Ahead of external affairs minister S Jaishankar’s visit to South Korea, Chang Jae-bok, Korean Ambassador to India, emphasizes the need for further enhancements in India’s business environment to attract increased investments.
In his address at the inaugural session of the CII Delhi State Annual Session and Business Conference, Ambassador Chang highlighted the enduring economic partnership between India and Korea, citing notable investments and deepening collaborations between the two nations. He also encouraged Indian businesses to explore promising opportunities in Korea.
As India and Korea commemorate 50 years of diplomatic ties, the event provided a platform to celebrate and reaffirm the strong economic alliance between the two countries.
He affirmed the Korean Embassy’s commitment to fostering continued collaboration with CII and mentioned that investments from Korea are diversifying across various sectors, beyond the traditional focus on electronics and automobiles.
Notably, Korean semiconductor companies are making significant strides, aligning with India’s Semiconductor Mission. He noted a growing interest in joint ventures with Indian companies, which, he believes, will create synergies between Korea’s high-tech expertise and India’s market knowledge, thus strengthening Korea-India relations.
During the session, a Compendium titled ‘India & Republic of Korea – Enduring Business Partnership @ 50 and beyond’ was released by Ambassador Chang. The Compendium, supported by the Korean Embassy, Embassy of India in Seoul, Kotra-India Korea Business Cooperation Center, and Korea International Trade Association, marks the 50th anniversary of diplomatic ties between India and Korea. It includes case studies of successful Korean companies in India and Indian companies in Korea, highlighting business collaborations and joint ventures between the two nations across different sectors.
Puneet Kaura, Chairman of CII Delhi State, emphasized the shared vision of growth and trust between India and Korea. He mentioned Korea’s conversion of a dumpsite into the World Cup Eco Park as an example of transformative initiatives contributing to sustainable development.
Deepak Jain, Chairman of CII Northern Region, celebrated the 50th anniversary of diplomatic relations between India and Korea. He expressed optimism about expanding collaborations across various sectors and renewed the commitment to strengthening economic relations between the two countries.
The event celebrated the enduring partnership between India and Korea over the past 50 years and highlighted the importance of collaboration and mutual prosperity, paving the way for innovative partnerships in the future.