Would like more Korean investment in infrastructure: President

India would like to see more investment by South Korea in India's physical infrastructure, President Pranab Mukherjee said.

Mukherjee hosted a banquet in honour of South Korean President Park Geun-Hye at the Rashtrapati Bhavan Thursday.

On the occasion, the president expressed India's happiness over the visit of the South Korean president in her first year in office and "at the transformation in India-Korea ties".

"Economic exchanges are the bedrock of the strategic partnership between India and the Republic of Korea. India would like to see more Korean investment in India's physical infrastructure," Mukherjee said in his banquet speech.

"There is increasing commonality of views between India and Korea on many regional and international issues based on converging national interests of both countries. India looks forward to working with the Korea to enhance trade and investment between two countries."

Voicing his "satisfaction" that the state visit was taking place at a time when both the countries were celebrating their 40th year of diplomatic relations, Mukherjee said India saw South Korea as one of the most progressive nations in modern times.

"The industrious people of Korea have been able to overcome all odds and rise from the devastation of war to realize their impressive economic potential. Today it is the fourth largest economy in Asia. As a friend and partner, we wish the people of Korea every success in their endeavours to achieve a second economic 'Miracle on the River Han'."

Mukherjee said leading South Korean companies have become household names in India and similarly Indian companies and banks are also investing and establishing themselves with good results in South Korea.

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

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