ACN News, Atomy, Balance Hero, Avan Strate, Seela, Buddtree, Seela, SAMC, Focustek, Brics among 50 Korea-India success stories
Reporter: Yatharth: The compendium “India & Korea – Enduring Business Partnership @ 50 and beyond” also includes Hyundai, Kia, India Hanwha Aerospace, LG, Lotte, Mirae Asset, POSCO, Shinhan Bank, EXIM Bank, and Nonghyup Bank among others.
New Delhi: The Confederation of Indian Industry (CII) in collaboration with the Embassy of the Republic of Korea and the Embassy of India in Seoul, released a compilation of success stories of 50 Korean companies operating in India and Indian companies establishing their presence in Korea. Supported by the Korea Trade-Investment Promotion Agency (KOTRA) and Korea International Trade Association (KITA), the compendium titled “India & Republic of Korea – Enduring Business Partnership @ 50 and beyond” was released on 4th March by Chang Jae-Bok, Ambassador, Embassy of the Republic of Korea during the CII Delhi’s Annual Session and Business Conference ‘India@100: Vision for Growth, Inclusiveness, Globalisation and Building Trust’.
Asian Community News (ACN) Network, Atomy, Avaada, Balance Hero, Avan Strate, Buddtree Management, Seela Infratech, Shradul Amarchand Mangaldas &Co., Focustek Manufacturing Services, Gung The Palace, and Brics are among 50 Korea-India success stories featured in the compendium. It also includes Hyundai, Kia, India Hanwha Aerospace, LG, Lotte, Mirae Asset, POSCO, Shinhan Bank, EXIM Bank, and Nonghyup Bank among others.
Puneet Kaura, Chairman of CII Delhi State & MD Samtel Avionics, Deepak Jain, Chairman, CII Northern Region & Lumax Industries, Chandrajit Banerjee, Director General of CII, E. B. Rajesh, Senior Director, CII, Rajiv Kumar, Deputy Director, CII Bin Joonhwa, MD, KOTRA New Delhi and Lee Yong-ho, Chief Representative, KITA India were also present.
In his address, Chang Jae-Bok, Ambassador, Embassy of the Republic of Korea said that that this compendium stood as a testament to the dedication of 50 Korean and Indian companies engaged in meaningful business collaborations, marking the 50th anniversary of diplomatic relations between our two countries.
“It goes beyond mere business transactions, encapsulating the narratives of individuals: Koreans who love India and Indians who love Korea. Large-scale economic cooperation between Korea and India started in the 1990s with major investments from renowned Korean corporations like Samsung, LG, and Hyundai,” ambassador added.
India & Republic of Korea – Enduring Business Partnership @ 50 and beyond
Successful stories on India Korea Business Cooperation
Hyundai Motors India, Hyundai Mobis, Kia India Hanwha Aerospace, LG Electronics, Lotte India, Mirae Asset Investment Managers, POSCO Maharashtra Steel, POSCO TMC, Shinhan Bank, EXIM Bank, Nonghyup Bank, Heungwuk India, H.L. Mande, LS Cable India, Heungkuk India, , Koindo, Krafton India, Novelis, MTA EMTC, NIMS India, Reliance MET City, Sensortec, Seoul Viosys, SG Autotech, Seela intratech, Shardul Amarchand Mangaldas & Co., Asian Community News (ACN), Atomy, Avaada, Balance Hero, Avan Strate, STN Insula India, Buddtree Management, Ceragem India, Dixan Technologies, Focustek Manufacturing Services, CJ Darcl Logistics, Cromsen Interactive, Deki Electronics, Exim Bank, Gung the Palace, BRICS India, TagHive India, Tata Daewoo, Uno Minda, Sandhar Technologies, YG-1 India, TCS.
While acknowledging India’s remarkable economic growth, he said that he personally witnessed their heightened enthusiasm, evident in my schedule filled with meetings with Korean CEOs exploring investment opportunities in India ambassador Chang said, “Reflecting on my two and a half years as the Korean Ambassador to India, I observe a noteworthy trend in Korea’sinvestment in India. Firstly, investments are deepening, exemplified by Hyundai Motors India’s acquisition of GM India’s Talegaon plant in Maharashtra. This strategic move brings Hyundai one step closer to its milestone of achieving an annual production of one million units. Secondly, investments are diversifying across various sectors, moving beyond the traditional focus on electronics and automobiles. Two Korean semiconductor companies, APACT and Simmtech, recently announced their investment in India.”
He said that the investments were becoming increasingly intertwined, with a growing interest in joint ventures with Indian companies. He said, “The example of the joint venture between APACT and ASIP I mentioned just now speaks well. This approach will create synergies and win-win situations between Korea’s high-tech expertise and India’s market knowledge, strengthening Korea-India relations.”
