has about 120 employees in its manufacturing and contracting divisions.

ExportsOverall, MRL exports 18 to 20 percent of its annual sales to countries including Korea, Australia, Turkey, Chile, Canada, Mexico and Saudi Arabia. MRL has exported to Korea since 2006, when it sold its first truck to Dae Dong Safety Company Ltd. Since then, MRL has sold additional trucks, parts and onsite support. Now, MRL is designing and manufacturing 12 custom equipment sets for Dae Dong, a $1.5 million sale that will take almost a year to complete.

GrowthMRL has seen an increase in demand for its equipment both around the world and in Korea. MRL recently received inquiries from other groups in Korea, as the U.S.-Korea Free Trade Agreement (KORUS FTA) has promoted international trade between the two countries and made American products more competitive.

Marketing its ProductsWhen MRL sold its first truck to Dae Dong, it was a design commonly sold in the United States. When Dae Dong ordered more trucks, it requested modifications to make the equipment more suitable for the Korean market. Now, with any new inquires, MRL has the insight and knowledge to customize its products to better meet the needs of Korean customers.

Trading AdviceAccording to MRL, when trading with Korea, it is imperative that companies have face-to-face contact with potential customers and start to establish a relationship based on mutual trust and respect. When MRL was first approached by Dae Dong, a company representative traveled to tour its Billings facility and met with the MRL team in person before ordering any equipment. MRL’s representatives and technicians have since made numerous visits to Korea to support Dae Dong’s operations and discuss new equipment purchases.

Billings, Montana

Mark Rite Lines Equipment Company, Inc.

35

“Korea is a productive country with many sophisticated buyers who want to know why their clients would be interested in a specific product. If a company’s products have competed successfully in the global market, Koreans will value that. ”Ted Huck, Vice President MATCOR, Inc.

ProfileMATCOR, Inc. designs, engineers and provides systems and services that prevent the corrosion of metals. Since 1975, the company has sold products using cathodic protection, an electrical process to protect metals, to customers in the oil and gas, electric utility, transportation and construction industries. With about 50 employees, the company has manufacturing facilities in Doylestown, Pennsylvania, and an engineering and field service office in Houston, Texas.

TradeMATCOR manufactures all of its products in the United States, selling to customers around the world. It began exporting to Korea about 10 years ago, after being approached by a Korean customer. Through its in-country representative, MATCOR has provided products and services for major projects including the Sihwa Lake Tidal Power Station, one of the world’s largest tidal power plants, and the Busan-Geoje Fixed Link, a bridge-tunnel that connects the Korean city of Busan to Geoje Island. Recently, the company began selling linear anode products to Korea for plants, pipelines and storage tanks.

GrowthOver the years, MATCOR’s business with Korea has remained steady, keeping the country as one of its top five export markets. Korean companies do a significant amount of engineering business world-wide, so MATCOR has continued to pursue sales with organizations working on engineering projects both in Korea and internationally.

Importance of International TradeApproximately 15 percent of MATCOR’s business is generated from international sales. For a company in a niche market like MATCOR, a diversified client base, with customers around the world, is extremely important.

Trading AdviceAccording to MATCOR, Koreans are pragmatic businesspeople. One of the keys to successfully conducting business in Korea is to be upfront, explain your strengths and position a product or service properly.

Doylestown, Pennsylvania

MATCOR, Inc.

36

“The efficiency and attention to quality in Korea astounds me. We are very excited to build and expand upon our great relationships in Korea.”James ‘Kimo’ Falconer, President MauiGrown Coffee Distributors, LLC

ProfileWith its first harvest in 2004, MauiGrown Coffee Distributors, LLC became the only coffee grower native to the island of Maui. With 15 employees and about 420 acres, MauiGrown Coffee currently grows between 300,000 and 500,000 pounds of coffee per year, consisting of four varieties: Yellow Caturra, Red Catuai, Guatemalan Typica and its signature variety, Maui Mokka.

ExportsMauiGrown Coffee started exporting to Asia through a broker in Japan, where its coffee has consistently grown in popularity over the past several years. Hoping to expand its reach throughout the region, MauiGrown Coffee placed its first direct sale to Korea on August 1, 2012, for nine bags (900 pounds). MauiGrown Coffee expects its orders from Korea to increase to between 50 to 100 bags after its next harvest.

GrowthMauiGrown Coffee plans to establish itself in Korea by gradually increasing its sales to potentially as high as 500 bags (50,000 pounds). MauiGrown Coffee is optimistic about its venture into Korea and believes that the U.S.-Korea Free Trade Agreement (KORUS FTA) will simplify the export process.

Importance of the Korean MarketAs a fairly young company, MauiGrown Coffee is excited to be selling to the Korean market for the first time. Korea is not only a center of trade in Asia, but also a large cultural influence in the region. By being successful in Korea, MauiGrown Coffee believes it can continue to expand its business.

Korean Coffee PreferencesAfter researching the Korean market, MauiGrown Coffee found that Korean coffee drinkers enjoy exotic and exclusive coffees. Because Maui Mokka is both high quality and somewhat low in supply, MauiGrown Coffee thinks that it can find a successful niche market in Korea.

Showing in KoreaTaking advantage of the open trade between the United States and Korea, MauiGrown Coffee is attending coffee trade shows in Korea. The company hopes to raise awareness of its products and identify local distributors and business partners. Additionally, MauiGrown Coffee is excited to learn more about Korean coffee culture and techniques. The lessons it learns will help MauiGrown Coffee adjust its marketing efforts to better resonate locally.

Lahaina, Hawaii

MauiGrown Coffee Distributors, LLC

37

“The Republic of Korea is one of Metaldyne’s most important regions for our global business. The free trade agreement between the United States and Korea offers additional incentive for Metaldyne to invest in the region and further support our customers in North America.”Thomas Amato, President and CEO Metaldyne, LLC

ProfileMetaldyne, LLC, is a leading global designer and supplier of metal-formed components and assemblies principally for powertrain applications in the automotive and light truck markets. Metaldyne has more than $1 billion in annual revenue and 25 locations across 13 countries.

TradeThe Asian market is a key part of Metaldyne’s global strategy. Since 2004, Metaldyne has had a manufacturing presence in Korea at its plant in Pyeongtaek. The facility produces balance shaft modules, which are supplied to the local Korean market and exported to Hyundai’s engine plant in Alabama. Metaldyne also imports raw materials from many businesses in Korea to its U.S. op-erations. In fact, Metaldyne imports more of its materials from Korea than any other country. The U.S.-Korea Free Trade Agreement (KORUS FTA) encourages such trade.

GrowthThe KORUS FTA provides Metaldyne an incentive to continue growing its business in Korea. Since Metaldyne opened its manufacturing facility in 2004, the sales of the plant have grown significantly and are expected to continue growing in the future.

Importance of the Korean MarketKorea is an important part of Metaldyne’s global footprint, and the company continues to invest in the region to support its customers. The KORUS FTA helps facilitate Metaldyne’s relationship with Hyundai, one of the company’s most valued customers.

Doing Business in KoreaMetaldyne values its relationship with all of its Korean business partners and its team members at the Metaldyne manufacturing plant in Pyeongtaek, Korea. The Metaldyne Pyeongtaek team has an excellent safety and quality record, and the company looks forward to many years of continued success in Korea.

Plymouth, Michigan

Metaldyne, LLC

38

ProfileMorgan Thermal Ceramics serves a broad spectrum of industrial and commercial markets with insulation requirements from 500°C to 1600°C. Its high temperature insulating fibre, bricks and monolithics enable users to optimize thermal efficiency, reduce energy costs and improve environmen-tal performance through reduced CO2 emissions. Its engineering teams design specialized insulation systems for petrochemical, iron and steel, and primary aluminum plants around the world.

TradeKorea has been an important trading partner for Morgan Thermal Ceramics for more than 20 years. Its main exports include fire insulating brick and blankets, as well as insulated paper. The company also imports materials from Korea. The growth of its trade led the company to open an office in Seoul and a manufacturing plant in Daegu. These operations, called Morgan Thermal Ceramics Korea (MTCK), are now one of the company’s largest manufacturers and distributors in Asia.

GrowthThe opportunities for Morgan Thermal Ceramics are twofold under the U.S.-Korea Free Trade Agreement (KORUS FTA). As a company that both exports to and imports from Korea, many of Thermal Ceramics’ products will become duty-free for its customers, while it experiences similar price breaks on its own imports.

Importance of the Korean MarketKorea has become one of Morgan Thermal Ceramics’ most attractive overseas markets. Morgan Thermal Ceramics’ business with Korea has made a significant impact on the company’s international sales. MTCK now employs more than 75 full-time employees and offers a wide range of products.

“We have found that in many cases, Koreans have needs and wants similar to our American consumers. Over the years, Korea has been a great trading partner. Now with the KORUS FTA in place, Korea is just as easy to export to as Europe.”Arthur Griffin, Export Analyst Morgan Thermal Ceramics

Augusta, Georgia

Morgan Thermal Ceramics

39

ProfileAbout 40 years ago, a college business professor with a passion for paddling started Northwest River Supplies (NRS) to provide products for the niche market of whitewater rafting and kayaking. Today, the company manufactures thousands of products from oars to lifejackets for paddling enthusiasts all over the world.

TradeNRS exports to approximately 60 countries. It began trading with Korea about six years ago by importing inflatable watercraft for use in river running applications. About a year later, NRS began exporting to Korea as kayaking and whitewater rafting started to gain in popularity. Today, NRS’ exports include life jackets and helmets for military use and search and rescue applications.

GrowthAs a two-way trader with Korea, NRS benefits from reduced tariffs and simplified trading for both its exports and imports. Since the U.S.-Korea Free Trade Agreement (KORUS FTA) was enacted, NRS has already secured new business with a retail partner for a multitude of products including life jackets, dry suits and spray skirts.

Trading AdviceAccording to NRS, the key to successful business is knowing where the market for your product exists. A company looking to export to Korea must research the market and find its niche. Once a company finds the correct market segment, it can move forward aggressively and proactively seek new clients.

Moscow, Idaho

Northwest River Supplies

40

“We enjoy trading with Korea. The expectations for quality are high, the people are friendly and professional, and communication is extraordinarily clear. Korean companies set a brilliant example on how international trade should be handled.”Marco Fortini, International Sales Specialist Optimum Spring Solutions, Inc.

ProfileOptimum Spring Solutions, Inc. manufactures high quality custom springs used in industries including military, aerospace, medical equipment and many others. The company concentrates on high- temperature and specialty alloys like Inconel X750, 718, Monel, Elgiloy and other materials by request.

ExportsIn 2008, Optimum Spring Solutions was contacted by Hy-Lok, a Korean instrument valve and fit-ting company. Hy-Lok became the company’s first customer in Korea. Since then, Optimum Spring Solutions has added another Korean customer and more than doubled its exports to the country. The U.S.-Korea Free Trade Agreement (KORUS FTA) has helped to strengthen its business relationships with these customers.

GrowthFor Optimum Spring Solutions, Korea is an important market that helps bring stability to its business. The company, which is now exporting to several countries including Australia, Argentina, Brazil, Canada, China, Colombia, Israel, New Zealand, South Africa and Turkey, has plans to travel to Korea and expand its business there.

Trading AdviceAccording to Optimum Spring Solutions, it is extremely important to maintain consistent communi-cations with customers in Korea. Whether it is sharing a project’s status or a major update, Korean customers appreciate clear and regular communication.

Ponte Vedra, Florida

Optimum Spring Solutions, Inc.

41

“Korea boasts high-quality science and engineering and a strong workforce. The people are pro-Western and keen to adapt and play by standards that are accepted globally. It is a very fast-paced, yet friendly, place to do business.”B. Chris Kim, Managing Director Korea-Seoul Life Science Fund Oxford Bioscience Partners

ProfileOxford Bioscience Partners is a mid-size, multi-stage venture capital firm. It provides equity financing and management support to early-to-late stage life sciences companies. Since its founding in 1992, Oxford has invested in almost 150 companies in the life science, energy and healthcare sectors.

Business in KoreaIn early 2011, Oxford formed the Korea-Seoul Life Science Fund (KSLSF), a cross-Pacific venture capital fund dedicated to investing in emerging companies in Korea and in the United States. Since its creation, KSLSF has invested in six companies with a presence in Korea, ranging from a hearing restoration device manufacturer to a developer of antibody drugs for cancer. Within the next two years, Oxford expects the fund to support investments in as many as 10 to 13 companies in Korea and the United States.

GrowthThe implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA) created new opportunities to invest in the life science industry in Korea. The Korean government also recently labeled life sciences a “New Growth Engine Industry” for the country, leading to increased enthusiasm, funding and business opportunities. In addition, the KORUS FTA allows Oxford to more easily help Korean companies enter the U.S. market and U.S. companies find partners in Korea, which is an important value-added aspect of KSLSF.

Importance of the Korean MarketAccording to Oxford, Korea is a strategic location for life science companies. As the healthcare industry continues to globalize, the Asian market will keep expanding. An emerging market strategy is now a top priority within the life science industry globally. Korea holds significant potential for the industry, partly due to strong government support and an innovative and science-driven society.

Boston, Massachusetts

Oxford Bioscience Partners

42

Boise, Idaho

ProfileFounded in 2004, PakSense manufactures intelligent packing labels that monitor perishable goods during distribution and storage. PakSense labels, which are about the size of a sugar packet, monitor and store data on the condition and temperature of packaged goods. They can even issue a warning if the temperature of a package gets too hot or cold. Today, the labels are used to monitor seafood, meat, juice, chemicals, pharmaceuticals and other products.

ExportsMore than 75 different countries use PakSense labels. The company began exporting labels to Korea in 2009, specifically to monitor Korea’s indigenous King Oyster mushrooms during the distribution process. Today, with more U.S. beef producers exporting to Korea under the U.S.-Korea Free Trade Agreement (KORUS FTA), PakSense labels are also used to monitor both frozen and fresh beef products being shipped to Korea.

GrowthThe KORUS FTA allows PakSense to grow its business on multiple fronts. First, tariff reductions make it cheaper for Korean customers to purchase PakSense labels and protect their perishables. Second, as the KORUS FTA expands trade volume between the United States and Korea, there are more potential customers who can use PakSense’s labels. Since the KORUS FTA’s implementation, PakSense has already noticed an uptick in trade volume.

Importance of the Korean MarketKorea is known for producing high-end agricultural products that need to be carefully monitored as they are shipped all over the world. As Korea continues to engage in the international exchange of perishable goods, PakSense can expand its business as well. With the KORUS FTA now in place, Korea has become an especially important international market for PakSense.

Trading AdviceAccording to PakSense, it is important to always show respect and interest in the local customs and culture. When introduced to new cuisine, for example, keep an open mind and a willingness to move outside your comfort zone. It is not important that you find everything delicious, but it is important that you are willing to try.

PakSense

43

“At Pelican Products, we have always considered Korea a growth market and have increased our business there consistently for several years. Now, with the implementation of the KORUS FTA, we can be more competitive and grow even more quickly. I am truly excited for the possibilities for us in Korea.”Scott Ermeti, Vice President of International Business Pelican Products, Inc.

ProfilePelican Products, Inc. manufactures American-made cases and portable lighting equipment designed for maximum durability and performance in hazardous environments. Its products are used by industries that include aerospace, emergency response, military, and oil and gas.

ExportsPelican Products has exported to Korea for more than 15 years. Business with Korea has grown by an average of 15 to 20 percent per year. In 2011, Pelican Products opened an office in Seoul.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) eliminates an 8 percent tariff and streamlines the customs clearance process for Pelican Products’ exports. By allowing the company to lower its prices and provide goods to its customers more quickly, the agreement gives the company a compet-itive advantage in the Korean market. Already, the tariff elimination has helped Pelican Products become a front-runner for a new project large enough to equal half of its total Korean business in 2011.

Torrance, California

Pelican Products, Inc.

44

“In Korea and many other international markets, doing business is more than just taking an order and fulfilling it; it is about relationship building. Over the past few years, we have been able to combine SOM’s market expertise and our product development knowledge and have developed a sweet, successful partnership.”Linda Kanner, Vice President Phillips Syrup LLC

ProfilePhillips Syrup LLC, established in 1921, develops and manufactures a full line of gourmet sauces, syrups and toppings for the food service, restaurant, ice cream and coffee markets. Because of the seasonal nature of ice cream, in 2004, Phillips Syrup expanded into manufacturing gourmet sauces for coffee drinks that it sells to both domestic and international distributors. The company’s products are sold under the Phillips Syrup label, as well as under private labels.

ExportsPhillips Syrup exports to markets around the world, including Korea. The company has been export-ing gourmet sauces and syrups under a private label since 2006. Two years ago, Phillips Syrup partnered with SOM International, a domestic and international food ingredient supplier, and successfully launched the Phillips Syrup brand in the Korean market. Currently, SOM International distributes the Phillips Syrup brand of gourmet sauces and pancake syrup.

GrowthSince entering the market, Phillips Syrup’s business in Korea has expanded from pancake syrup into gourmet sauces used in coffees and desserts, including chocolate and caramel, for restaurants and coffee shops. Phillips Syrup is currently looking at opportunities, including participating in trade missions to Korea, to continue to grow its business there.

Trading AdviceAccording to Phillips Syrup, a willingness to customize products to local preferences is part of being successful in international markets. Phillips Syrup frequently customizes its products, including flavors and label designs, to better suit local tastes.

Westlake, Ohio

Phillips Syrup LLC

45

“The elimination of tariffs makes our products more affordable in Korea. It gives our Korean partners more opportunities to reinvest back into their businesses and gain share within their market. In addition, the KORUS FTA has improved the enforcement of intellectual property rights and will protect our company as we export products to Korea.”John Schoch, President Profile Products LLC

ProfileEstablished 25 years ago, Profile Products LLC is a leading manufacturer of organic and inorganic soil products. The company, which has 200 employees, creates erosion, sediment control, turf establishment and soil amendment products for a variety of industries including agriculture, construction, mining, energy, golf and sports fields.

ExportsProfile Products considers international business critical to its growth. The company currently exports to between 80 and 90 countries on six continents. It started trading with Korea more than 10 years ago, supporting the planning, construction and maintenance of golf courses. Over the past five years, Profile Products’ business in Korea has grown to include infrastructure projects like highway construction and riverbank work.

GrowthBefore the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), Profile Products faced tariffs ranging from 6 to 14 percent. The elimination of these tariffs has better positioned the company to compete in Korea. Today, it is encouraging its Korean partners to more aggressively pursue aspects of the business that may not have been possible before the KORUS FTA.

Entering the Korean MarketProfile Products originally entered the Korean market to support the country’s rapidly growing interest in golf and expansion in the golf industry. Although the construction of golf courses has begun to slow in Korea, it remains a major market for Profile Products.

Trading AdviceAccording to Profile Products, it is important to remember that you cannot do business with strangers. When entering any international market, companies should meet with business partners face-to-face whenever possible. Profile Products believes that the best way to do business interna-tionally is by making a commitment to invest the time, people and resources needed to support local markets and partners.

Buffalo Grove, Illinois

Profile Products LLC

46

“The elimination of the tariffs on our products under the KORUS FTA helps us be more competitive in the Korean market. For small companies like ours, free trade agreements level the play-ing field and allow us to compete more fairly in the global marketplace. We are very excited for the opportunity to build new relationships with Korean businesses.”Jason Speer, Vice President and General Manager Quality Float Works, Inc.

ProfileEstablished in 1915, Quality Float Works, Inc. manufactures float balls and assemblies used to level liquid controls. The third and fourth generation family-owned company, which makes all of its products in the United States, has become the premier manufacturer of floats and assemblies used in gas, oil, plumbing and agricultural applications worldwide. Quality Float Works’ customers, including DuPont, Ford, General Dynamics, Grainger, the U.S. Department of the Navy and Walt Disney, use the floats as vital components in their equipment.

TradeQuality Float Works, which currently has 26 employees, began exporting in the 1950s and currently trades with almost 40 countries. In 2003, the company’s Float Valve division initiated its presence in the European and growing Asian markets. Over the past decade, Quality Float Works’ international sales have grown from 3 to 30 percent.

GrowthSince the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), representatives from Quality Float Works are planning visits to Korea to meet with potential distributors and customers. The company is focusing its efforts on the marine and agriculture industries. The elimination of tariffs of up to 8 percent on its products will help the company be more competitive in the Korean market.

Positioning in the Korea MarketWhen marketing products in Korea, Quality Float Works focuses on their high quality, reliability and customizing capabilities to meet the needs of its customers. These aspects help differentiate the company from other international competitors.

Chicago, Illinois

Quality Float Works, Inc.

47

ProfileReynolds Polymer Technology, Inc. is an acrylic manufacturer that makes viewing windows for large aquariums, like those you might see at SeaWorld, Walt Disney World or major resorts. Operating for more than 25 years, Reynolds has provided materials for aquariums around the world. The company has pioneered advancements including underwater dome rooms, underwater restaurants, windows that curve in two directions at once and gigantic freestanding aquariums that have elevators travel through them.

ExportsReynolds has been exporting materials to Korea for more than seven years, with the volume picking up substantially over the past three years. Reynolds is currently preparing to sign two new contracts and is bidding on another. Most recently, Reynolds provided the materials for an aquarium, under-water dome room and viewing windows for an exhibit at the 2012 International Expo being held in Yeosu, Korea.

GrowthBy eliminating tariffs, the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA)allows Reynolds to offer more competitive pricing and sell its products to a broader range of Korean customers. It also opens the door for Reynolds to pursue smaller projects that may have not been possible in the past due to high tariffs. For example, the KORUS FTA makes it possible for Reynolds to sell pool windows, scientific and medical applications using acrylic, and decorative architectural sheets to Korea, items that are typically purchased in smaller quantities.

Capitalizing on the KORUS FTAIn the immediate future, Reynolds expects to visit both potential and existing customers in Korea more frequently. In the long term, the company anticipates that its Korean representatives will pursue more jobs and contracts as they can pass along more attractive pricing to their customers.

Trading AdviceAccording to Reynolds, it is very important to build a personal relationship with any potential customers in Korea. It is much easier to do business once you have established a level of trust through social interaction, in-person meetings and dinners.

“One of our international business goals is increasing the number of projects we are working on or have completed in Asia. The KORUS FTA will make us more cost competitive, allow us to pursue a wider range of projects, and help to grow our business in a dynamic and important market.”Peter DiGrazia, President Reynolds Polymer Technology, Inc.

Grand Junction, Colorado

Reynolds Polymer Technology, Inc.

48

“We take great pride in being the first foreign firm to be permitted to practice law in Korea. It shows our dedication, affection and commitment to Korea and our Korean clients.”William Yongkyun Kim, Partner Ropes & Gray LLP

ProfileRopes & Gray LLP is one of the world’s leading international law firms. Founded in 1865, Ropes & Gray has more than 1,100 lawyers across 11 office locations worldwide. The firm’s major areas of practice include intellectual property, mergers and acquisitions, private equity and business litigation, among many others.

International BusinessRopes & Gray has clients from all over the world. The firm represents large Korean international brands such as Samsung, LG, Hyundai and Kia. It also works with smaller Korean companies doing business in the United States, as well as American companies doing business in Korea. Now, with the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA), Ropes & Gray is able to open an office in Korea and be closer to its Korean clients.

GrowthAfter decades of serving international clients, Ropes & Gray began expanding physically in 2007. Over the past five years, the law firm has opened offices in London, Hong Kong, Tokyo and Shanghai. In addition to its steadily growing Asian presence, Ropes & Gray became the first foreign law firm to be permitted by Korea’s Ministry of Justice to open an office in Seoul on July 15, 2012. The Seoul of-fice of Ropes & Gray is led by partners William Yongkyun Kim and David Chun.

Impact of the KORUS FTABy providing Ropes & Gray with the ability to practice law in Korea, the KORUS FTA allows the firm to expand its services in the Korean marketplace. Under the KORUS FTA, Ropes & Gray can begin collaborating with Korean law firms as early as 2014 and can practice law independently in Korea by 2017.

Opening an Office in KoreaAn office in Seoul erases the 12-hour time difference between Ropes & Gray and its Korean clients. The firm can be more effective, more accessible and provide face-to-face interaction on a regular basis. In addition to improved service for its clients, Ropes & Gray will also no longer have to strain its employees with constant travel to and from Korea.

Boston, Massachusetts

Ropes & Gray LLP

49

“Korea is an important market for SAS Automation. Korea leads the market in Asian robotic applications (second only to Japan), and robotic grippers are very much utilized there.”Trent Fisher, President, Owner SAS Automation

ProfileSAS Automation manufactures robotic end-of-arm tooling and automation technology. Established in 1996, the company supplies robotic grippers for industries including automotive, food, plastics and metal. With about 40 employees, the company has its headquarters in Xenia, Ohio, and branches in Germany and Hong Kong.

ExportsSAS Automation exports almost 30 percent of its products to 16 countries around the world. It is currently working to enter the Korean market by locating a partner there. To move forward, SAS Automation has begun reaching out to business groups, looking into traveling to Korea and identifying possible Korean trade shows to attend.

GrowthFor SAS Automation, Korea is a market with significant potential; Korea is one of the lead areas in Asia for robotic applications, based on the number of robots sold and installed there annually. As it enters the Korea market, SAS Automation expects to be more competitive with the elimination of tariffs under the U.S.-Korea Free Trade Agreement (KORUS FTA). The company also plans to establish Korea as a hub for moving into other Asian markets.

Entering the Korean MarketSAS Automation is looking to secure a partner in Korea to support the company as it pursues sales there. For a small company like SAS Automation, an in-country partner would allow it to have a presence in the market, while maximizing its resources.

Xenia, Ohio

SAS Automation

50

“Korea is an important market for us as we continue to grow our business. The sophistication of the market, combined with Koreans’ appreciation for high-quality and specialized products, create significant opportunities for us there.”Ramesh Sheth, President S.I. Tech, Inc.

ProfileS.I. Tech, Inc. established in 1984, was one of the first fiber optic manufacturing companies. Today, it manufactures a vast array of fiber optic communications equipment for interconnectivity applications. Its products are used by militaries, original equipment manufacturers, factories and other businesses.

TradeS.I. Tech ships its products to more than 40 countries worldwide. The company started exporting to Korea in 1995 when Samsung Heavy Industries approached it about creating fiber optic motor controls for cranes used to build and load ships. Many of its current customers in Korea, including EreTech Co., Vito Company and Joowon Industries, buy its products for use in cell phone electromag-netic interference, electromagnetic compatibility and radio frequency interference testing, as well as other control and instrumentation applications.

GrowthOver the past five years, S.I. Tech has seen significant growth of its business with Korea. The company is now looking for a distributor or agent in Korea to help it continue to expand. The U.S.-Korea Free Trade Agreement (KORUS FTA), which includes intellectual property protections, also helps to protect S.I. Tech’s products and makes Korea an increasingly attractive market.

Batavia, Illinois

S.I. Tech, Inc.

51

“If a small business was interested in expanding internationally, I would say first look at trading with Korea. Korean businesspeople are honest, transparent and overall, good partners. Korea is a safe place to do business, but one with significant opportunities. Just make sure that you like kimchi!”Steve Drury, Vice President Sharpe Mixers

ProfileSharpe Mixers, founded in 1953, is an industrial mixer manufacturer. The company, which currently has about 40 employees, makes liquid mixing handling equipment for a variety of industries, includ-ing pharmaceuticals, chemicals, mining and waste treatment.

ExportsSharpe Mixers currently exports to countries in North and South America, Europe, Asia and New Zealand. The company started exporting its mixers to Korea more than 20 years ago. Over the past few years, Sharpe Mixers has exported parts to Korea to maintain and repair its large industrial mix-ers already in use there.

GrowthSharpe Mixers is currently pursuing several projects for, and with, Korean companies. It is bidding on a multi-million dollar, in-country project for a Korean customer and working with several Korean engineering firms pursuing projects around the world. Members of the Sharpe Mixers’ team recently traveled to Korea to meet with these potential business partners.

Importance of Trading with KoreaAlthough the market for Korean in-country projects is small for Sharpe Mixers, Korean companies frequently export their services and technology to other countries. There is significant opportunity for Sharpe Mixers to partner with these companies and work with them to secure business around the world.

Trading AdviceWhen looking to start trading with Korea, Sharpe Mixers recommends first hiring an agent in the United States and setting up financing. There are many groups, like the Export Finance Assistance Center of Washington, that can be a resource for companies looking to trade internationally.

Seattle, Washington

Sharpe Mixers

52

“With the approval of the KORUS FTA, we see the potential for great long-term growth in Korea, as we continue to focus on providing a safe, wholesome and competitively priced product. For the U.S. agricultural industry, we expect the agreement to further strengthen the relationship between the United States and Korea.”Jason Webb, Export Sales — Korea Smithfield Foods International Group

ProfileSmithfield Foods is a global food company and the world’s largest producer and processor of pork. Through its wholly-owned operating companies and joint ventures, Smithfield Foods produces more than 50 brands of pork products and 200 gourmet foods, employing more than 52,400 individuals globally.

ExportsSmithfield Foods International Group (SFIG) is the international sales and marketing arm for the Smithfield Foods Pork Division, which encompasses Smithfield Packing, Farmland Foods and John Morrell/Armour Swift Eckrich. SFIG, currently exports to more than 40 countries and has been working with Korea for over 15 years. Smithfield Foods has the ability to meet all customer needs in the retail, foodservice and processing segments.

GrowthSmithfield Foods continues to focus on growing business within its key markets, such as Korea. With the U.S.-Korea Free Trade Agreement (KORUS FTA), expectations are for business opportunities to continue to develop and grow.

Traveling to KoreaRepresentatives from Smithfield Foods International routinely travel to Korea. These visits include attending trade shows and meeting with customers. Smithfield Foods also invites its Korean customers and business partners to visit company plants and production facilities.

Trading AdviceFor companies looking to trade with Korea, SFIG recommends visiting the country to learn more about the products, services and customer expectations.

Smithfield, Virginia

Smithfield Foods

53

“No matter what culture you are working with, cost is always a factor. By opening trade between the countries and lowering the costs of our products, the KORUS FTA will make our products more competitive and more attractive to Korean organizations.”Tom Spika, President, General Manager Spika Welding and Manufacturing

ProfileSpika Welding and Manufacturing designs and manufactures industry-leading aviation maintenance stands for military and commercial maintenance facilities. Spika work stands and maintenance equipment also serve the access and safety needs of the manufacturing, general aerospace, agriculture and railroad industries.

ExportsIn recent years, Spika has earned recognition in global markets, securing sales in Japan, Australia, Israel, Canada, Sweden and many others. Spika sees great potential and is currently pursuing sales in Korea because of its large military.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) makes Spika products more competitive in Korea and gives the company greater access to the government procurement market. To capitalize on this opportunity, the company plans to first introduce its products to purchasing entities within the Korean defense department and then establish an in-country distributor to pursue general commer-cial and industrial sales there. Initially, Spika plans to do between $500,000 and $1 million in sales with Korea, but expects that to grow to $5 million to $8 million annually within a few years.

Trading AdviceWhen starting to trade with another country like Korea, Spika recommends investing time learning about the other culture and what they value and expect in terms of both products and business interactions. Attitudes, business relationships and ways of communicating can vary greatly from country to country. Americans may need to learn more about the expectations, business etiquette and cultural norms of the country that they are interacting with to be successful.

Lewistown, Montana

Spika Welding and Manufacturing

54

ProfileAlthough it may be most commonly recognized by consumers for having invented the handheld calculator, Texas Instruments Incorporated (TI) is the third largest manufacturer of semiconductors in the world. Founded in 1930 as a geophysical exploration company, TI produced the first commercial silicon transistor in 1954 and the first integrated circuit in 1958. Today, TI’s semiconductor technologies are used in everything from portable ultrasound equipment to e-books.

ExportsTI was the first semiconductor company to begin exporting internationally and now exports about 90 percent of its products. TI started exporting semiconductors to Korea in the 1980s, establishing TI Korea in 1988. The company has since expanded its Korean operations to include an Analog IC Design Center and a Micro Controller Education Center.

GrowthThere is robust competition for technology, electronics and telecommunications in Korea. This competition, spurred by the free flow of products resulting from the U.S.-Korea Free Trade Agreement (KORUS FTA), increases the demand for semiconductors as companies work to provide better products and services. The KORUS FTA also reduces tariffs for these companies, allowing them to do more business. These factors benefit TI’s business and help it continue to grow its presence in Korea.

TI’s Products in KoreaTI connects with its customers through its sales and design teams, but also contributes to university programs so that new engineers can understand its technology. To reach this audience, TI has established labs in leading engineering schools, including the TIMC (Texas Instruments Micro Controller) Official Education Center at Hanlim University in Chuncheon, Korea. TI collaborates with universities’ engineering programs to help develop advanced curricula and build familiarity of TI’s products among students.

Insight into the Korean MarketOver the past 20 years, Asia has become home to many of the world’s largest consumer electronics manufacturers. Korea, like many countries in the region, has grown rapidly over the past several decades and now boasts a strong middle class, an innovative and competitive population, and expansive telecommunication systems.

“Free trade does more than just bring down the consumer cost on products; it promotes the evolution of start-up companies and new technologies driven by an enthusiastic and technologically savvy Korean population. In addition, Korean and American business cultures fit well together as they both value directness and innovation. These factors make Korea an ideal place for TI to do business.”Cynthia Johnson, Director of Government Affairs Texas Instruments Incorporated

Dallas, Texas

Texas Instruments Incorporated

55

“I expect to see the KORUS FTA have a direct and positive impact on trade between Korea and the United States. Korean companies are more willing and eager to work with American companies who are turning their attention to opportunities in Korea as well.”Kevin Kraft, President Tradewinds Global

ProfileTradewinds Global helps American companies enter Asian markets and grow their business overseas. The four-employee company, which was founded in 2005, serves manufacturers in the pet, children, food and beverage, and health and beauty industries. Tradewinds Global offers distribution, nego-tiation, international marketing, account management, translation and other services necessary for American companies to succeed in international markets.

ExportsTradewinds Global has been helping clients export their products to Korea since 2007. The company currently works with six clients in Korea, including children’s products, pet products, and health and beauty companies that sell American products there. Tradewinds Global has seen its business in Korea grow over the past several years as the country’s economy has remained strong despite a global downward trend.

GrowthUnder the U.S.-Korea Free Trade Agreement (KORUS FTA), Tradewinds Global has seen more American companies put Korea on their radar, search for ways to enter the robust market, take advantage of reduced tariffs and grow their business in Asia. The KORUS FTA has also increased many Korean companies’ interest in pursuing business relationships with American manufacturers. Overall, Tradewinds Global expects to see its business in Korea expand by as much as 15 to 20 percent over the next six months.

Lessons LearnedTradewinds Global has found that companies are most successful expanding internationally when they customize their efforts to target each market individually. For example, in some Asian countries, Tradewinds Global has success marketing its dog food products as “grain-free;” in Korea, however, consumers are more interested in products labeled as organic or protein-rich.

Trading AdviceWith trust being so important in successful business relationships, Tradewinds Global recommends that companies familiarize themselves with the Korean language. The ability to communicate directly with business partners gives companies a distinct advantage. According to Tradewinds Global, even being able to read or decipher a Korean website can go a long way.

Honolulu, Hawaii

Tradewinds Global

56

Ewing, New Jersey

“The Korean people are smart, hard working and embrace the capitalist culture. Koreans and Americans get along very well together, and we have found Koreans to be delightful to do business with.”Janice Mahon Vice President of Technology Commercialization Universal Display Corporation

ProfileFounded in 1994, Universal Display Corporation is a leading developer of organic light-emitting diode (OLED) technology and materials. OLED materials produced by Universal Display are used in the making of OLED displays, similar to LCDs, but provide sharper images, use less electricity and are more versatile (e.g., OLEDs can be made on flexible screens). Universal Display’s customers use its OLED materials to create digital displays for use in a variety of devices such as cell phones and other small format display products for consumer, automotive and medical applications. Manufacturers are also using Universal Display’s OLED materials in the development of televisions and other large-for-mat applications.

ExportsWith many electronics-producing companies in the region, Universal Display conducts much of its international business in Asia. Universal Display started working with companies in Korea in 2000. In 2001, the company also began exporting its OLED materials to Korea; in 2005, it entered into com-mercial agreements. Universal Display’s current Korean business partners include large technology companies like LG and Samsung.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) benefits Universal Display’s already strong business in Korea. In addition to possibly eliminating tariffs on Universal Display’s materials, the KORUS FTA may also provide additional intellectual property protections that help ensure all of the company’s technologies remain proprietary.

Importance of the Korean MarketKorea is one of Universal Display’s most important international markets. Universal Display’s OLED materials and technology are currently used in Samsung’s increasingly popular Galaxy S series of smart phones. As consumer demand grows for devices with technologically advanced display systems from companies like Samsung and LG, Universal Display’s business in Korea is expected to grow as well.

Investment in KoreaIn 2010, Universal Display opened an office in Seoul. By having an office in Korea, Universal Display can more effectively respond to its business partners’ needs. Currently employing three people, the Seoul office helps with customer requests and provides technical support.

Universal Display Corporation

57

“When working with international markets, it is all about human relationships. To be true partners to our clients, we take the time to understand the cultural differences between the United States and Korea and focus our communications to ensure that both parties are aligned to our shared purpose of successful trips.”Lex Den Herder, Vice President of Government and Industry Affairs, Universal Weather and Aviation, Inc.

ProfileUniversal Weather and Aviation, Inc. (Universal) has more than 52 years of experience helping its clients, the operators of business aircraft, navigate a complex world and achieve their shared purpose: successful trips. The company coordinates all aspects of business aviation trip management, including flight planning, clearances, weather, jet fuel and aircraft ground support. Universal is an international company with more than 40 locations in over 20 countries, including multiple offices in the Asia-Pacific region.

TradeSince the late 1970s, Universal has handled logistics for companies around the world traveling to Korea. Since 1996, it has also coordinated global business aviation travel for major Korean corporations in the electronics, telecommunications, automobile and chemical industries. Over the past five years, the company has focused additional resources on growing its business in Asia in response to increased demand for its products and services.

GrowthIn fiscal year 2012, Universal coordinated 485 flights into and out of Korea, a 40 percent increase from fiscal year 2008. Now, as the Korean market continues to grow, there are significant opportunities for Universal to continue to increase its business. The U.S.-Korea Free Trade Agreement (KORUS FTA) is expected to further increase business and trade between the United States and Korea. This can mean an increase in corporate travel and a greater need for Universal’s services, both from Korean companies utilizing business aircraft for travel and from international companies traveling to Korea.

Entering the Korean MarketUniversal entered the Korean market when it saw a need for its services. The company began by facilitating travel for current clients into Korea, which allowed it to start establishing relationships and getting to know the market. Over time, Korean companies started increasingly embracing business aviation. Universal’s business in Korea has evolved to support U.S. and Korean companies traveling into and out of the country.

Houston, Texas

Universal Weather and Aviation, Inc.

58

“Being in the Korean market shows that we have a quality product and can meet its safety and quality standards. For Volpi, Korea is an important step in expanding our premium Italian meat product offerings throughout the world and gaining global recognition of the brand.”Daniela Depke, International Sales Volpi Foods, Inc.

ProfileVolpi Foods, Inc., a family-owned, global food corporation, manufactures handcrafted, authentic Italian meat products. Volpi was established in 1902 by an Italian immigrant who recreated the cured meats of his home country with fresh Midwestern pork and beef and the finest spices and seasonings. Currently run by the third generation of salumieri, Volpi combines Italian traditions with American innovation to produce premium Italian meats.

ExportsVolpi began exporting to Korea almost 10 years ago, after being approached by a Korean distributor during a trade show. The company now exports a wide variety of its products to Korea, including pre-sliced meats and prosciutto. Over the past few years, Volpi’s business to Korea has grown about 15 percent.

GrowthKorea is an important market for Volpi, helping it to expand its brand and increase awareness of its products around the world. The U.S.-Korea Free Trade Agreement (KORUS FTA) will help Volpi strengthen its presence in Korea and maintain its prices against fluctuations in the meat market.

Trading AdviceVolpi recommends that companies looking to export to Korea choose partners and distributors wisely. The best distributors will understand the product and the message that the company wants conveyed to retailers.

Product MarketingIn Korea, products are often smaller than in the American market. To adapt to the Korean market, Volpi customized many of its products to be smaller, which helps the company with pricing and freight costs. Volpi also modifies certain ingredients in the products that it exports to Korea. For example, Volpi’s research has shown that many Koreans do not like the taste of basil, so that ingredient is replaced with a more familiar local herb.

St. Louis, Missouri

Volpi Foods, Inc.

59

Profile VP Records is a family-owned music label. The company, which started in the 1950s as a record store in Kingston, Jamaica, has evolved into the largest independent reggae music label in the world. Today, VP Records works with more than 30 artists. In recent years, the label has ventured into publishing and merchandise, familiarizing the world with Jamaica’s culture as well as its music.

ExportsOver the past 15 years, VP Records has expanded internationally, opening marketing offices in the United Kingdom and Japan. Although reggae originates from a land halfway around the world, Koreans are no strangers to the rhythmic music, which is popular in many Korean vacation destinations. VP Records hopes to continue its expansion into Korea, capitalizing on its success in other international markets.

GrowthIn September 2012, representatives from VP Records traveled to Korea as part of an international trade mission to identify promising markets, Korean reggae bands and potential record store partners. By supporting the exchange of both goods and ideas between Korea and the United States, the U.S.-Korea Free Trade Agreement (KORUS FTA) makes Korea one of VP Records’ most important new markets.

Importance of the Korean MarketSince the rise of the Internet, the music industry has been in transition, adapting and searching for new avenues of growth. As a result of its open market and embrace of technology, Korea is at the forefront of the digital music era. VP Records views Korea as an essential next step in the globaliza-tion of its business.

Lessons LearnedVP Records believes that first spending time in Korea will reap benefits in the long term. Music differs greatly around the world, and even the same genre of music will evolve from region to region to reflect traditional cultural influences. VP Records learned from its expansion into the United Kingdom and Japan that seeking out and understanding Korea’s own take on reggae music will be essential to its success in the region.

Queens, New York

VP Records

60

“As one of the largest and most respected shipbuilding nations, Korea has tremendous influence on what other fleet owners around the world do. Having our products and services selected by the Korean shipbuilding industry is critical to our success internationally.”David K. Edwards, President W R Systems, Ltd.

ProfileW R Systems, Ltd. (WRSystems), founded in 1983, is a systems engineering product development and support services firm. The company, which currently has 335 employees, supports both government and commercial contracts through offices in Fairfax and Norfolk, Virginia.

TradeIn the past, WRSystems has worked with the Korean Navy to supply products and conduct training sessions through a U.S. government program. Now, the company is focused on growing its commercial maritime business in Korea and becoming a supplier to the shipbuilding industry. As one of the top shipbuilding countries in the world, Korea has the potential to be a major market for the company.

GrowthWRSystems is selling an emissions monitoring system to Korean shipbuilding companies through an in-country agent. The company currently has 30 to 40 active proposals in the Korean market and has been named a qualified bidder for Korean shipbuilders including Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and others. WRSystems also recently attended Kormarine: International Shipbuilding & Marine Equipment Exhibition in Korea.

Trading AdviceWhen starting to trade with Korea, WRSystems recommends finding a respected in-country agent familiar with American business culture to support the company. An agent can help a company do business in the Korean market, including staying informed about marketing trends and assisting with translations.

Traveling to KoreaRepresentatives from WRSystems regularly travel to Korea to meet with the company’s agent and potential business partners. In Korea, relationships are very important, so WRSystems wants to consistently show its willingness to get to know its contacts there and gain an appreciation for how they want to do business.

Fairfax, Virginia

W R Systems, Ltd.

61

“Over the years, Welch’s has had consistent positive experiences doing business in Korea. Koreans work hard and have an excellent drive to succeed. They want to have a fair relationship with each other and with their overseas business partners.”Bill Hewins, Vice President, International Welch Foods Inc.

ProfileIn 1869, Thomas Bramwell Welch created the first-ever batch of Welch’s grape juice as a non- alcoholic wine. Now, more than 140 years later, Welch’s is one of the most recognizable juice brands in the world. It has also expanded to produce jams, jellies, fruit cocktails, fruit snacks and carbonated beverages.

ExportsWelch’s began exporting to Korea in 1994. Since then, the company’s business has soared in Korea, growing by more than 500 percent between 2002 and 2010. Prior to the U.S.-Korea Free Trade Agreement (KORUS FTA), the tariff on grape concentrate was 45 percent, higher than any other country where Welch’s does business. The high tariff increased the cost for its business partner, Nong Shim, which raised the price for consumers.

GrowthWith the tariff eliminated immediately by the KORUS FTA, Korean consumers can now enjoy Welch’s products at a lower price. With this benefit, Welch’s expects to continue to grow its business and be more competitive in Korea.

Working with a Korean PartnerNong Shim, one of Korea’s largest food companies and Welch’s partner since 2002, purchases grape concentrate from Welch’s and bottles and distributes its grape juice in Korea. The two companies have a longstanding relationship and travel frequently to meet and discuss future plans and trade insights.

Importance of Trade with KoreaThe Korean market is considered exciting territory for Welch’s. It views Korea as one of the world’s most competitive and fastest growing marketplaces. Korea has a strong middle class, educated consumers and an appreciation for American products that make it a particularly attractive market.

Concord, Massachusetts

Welch Foods Inc.

62

“The implementation of the KORUS FTA has created a lot of buzz around California wines, and it is a great opportunity for us to increase our popularity among Korean wine drinkers. We consider it a major victory for Wente Family Estates, and other California wineries, looking to increase their market share in Korea.”Michael Parr, Vice President International Sales & Marketing Wente Family Estates

ProfileWente Family Estates, founded in 1883, is the country’s oldest continually operated, family-owned winery. The winery draws from approximately 3,000 acres of estate grown, sustainably farmed vineyards to create its portfolio of wines. Today, clones taken from the original Wente chardonnay grape vines are used by many of the wineries throughout California.

ExportsWente Vineyards wines are available in more than 70 countries around the world and have earned a strong brand presence throughout Asia. Wente Vineyards wines have been exported to Korea for more than 15 years, and today Korea is one of the winery’s fastest growing markets. At the same time, American wines also face tough international competition in Korea, where wines from France, Chile, Italy and Japan have captured the majority of the market.

GrowthThe U.S.-Korea Free Trade Agreement (KORUS FTA) increases the awareness and availability of Wente Vineyards and other California wines for Korean consumers, helping to make them more competitive with wines that already benefit from free trade agreements with Korea. The benefits are already being seen as Wente’s Beyer Ranch Zinfandel was recently recognized in an international taste competition as the top wine to pair with Korean barbeque.

Livermore, California

Wente Family Estates

63

“In working with a Korean partner, my biggest adventure has been combining the best of our respective cultures. We each have our own way of doing things, but we have both worked to understand one another’s strengths and integrate these into the companies from both sides of the ocean.”Tony Kircher, President Winix America

ProfileWinix America and Winix Inc. are privately-owned partner companies, headquartered in Illinois and Korea, respectively. The companies manufacture air cleaners, dehumidifiers, water purifiers and dispensers, and components for cooling and refrigeration. In addition to selling products under the Winix brand, the companies also supply products to other organizations for sale under private labels.

HistoryWinix Inc. was founded 38 years ago as a supplier for Samsung, making components for its refrigera-tors and air conditioners. About 10 years ago, the company expanded into manufacturing and selling products under its own brand name. In 2004, the company established Winix America to serve as a sales and marketing group for North and Latin America.

TradeToday, Winix Inc. has six factories in Asia that handle all product manufacturing. The company ships products to Winix America, which is responsible for sales, marketing and distribution in the United States. Under the U.S.-Korea Free Trade Agreement (KORUS FTA), the companies are benefiting from a tariff reduction on importing products into the United States.

GrowthToday, Winix America sells products to major international brands, including Kenmore, Electrolux and Fellowes. It also sells Winix brand name products to retailers such as Costco, Bed Bath & Beyond, Lowes, Target and Amazon. On average, Winix America has seen about 70 percent growth per year.

Trading AdviceAccording to Winix America, when working with a partner in Korea, relationships are more important than contracts. By entering a business deal from a position of trust and making sure to look after your partner, a Korean partner will return the courtesy and look after you.

Differences Between the MarketsThe Korean market is more heavily focused on quality, according to Winix America, while the U.S. market is often more price sensitive. While this is not universal, Korean companies and consumers generally appreciate higher-quality items, even when they come with higher costs.

East Dundee, Illinois

Winix America and Winix Inc.

64

“We see tremendous opportunity in Korea, and we like the people we do business with there. They are very honest and stand behind their work.”Matthew Piotrowski, Research & Development Manager Worldwide Protective Products

ProfileWorldwide Protective Products, which was formed in 2004, is a partnership of Manzella Knitting and Worldwide Glove and Supply. With 200 employees, Worldwide Protective manufactures protective gloves for industrial, manufacturing, food processing, military and law enforcement uses.

ImportsSince the mid-2000s, Worldwide Protective has partnered with Korean suppliers for production of its flat dip gloves, gloves that have polymer coatings such as rubber on the palms. Worldwide Protective sends knit gloves to its Korean suppliers, who dip the gloves in polymer before sending the finished product back to Worldwide Protective for sale.

GrowthWorldwide Protective and its Korean suppliers see significant opportunities under the U.S.-Korea Free Trade Agreement (KORUS FTA). The free trade agreement eliminates tariffs and expedites the customs process, allowing Worldwide Protective to conduct its business in Korea more efficiently.

Doing Business in KoreaWorldwide Protective has been impressed by the English-speaking abilities of its Korean business partners. The ability to communicate clearly, and often without the need for interpreters, gives Worldwide Protective more confidence as it conducts international business.

Trading AdviceWorldwide Protective recommends that companies considering doing business in Korea visit the country and meet with prospective partners. In addition to providing an opportunity to meet and get to know partners in person, the company says that visiting Korea is an enlightening experience.

Orchard Park, New York

Worldwide Protective Products

66

CALIFORNIABlue Diamond Growers . . . . . . . . . . . . . . . . . . . . .10 Pelican Products, Inc. . . . . . . . . . . . . . . . . . . . . . 43Wente Family Estates . . . . . . . . . . . . . . . . . . . . . 62

COLORADOFentress Architects . . . . . . . . . . . . . . . . . . . . . . . 24Reynolds Polymer Technology, Inc. . . . . . . . . . . 47

FLORIDAAssociated Aircraft Manufacturing & Sales . . . . . . .7Correct Craft, Inc. . . . . . . . . . . . . . . . . . . . . . . . . 18DiSTI Corporation . . . . . . . . . . . . . . . . . . . . . . . . 22Optimum Spring Solutions, Inc. . . . . . . . . . . . . . 40

GEORGIAKia Motors Manufacturing Georgia . . . . . . . . . . . 32Morgan Thermal Ceramics . . . . . . . . . . . . . . . . . 38

HAWAIIHawaii Exports International, Inc. . . . . . . . . . . . . 28MauiGrown Coffee Distributors, LLC . . . . . . . . . 36Tradewinds Global . . . . . . . . . . . . . . . . . . . . . . . 55

IDAHOGlanbia Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . 26Northwest River Supplies . . . . . . . . . . . . . . . . . . 39PakSense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

ILLINOISProfile Products LLC . . . . . . . . . . . . . . . . . . . . . . 45Quality Float Works, Inc. . . . . . . . . . . . . . . . . . . . 46S.I. Tech, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50Winix America and Winix Inc. . . . . . . . . . . . . . . . 63

IOWACJ BIO America, Inc.. . . . . . . . . . . . . . . . . . . . . . 15Dexter Laundry, Inc. . . . . . . . . . . . . . . . . . . . . . . 21Kent Nutrition Group . . . . . . . . . . . . . . . . . . . . . . 31

KENTUCKYBrown-Forman Corporation . . . . . . . . . . . . . . . . 14Drexel Metals, Inc. . . . . . . . . . . . . . . . . . . . . . . . 23Kiswel Co. Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

LOUISIANAAlbemarle Corporation . . . . . . . . . . . . . . . . . . . . . .1Baker Sales, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 9

MASSACHUSETTSOxford Bioscience Partners . . . . . . . . . . . . . . . . 41Ropes & Gray LLP . . . . . . . . . . . . . . . . . . . . . . . 48Welch Foods Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 61

MICHIGANMetaldyne, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . 37

MISSOURIBoeing Defense, Space & Security . . . . . . . . . . . .11FURminator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Volpi Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 58

MONTANAMark Rite Lines Equipment Company, Inc. . . . . 34Spika Welding and Manufacturing . . . . . . . . . . . 53

NEW HAMPSHIREGT Advanced Technologies . . . . . . . . . . . . . . . . 27

NEW JERSEYUniversal Display Corporation . . . . . . . . . . . . . . 56

NEW YORKCleary Gottlieb Steen & Hamilton LLP . . . . . . . . 17VP Records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59Worldwide Protective Products . . . . . . . . . . . . . . 64

OHIOPhillips Syrup LLC . . . . . . . . . . . . . . . . . . . . . . . . 44SAS Automation . . . . . . . . . . . . . . . . . . . . . . . . . 49

OREGONBrammo, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Cutters Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

PENNSYLVANIAAnalytical Graphics, Inc. . . . . . . . . . . . . . . . . . . . . 4Crown Hardwood Co., Inc. . . . . . . . . . . . . . . . . . 19Justi Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 30MATCOR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

RHODE ISLANDAstro-Med, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Hope Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

TEXASTexas Instruments Incorporated . . . . . . . . . . . . . 54Universal Weather and Aviation, Inc. . . . . . . . . . 57

VIRGINIAAmerican Hardwood Industries . . . . . . . . . . . . . . . .3Bristol Compressors International, Inc. . . . . . . . . 13Communications-Applied Technology . . . . . . . . 16Smithfield Foods . . . . . . . . . . . . . . . . . . . . . . . . . 52W R Systems, Ltd. . . . . . . . . . . . . . . . . . . . . . . . 60

WASHINGTONAllied Potato Northwest . . . . . . . . . . . . . . . . . . . . . .2Anderson Hay & Grain Co., Inc. . . . . . . . . . . . . . . .5Andrew Will Winery . . . . . . . . . . . . . . . . . . . . . . . . .6Sharpe Mixers . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Case Studies by State

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Case Studies by Industry

FOOD/AGRICULTUREAllied Potato Northwest . . . . . . . . . . . . . . . . . . . . . .2Anderson Hay & Grain Co., Inc. . . . . . . . . . . . . . . .5Andrew Will Winery . . . . . . . . . . . . . . . . . . . . . . . . .6Blue Diamond Growers . . . . . . . . . . . . . . . . . . . . .10 Brown-Forman Corporation . . . . . . . . . . . . . . . . 14Glanbia Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . 26Kent Nutrition Group . . . . . . . . . . . . . . . . . . . . . . 31MauiGrown Coffee Distributors, LLC . . . . . . . . . 36Phillips Syrup LLC . . . . . . . . . . . . . . . . . . . . . . . . 44Smithfield Foods . . . . . . . . . . . . . . . . . . . . . . . . . 52Volpi Foods, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 58Welch Foods Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 61Wente Family Estates . . . . . . . . . . . . . . . . . . . . . 62

INVESTMENTCJ BIO America, Inc.. . . . . . . . . . . . . . . . . . . . . . 15Kia Motors Manufacturing Georgia . . . . . . . . . . . 32Kiswel Co. Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Oxford Bioscience Partners . . . . . . . . . . . . . . . . 41

MANUFACTURINGAlbemarle Corporation . . . . . . . . . . . . . . . . . . . . . .1American Hardwood Industries . . . . . . . . . . . . . . . .3Associated Aircraft Manufacturing & Sales . . . . . . .7Astro-Med, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Baker Sales, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . .9Boeing Defense, Space & Security . . . . . . . . . . . .11Brammo, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Bristol Compressors International, Inc. . . . . . . . . 13Communications-Applied Technology . . . . . . . . 16Correct Craft, Inc. . . . . . . . . . . . . . . . . . . . . . . . . 18Crown Hardwood Co., Inc. . . . . . . . . . . . . . . . . . 19Cutters Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Dexter Laundry, Inc. . . . . . . . . . . . . . . . . . . . . . . 21Drexel Metals, Inc. . . . . . . . . . . . . . . . . . . . . . . . 23FURminator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Hope Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29Justi Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 30Mark Rite Lines Equipment Company, Inc. . . . . 34MATCOR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . 35Metaldyne, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . 37Morgan Thermal Ceramics . . . . . . . . . . . . . . . . . 38Northwest River Supplies . . . . . . . . . . . . . . . . . . 39Optimum Spring Solutions, Inc. . . . . . . . . . . . . . 40PakSense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42Pelican Products, Inc. . . . . . . . . . . . . . . . . . . . . . 43Profile Products LLC . . . . . . . . . . . . . . . . . . . . . . 45Quality Float Works, Inc. . . . . . . . . . . . . . . . . . . . 46Reynolds Polymer Technology, Inc. . . . . . . . . . . 47SAS Automation . . . . . . . . . . . . . . . . . . . . . . . . . 49Sharpe Mixers . . . . . . . . . . . . . . . . . . . . . . . . . . . 52Spika Welding and Manufacturing . . . . . . . . . . . 53W R Systems, Ltd. . . . . . . . . . . . . . . . . . . . . . . . 60Winix America and Winix Inc. . . . . . . . . . . . . . . . 63Worldwide Protective Products . . . . . . . . . . . . . . 64

SERVICESCleary Gottlieb Steen & Hamilton LLP . . . . . . . . 17Fentress Architects . . . . . . . . . . . . . . . . . . . . . . . 24Hawaii Exports International, Inc. . . . . . . . . . . . . 28Ropes & Gray LLP . . . . . . . . . . . . . . . . . . . . . . . 48Tradewinds Global . . . . . . . . . . . . . . . . . . . . . . . 55Universal Weather and Aviation, Inc. . . . . . . . . . 57VP Records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59

TECHNOLOGYAnalytical Graphics, Inc. . . . . . . . . . . . . . . . . . . . . 4DiSTI Corporation . . . . . . . . . . . . . . . . . . . . . . . . 22GT Advanced Technologies . . . . . . . . . . . . . . . . 27S.I. Tech, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50Texas Instruments Incorporated . . . . . . . . . . . . . 54Universal Display Corporation . . . . . . . . . . . . . . 56

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