India delighted at transformation in India-Korea ties: Mukherjee

South Korean President H.E. Park Geun-Hye called on her Indian counterpart Pranab Mukherjee at Rashtrapati Bhavan on Thursday and attended a banquet in her honour following the meeting.

Welcoming President Park Geun-Hye, Mukherjee said India is happy that she is visiting India in her first year of presidency.

"The Government of India is delighted at the transformation in India-Korea ties. There is increasing commonality of views between India and Republic of Korea on many regional and international issues based on converging national interests of both countries," he said.

"Economic exchanges are the bedrock of the strategic partnership between India and the Republic of Korea. India looks forward to working with the Republic of Korea to enhance trade and investment between two countries. India would like to see more Korean investment in India's physical infrastructure," he added.

In his banquet speech, Mukherjee said it is a matter of satisfaction that President Park Geun-Hye's visit is taking place at a time when the two countries are celebrating the fortieth year of diplomatic relations.

"India sees the Republic of Korea as one of the most progressive nations in modern times. The industrious people of the Republic of Korea have been able to overcome all odds and rise from the devastation of war to realize their impressive economic potential," he said.

"Today the Republic of Korea is the 4th largest economy in Asia. As a friend and partner, India wishes the people of Korea every success in their endeavors to achieve a second economic 'Miracle on the River Han'," he added.

The President said leading Korean companies have become household names in India. Similarly, Indian companies and banks are investing and establishing themselves with good results in the Republic of Korea.

"India values the presence and progress of Korean enterprises in India. India is also glad to see the recent expansion in cultural, academic and other people-to-people exchanges between two countries," he said.

"India looks forward to intensifying joint efforts to build on mutual goodwill and growing synergies to further strengthen relationship between India and Korea," he concluded.