South Korea would reciprocate with an ’Act India/Act West’ policy in response to India’s ’Act East’ invitation, says the Consul-General of the Republic of Korea in Chennai, Mr. Kim Kyungsoo. …Read More
SEOUL: India and South Korea have infused a new energy into their multi-faceted partnership by upgrading ties to “special strategic partnership” and signing seven bilateral agreements in diverse areas.
“Our relationship started with a strong economic emphasis. But, it has also now become strategic in content,” Prime Minister Narendra Modi said on Monday.
“The decision to upgrade bilateral ties reflect how seriously we take the new framework of our relationship. Republic of Korea is the second country with which India will have a diplomatic and security dialogue in 2+2 format,” PM Modi said while addressing a joint press conference with South Korean President Park Geun-hye in Seoul.Read More
As India’s Prime Minister Narendra Modi arrived in South Korea, on his last leg of three-nation visit, Seoul has announced that it will offer $10 billion to support several of India’s ambitious projects including bullet trains and smart cities.
“My country is offering India a financial package amounting to a total of $10 billion. This will comprise an economic development cooperation fund of $1 billion and export credits of another $9 billion,” said Joon-gyu Lee, South Korea’s envoy to India.
Several South Korean companies are doing well in India, and this has given confidence to other Korean organisations to expand its manufacturing and other operations in the country.Read More