India, South Korea signed MoU for Defence Industry Co-Operation in Shipbuilding

Apr 23, 2017 11:03 IST

India and South Korea on 21 April 2017 signed a inter-governmental Memorandum of Understanding (MoU) for defence industry co-operation in shipbuilding.

India Korea MoU Defence

The MoU was signed by Secretary (Defence Production), Ashok Kumar Gupta from the Indian side and Minister of Defence Acquisition and Programme Administration (DAPA), Chang Myoung-Jin from Korea’s side.

Salient features of the India-South Korea MoU

•    The MoU seeks to develop and strengthen defence industry co-operation between India and South Korea.

•    As part of the MoU, the two sides will recommend the organisations for collaborating in the implementation of specific projects.

•    The organisations recommended for co-operative projects may conclude separate agreements (contracts) between them to implement the specific projects.

•    The MoU will be initially valid for a period of five years and would be automatically extendable for further successive five year at a time.

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Background

•    The Inter-Governmental Memorandum of Understanding (MoU) was conceived under the overall umbrella of the ‘Special Strategic Partnership’ between India and South Korea.

•    The Special Strategic Partnership was mentioned for the first time in the Joint Statement of the Prime Minister of India and the President of South Korea in May 2015.

•    To substantiate the ‘Special Strategic Partnership’, the two sides had inter-alia agreed to encourage greater co-operation between their shipyards in the defence sector.

•    Accordingly, it was decided to sign an inter-governmental MoU on ‘Defence Industry Co-operation in Shipbuilding’.

•    The Cabinet Committee on Security (CCS), headed by the Prime Minister Narenda Modi,  has accorded its approval for signing the above MoU with South Korea.

•    The CCS also gave its nod for the nomination of Hindustan Shipyard Limited (HSL), Visakhapatnam from the Indian side for the collaboration.

•    South Korea will indicate the name of its recommended organisation for the collaboration in due course of time.

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