From the Arkansas Advocate:
Gov. Sarah Huckabee Sanders next week will travel to Japan and South Korea alongside state economic development officials to try to recruit additional international investment in Arkansas.
The March 6-14 trade trip will be Sanders’ second overseas after a visit to Europe last year, and she’ll be joined by Commerce Secretary Hugh McDonald and Economic Development Commission Director Clint O’Neal.
“I’ll meet with Japanese and Korean business executives and government leaders to encourage investment in Arkansas and deepen our state’s connection with America’s Asian allies,” Sanders said in a statement. “With the rising threat posed by the Chinese Communist Party, these relationships have never been more important. Arkansas is making groundbreaking advancements in energy, aerospace, manufacturing, and more.”
Overseas “trade missions” have become a staple for Arkansas’ chief executives, and former Govs. Asa Hutchinson and Mike Beebe each visited Asia during their administrations.
Sanders’ administration, in contrast to her predecessors, has taken an antagonistic stance towards China, including investigating several agriculture companies and their ties to the Chinese government.
Sanders has tied last year’s European trip to several economic development announcements in recent months, including Walther’s expansion in Fort Smith, Dassault Falcon’s expansion in Little Rock and a new missile factory in Southeast Arkansas.
Japanese entities purchase the 7th most commodities exported from Arkansas — $161 million in 2022, according to Economic Development Commission data. Japan lagged Canada, Mexico, China, the United Kingdom, the Netherlands and France.
South Korea brought in the 8th most Arkansas exports, totaling $141 million in 2022, the most recent year for which data is available.
Asian-owned companies employ more than 6,500 Arkansans, according to state economic data.
Japanese-owned companies employed 4,947 Arkansans in 2022, the most of any other country’s businesses. The state is home to 44 Japanese companies. That’s the fourth most of any country behind Germany, the United Kingdom and Canada.
Some of the largest Japanese companies operating here include Mitsubishi, Nucor-Yamato Steel and Bridgestone.
Four South Korean companies employed 203 Arkansans in 2022, including LG and Samsung.
