Friendship, Communication Keys to Expanding Korean Investment in Georgia 

Editor’s note: This article is part of Arnall Golden Gregory’s annual partnership with Global Atlanta.

As Korean companies continue to invest in Georgia, friendship and clear communication have emerged as crucial factors in attracting and sustaining partnerships in key sectors of the state’s economy, according to Lance Lee, partner with Arnall Golden Gregory LLP (AGG) in Atlanta. 

Mr. Lee has played a significant role in facilitating vital Korea-Georgia connections by guiding Korean businesses through their U.S. expansions. He asserts that strong relationships and effective dialogue between international investors and local communities have made all the difference for Korean integration in the state – and will help to secure those investments under the Trump administration. 

Expanding Korean Business through Friendship 

Personal connection is especially important when companies are venturing into new markets, and many Korean businesses entering Georgia rely heavily on trusted relationships to navigate unfamiliar regulatory and business landscapes, Mr. Lee says.  

While the electric vehicle industry has seen the bulk of Korean investment in Georgia in recent years, Korean involvement in other sectors like semiconductor manufacturing is growing.  

Companies like Absolics Inc., a subsidiary of South Korea’s SK Group, announced a $600 million investment in a new facility in Covington that will produce glass-based substrates used in semiconductors. The venture is expected to create some 400 jobs.  

“I think we’ll see the growth of a much more diverse Korean pool of industries coming in,” Mr. Lees says, predicting that Korean electronics manufacturers will begin to invest in Georgia also, as they have done in other southern states like Texas and South Carolina. 

Policies like the CHIPS Act, Inflation Reduction Act (IRA) and incentives for EV batteries have spurred Korean expansion in the United States and Georgia. Korea-based Hanwha Qcells, for example, which has become the largest manufacturer of solar panel modules in North America, cited the IRA as an incentive for their expansion in Dalton and Cartersville. 

But the future of these types of policies is uncertain under the Trump administration. Other forms of “incentives” will be helpful, Mr. Lee notes.  

“A lot [Korean] companies are wondering what is going to happen. The new administration may or may not be as proactive. There are a lot of questions, and I think there’s a need to put people at ease. Just meeting and explaining goes a very long way,” he says. 

Visits like Gov. Brian Kemp’s to Korea earlier in 2024, for instance, are significant gestures that encourage Korea to look to Georgia for further investment opportunities, Mr. Lee adds.  

“Communication is incredibly important. At the end of the day, ongoing dialogue between Korean investors and their new Georgia communities will create a lot of success and happiness.” 

Lance lee, Agg

Advice for the Future of Korean Investment in Georgia 

For Korean investment to continue to expand into new industries like clean energy, Korean companies will need not only favorable incentives and manufacturing sites located near urban centers but also skilled talent and a welcoming environment, Mr. Lee asserts. 

“There are plenty of places in the U.S. they can invest, but they want to go where they feel welcome, not just in terms of technology and taxes, but also where there’s support from the government and support from the community. So, Georgia’s perfect,” he says. “They are looking for a warm environment where people feel that relationships are really important and they can stay here long term.” 

As Georgia continues to attract investment from Korean companies in the manufacturing and technology sectors, Mr. Lee encourages local governments and businesses in Georgia to actively nurture these relationships by maintaining open channels of communication and fostering a culture of collaboration.  

“Korean companies want to be more than just investors – they want to be good neighbors,” says Mr. Lee, noting that cross-cultural training and local community engagement are important strategies for Korean firms to bridge cultural gaps. 

Korean is the third-most spoken language in Georgia, and Korean restaurants and businesses are proliferating throughout the state. These cultural touchpoints help to integrate Georgians and Koreans, he notes. 

For Korean companies entering the U.S. market, particularly in Georgia, Mr. Lee advises they participate in local chambers of commerce and attend events in local communities.

He says they should not only talk about issues they face but also listen carefully to what people in the community think about their presence and learn how they can better become a part of that community. 

Korean companies should also focus on the “simple things,” like friendships, and prioritize relationships “in and of themselves,” rather than relationships based only on give and take, Mr. Lee says.  

“Communication is incredibly important. At the end of the day, ongoing dialogue between Korean investors and their new Georgia communities will create a lot of success and happiness.” 

See contact information for Mr. Lee on AGG’s corporate website.