South Korea hails India's economic reforms

South Korea has lauded the economic reforms in India and expressed its belief that the latter is well on its way to becoming a true economic power and added that it will be a special partner in that.

This was conveyed by South Korean President Moon Jae-in during his meeting with Finance Minister Arun Jaitley here on Thursday.

"President Moon lauded the bold economic reforms in India and shared his belief that India was on its way to becoming a true economic power. In the process, he hoped that South Korea would be a special partner and that the special strategic partnership would continue to grow," the Finance Ministry said in a statement on Friday.

Moon said there was a strong will on both sides in building the bilateral ties. He noted the presence of India's highly skilled professionals in Korea and hoped that such partnerships would continue to help both countries grow.

Underlining immense opportunities for the two countries, Jaitley said India and Korea should forge partnerships in infrastructure investment and manufacturing.

Earlier in the day, Jaitley had separate meetings with the CEO of Samsung Electronics, Chairman of Hyosung Group, Managing Director of Hanwha Group, Chairman of Doosan Heavy Industries and the CEO of Hyundai Rotem.

He also separately met leaders of Korea's financial industry, including CEOs and CIOs of the Korean Investment Corporation, Korea Post, KB Financial Group, Shinhan Group, Woori Bank, Mirae Asset, Nonghyup and Military Mutual Aid.

Later, Jaitley delivered the key note address at an India-Korea business meeting, co-hosted by the Korean Chamber of Commerce and Industry (KCCI), Embassy of India and the Federation of Indian Chambers of Commerce and Industry (FICCI).

"Over a hundred representatives of Korean business and industry were in attendance," the statement read.

--IANS

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