You are here: Home » News-CM » Economy » News
Business Standard

Korea Affirms Commitment To Raise The Level Of Korea-India Engagement: FICCI India-Korea Business Forum

Capital Market 

The of Republic of Korea, Mr. MOON Jae-in, affirmed his commitment to raise the level of Korea-engagement by extending his government's new 'Southern Policy' of People, Prosperity and Peace (PPP) to '3P Plus' in the new areas of cooperation such as shipbuilding, medical devices and Speaking at the India-Business Forum' organised by and the and Industry (KCCI), MOON said that the 'Southern Policy' was aligned with s 'Act East' policy. The synergy created by this alignment bode well for the future of Korea-relations, he said.

Korea, said MOON, would provide projects in India such as the and work on expanding S&T cooperation, especially in the fields of and lunar exploration. India's Commerce and Industry Minister, Mr. Suresh Prabhu, said that the two countries were moving constructively and taking advantage of the 'Early Harvest' provision in CEPA. He urged the Korean business to tap the opportunities available in India in areas such as


Prabhu said that the was actively pursuing the idea of setting up Special Economic Zones (SEZs) exclusively for Korean companies in order to give a fillip to the inflow of investment to India. 'The time was ripe to upscale India-business relations from' K Plus' to 'K Squared', he added. President, Mr. Rashesh Shah, said that the Indian industry was enthusiastically looking forward to unprecedented growth in India-trade and investment relations. The visit of President MOON with a 100-member business delegation, he said, would spur pro-active engagement between the Korean and Indian companies. He expressed confidence on greater collaboration in the fields of automobiles, electricals, construction and infrastructure.

Mr. Park Yong-Maan, Chairman, KCCI, said that the future cooperation between the two countries would aim at promotion of peace and stimulating greater investment through CEPA. Korean industry, he said, would focus on increasing business with local Indian partners and forge joint start-ups to take business relations to newer heights. The Business Forum witnessed the exchange of MoU documents between India?s & Group and and between and

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 13:00 IST