South Korean envoy lauds country's enduring business partnership with India
Mar 04, 2024
New Delhi [India], March 4 : South Korean Ambassador to India, Chang Jae-bok, on Monday lauded the enduring business partnership between the two nations, emphasizing substantial investments and deepening collaborations.
Addressing the inaugural session of the CII Delhi State Annual Session and Business Conference here in the national capital, South Korean envoy highlighted the need for further improvements in India's business environment to attract more investments and encourage Indian businesses to explore opportunities in Korea.
He further thanked CII and its members for their contributions to enhancing Korea-India economic relations, and affirmed the Korean Embassy's commitment to fostering continued collaboration with CII.
Envoy Chang said, "Investments are diversifying across various sectors, moving beyond the traditional focus on electronics and automobiles. Notably, Korean semiconductor companies are making significant strides, aligning with India's Semiconductor Mission."
He also highlighted that investments are becoming increasingly intertwined, with a growing interest in joint ventures with Indian companies.
"This approach will create synergies and win-win situations between Korea's high-tech expertise and India's market knowledge, strengthening Korea-India relations", he added.
Additionally, the South Korean envoy also released a compendium titled, 'India & Republic of Korea - Enduring Business Partnership @ 50 and beyond'.
The Compendium has been brought out by CII with the support of Embassy of Korea, New Delhi and Embassy of India, Seoul along with Kotra-India Korea Business Cooperation Center and Korea International Trade Association (KITA), on the occasion of the 50th anniversary of India Korea diplomatic ties.
It encompasses case studies of successful Korean companies invested in India as well as, Indian companies that have established operations in Korea.
Moreover, it also includes stories of business collaboration, including joint ventures, projects, and technical collaborations between Indian and Korean companies across sectors. It serves as a tribute to the remarkable 50-year-long diplomatic ties shared by India and South Korea.
Chairman of CII Delhi State, Puneet Kaura, emphasised the shared vision of growth and trust between the two countries.
He highlighted the transformative potential of collaborative initiatives, such as Korea's conversion of a dumpsite into the World Cup Eco Park, offering valuable insights for sustainable development.
Meanwhile, Deepak Jain, Chairman of CII Northern Region, welcomed the participants and celebrated the 50th anniversary of diplomatic relations between India and Korea, expressing optimism about expanding collaborations across various sectors.
The session concluded with a renewed commitment to bolstering India-Korea economic relations, fostering mutual prosperity, and paving the way for innovative partnerships in future.
