Korea - Chicago Ties

Business Ties
  • There are an estimated 25 Korean companies in greater Chicago including: Hyundai, Korea Airlines, Korean Business Development Center (houses several Korean companies), LG Electronics and Samsung
  • There are an estimated 60+ Chicago-area companies in Korea including: Abbott Laboratories, Baxter, Boeing, Hyatt, Ingredion, ITW, Motorola Solutions, Nalco and United Airlines
  • Korean Consulate General of the Midwest in Chicago
  • Korea Trade Investment-Promotion Agency (KOTRA) in Chicago
  • Chicago-Busan Sister City relationship, since 2007
  • There are 11 weekly nonstop departures from Chicago airports to destinations in Korea
  • An estimated 58,000 Koreans reside in Illinois
  • Mayor Emanuel hosted Korean President Lee, Oct. 2011
  • There are approximately 3,590 Korean students studying at Illinois universities
Recent Expansions
  • TmaxSoft moved its US HQ and 20 jobs to downtown Chicago from the suburbs in 2015. And in 2016 announced it would establish its global HQ in downtown Chicago with more jobs
  • Korean investors acquired 161 N. Clark for $348 million and 225 W. Wacker for $218 million in 2014
  • Hwaechon America, Lincolnshire, 2014
  • Hyundai WIA Machine Tool move from New Jersey to Itasca, 2014
  • LG Electronics USA, first US R&D Center in Buffalo Grove, 2011 (LG Electronics, Inc.)
  • Samsung Electronics, 650,000 sq. ft. distribution center in Romeoville, 2011
Total Trade with Illinois, 2016: Illinois $7.0 billion
  • Total Imports to Illinois, 2016: US $5.8 billion
  • Top Import Categories, 2016: Electric machinery, machinery parts, spacecraft, vehicles and plastics
  • Total Exports from Illinois, 2016: US $1.2 billion
  • Top Export Categories, 2016: Electric machinery, machinery parts, vehicles, medical instruments and food waste