India, South Korea launches Korea Plus, an initiative to strengthen relations

Jun 20, 2016 09:29 IST

nirmalaIndia and South Korea on 18 June 2016 launched a special initiative, Korea Plus. The initiative aims at promoting and facilitating Korean Investments in India.

The platform was launched by the Commerce & Industry Minister Nirmala Sitharaman and Joo Hyunghwan, the Minister of Trade, Industry & Energy, Government of Korea.

Key facts of Korea Plus

• The mandate of Korea Plus covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time.

• It will look into issues faced by Korean companies doing business in India and policy advocacy to the Union Government on their behalf.

• It will act as a mediator in arranging meetings, assisting in public relations and research/evaluation

• It will provide information and counselling in regard to Korean companies’ investing in India.

It comprises of a representative from the Ministry of Industry, Trade and Energy, Government of Korea and representative from Korea Trade Investment and Promotion Agency (KOTRA). Besides, it also includes three representatives from Invest India.

Background

The two nations inked an MoU for establishing Korea Plus in January 2016. This MOU came as an outcome of the visit of the Indian Prime Minister to South Korea in May 2015.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes7 People Agreed

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK