WHEREAS, This state has established overseas trade offices charged with developing the state’s exports and promoting job-creating industry investment in the state; and

WHEREAS, The state currently has overseas trade offices located in London, Frankfurt, Mexico City, Taipei, Hong Kong, Tokyo, and Africa, and a representative office in Jerusalem; and

WHEREAS, In the Southeast Asian countries, there has been a dramatic policy shift emphasizing macroeconomic stability, exports, privatization, foreign investment, and infrastructure development; and

WHEREAS, Because of the rising demand for state-of-the-art capital and intermediate goods, technology, services and foreign investment, this state’s sophisticated service and technology centered economy stands to do well in exporting its own state-of-the-art goods and services to this rapidly emerging market, and economic growth in this market will also allow California agriculture to benefit through the exportation of a wide variety of products; and

WHEREAS, The state is able to offer some services to support state-owned businesses operating in the principal markets in the East Asian region except for businesses operating in South Korea; and

WHEREAS, South Korea’s economic output is greater than that of either Taiwan or Hong Kong and it has become this state’s fourth largest export market after Japan, Canada, and Mexico, the bulk of state exports to South Korea are electronics, computers, and industrial machinery, products that are assisting South Korean companies in strengthening their competitive advantages in international markets, and South Korea is the third largest East Asian investor in this state after Japan and Hong Kong; now, therefore, be it