SEOUL, November 06 (AJP) - Democrats’ sweeping comeback in the Nov. 3 U.S. midterm elections two years after they lost the White House has sent shockwaves through South Korea’s chip-heavy stock market. But North Carolina, under a Democratic governor, is eager to deepen ties with South Korea.
“North Carolina’s long-term economic success depends in part on our strong relationships with our allies, and South Korea is an important partner,” Gov. Josh Stein told AJP in a written interview conducted before the vote.
After the results came in, Stein said voters had sent “a clear message.”
“They want real action from their elected officials – leaders who are committed to serving them,” he said. “I look forward to working on the issues that matter the most, from lowering the cost of living to keeping people safe and continuing to invest in the people who make North Carolina the best place to live, work, and raise a family.”
“Voters rightly expect their elected officials to work together to get things done,” he said, signaling his willingness to work with lawmakers from both parties.
Stein, a former state attorney general, took office in January 2025.
A growing Korean footprint
With about 11.2 million people, North Carolina is the ninth-most populous U.S. state and an increasingly popular destination for foreign manufacturers. In 2025, it imported about $1.1 billion worth of goods from South Korea and exported $660.6 million to the Korean market, according to the Economic Development Partnership of North Carolina (EDPNC).
Meat and pharmaceutical products made up nearly a third of those exports.
As of July 2026, 22 Korea-based companies operated 23 facilities in the state employing 1,605 people, according to updated EDPNC figures provided by Stein’s office. Over the preceding decade, eight Korean companies chose North Carolina for new operations or expansions, announcing more than 700 jobs and over $184.9 million in investment.
In February 2026, LS Cable & System USA, a subsidiary of South Korea’s LS Cable & System, announced a $50 million expansion of its power cable plant in Tarboro. The project is expected to create 85 jobs and add two production lines for medium-voltage cables used by utilities, renewable energy developers, data centers and industrial customers.
Another Korean manufacturer, polyethylene pipe maker COSMOIND, announced plans in 2022 to set up its first North American manufacturing operation in Nash County, investing more than $12.8 million and creating a projected 168 jobs.
Asked whether he would lead a trade mission to South Korea during his term, Stein stopped short of committing to a visit.
“I would heartily welcome an opportunity to talk with Korean business leaders,” he said.
“I know those conversations are important to establish and build relationships that can lead to jobs and opportunities back home, and I’d be eager to talk more with any South Korean businesses looking to expand their operations to our state.”
“Economic development is a team sport”
Stein said North Carolina’s biggest competitive advantage is its people. He pointed to a manufacturing workforce of nearly half a million, the largest in the southeastern United States, along with the state’s universities and community colleges.
“We produce both the advanced-degree graduates who design complex products and the skilled technical workers who manufacture them,” he said. “That unbeatable combination helps companies innovate and grow.”
Asked how the state could help Korean manufacturers put down lasting roots rather than just attract an initial investment, Stein stressed predictability and long-term partnership.
“Our relationship with businesses doesn’t end with the initial announcement or the ribbon-cutting; it has only just begun,” he said. “No matter where they come from, businesses value certainty. Businesses need a skilled workforce, reliable infrastructure, and strong partners that can help drive success in the long term.”
He said state and local governments, community colleges and private companies must work together to prepare industrial sites, train workers and help foreign investors settle into local communities.
“We know that economic development is a team sport,” he said.
Stein sees room for deeper cooperation in biotechnology, pharmaceuticals, advanced manufacturing and energy infrastructure. Research Triangle Park, near Raleigh and Durham, is one of the country’s major life sciences hubs. The Piedmont Triad region has strengths in aerospace and advanced manufacturing, and Charlotte is the nation’s second-largest banking center.
“Many South Korean companies bring tremendous expertise to these fields we’re already investing in, and I welcome the opportunity to work together and build on each other’s strengths,” he said.
He wants the relationship to run both ways.
“We want South Korean companies to find opportunity in North Carolina, and we also want North Carolina companies to find opportunity in South Korea,” he said.
“International trade is about more than moving products across borders. It’s about building relationships and learning from one another in the process.”
Record pledges, rising pressures
Stein’s pitch rests on a record year. Companies announced more than 35,000 jobs and about $24.1 billion in investment in North Carolina in 2025, his first year in office, according to the state Commerce Department and EDPNC. Both figures were all-time state records. They are commitments, not jobs already filled or money already spent.
The largest include aerospace startup JetZero’s planned aircraft manufacturing complex in Greensboro, a proposed $4.7 billion investment with more than 14,500 jobs over the next decade. Amazon Web Services announced plans to invest $10 billion in a cloud computing and artificial intelligence campus in Richmond County. That puts North Carolina squarely in the data center buildout now under political scrutiny after the midterms.
CNBC named North Carolina America’s Top State for Business in 2025, its third win in four years. The state slipped to second behind Ohio in CNBC’s 2026 rankings. Site Selection magazine ranked it first for workforce development in 2026, and Business Facilities magazine named it its 2025 State of the Year for Economic Development.
“Our job now is to continue building on those successes and turn investments into lasting opportunity for North Carolinians,” Stein said.
Growth brings strain. North Carolina gained about 84,000 residents from other U.S. states between July 2024 and July 2025, the largest net domestic migration gain in the country.
A study commissioned by business and real estate groups estimated the state could be short more than 750,000 homes through 2029.
“Housing is one of our biggest challenges,” Stein said. “If unaddressed, that shortage will impact North Carolinians across regions, occupations, and income levels.”
In May 2026, he signed an executive order directing state agencies to prioritize housing and coordinate efforts to boost supply. He also named roads, the power grid and aging water systems as priorities.
“In addition to expanding access to advanced skills and bringing in jobs, we must also address the rising costs of housing, energy, and child care so that a dollar goes farther in our state,” he said.
Stein said growth must reach small towns and rural counties too, including western North Carolina, which is still rebuilding after Hurricane Helene in September 2024. The Commerce Department awarded more than $130 million in rural development grants in 2025 for infrastructure, housing, industrial buildings and downtown revitalization.
“People shouldn’t have to move to a big city for economic opportunity to be in reach,” he said.
On the political front, Democrats made gains in the General Assembly in the midterms, which could give Stein more leverage in budget talks. Divided control, however, may still force hard bipartisan compromises. Results remain subject to certification and possible recounts in close races.
“Try some of our great barbecue”
For Stein, opportunity is personal. His father, Adam Stein, helped found North Carolina’s first racially integrated law firm during the civil rights movement.
“My father helped found North Carolina’s first integrated law firm; he and his partners won a number of pathbreaking civil rights victories in North Carolina,” he said. “His example helped instill in me the importance of opening doors for everyone and making sure institutions live up to their promises.”
“The promise of North Carolina is this: If you work hard, where you come from should not limit how far you can go.”
He closed with an invitation to Korean investors that went beyond factories and workforce statistics.
“For any business thinking about investing in North Carolina, I’d invite you to visit our great state, drink a glass of sweet tea, and see our success firsthand,” he said. “While you’re here, you should also try some of our great barbecue – because I know this kind of culinary tradition is something our state has in common with South Korea.”
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