April 03, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Virginia to host 1998 Southeast U.S. - Korea Economic Conference
-- Governor Gilmore Names Former Pittston CEO as Chairman - -

Richmond - Virginia Governor Jim Gilmore today announced that the Commonwealth of Virginia will host the 13th Annual Joint Conference of the Southeast United States-Korea Economic Committee (SEUS) and the Korean-U.S. Economic Council, Inc., in Williamsburg, November 7-9, 1998. The Governor also named Joseph C. Farrell, Chairman Emeritus of The Pittston Company, chairman for the 1998 conference.

"I am pleased to announce that the SEUS/Korea Joint Conference will take place this year in Williamsburg, Virginia," said Governor Gilmore. "Our economic relationship with Korea strengthens each year. Our economic development leaders look forward to networking and entertaining Korean business leaders and officials here in Virginia's pro-business environment."

The joint conference was first held in 1985 to promote international trade, mutual investment and cultural understanding between the Republic of Korea and the Southeastern U.S. states of Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.

Previous SEUS/Korea conferences have attracted more than 350 delegates, including the Korean ambassador and the governors from participating states. Virginia last hosted the conference in 1988. The host state for the conference rotates biannually among the seven member states and convenes in Korea every other year. Delegates at this year's conference will meet to discuss current issues regarding trade and investment between the Southeastern U.S. states and Korea. In recent years, technological exchange has been an area of increased interest.

SEUS/Korea Conference Chairman Joseph C. Farrell recently retired from The Pittston Company, a Fortune 500 company headquartered in Richmond, where he had served as chairman and chief executive officer since 1991. Mr. Farrell graduated from Northeastern University with a degree in electronic engineering and received an MBA from Harvard. He served in the U.S. Navy and was president of Freeport Gold Company before joining The Pittston Company in 1984. Mr. Farrell currently serves on many boards including the Board of Trustees of Virginia Commonwealth University School of Engineering Foundation, the Board of Visitors of James Madison University and the Board of Trustees of the Virginia Foundation for Independent Colleges.

The Virginia Economic Development Partnership and numerous regional and local economic development organizations will plan and administer the 1998 SEUS/Korea conference.

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