Seoul calling: Korean startups, SMEs come to India looking for partners, associates

NEW DELHI. Representatives of Korean startups and SMEs reached India on Wednesday to look for Indian partners and associates, and to invite them to Seoul.

The interest areas included cosmetics, animation, home appliances, solar energy, virtual reality, eco food preservatives, data analysis, biotech, fin-tech, IT Solutions, solar energy, and manufacturing sector.

Led by Investment & Business Incubation Division, Seoul Metropolitan Government, the top executives, and founders of 15 Korean companies invited the Indian businessmen to set up their shops in Seoul, and take advantage of its world-class infrastructure.

The executives of these Korean companies also had one-on-one interaction with Indian counterparts during the event titled “Discover Business Opportunities in Seoul” here.

Pan Kyu Choi, Director of Investment & Business Incubation Division, Seoul Metropolitan Government delivered some tips to the Indian businessmen on how to discover business opportunities in Seoul, and also counted on the advantages and incentives they could avail by going to Seoul.

“Why so many companies choose Seoul as their business destination in Asia is because it offers excellent business infrastructure and business promotion opportunities. Bloomberg Innovation Index has ranked Korea business index as the world’s number one. Korea is among the top 50 innovation nations in the world. It has the highest internet speed and it tops highest IT ratings globally,” said Choi.

Seoul has been the perfect place for world’s best foreign companies to expand their business and enjoy greater gain, said he by adding that Seoul is the gateway to the world market such as Tokyo, Shanghai, and others.

The Korean companies included Aionco Korea, CM White, Coiz and Jewoo Medical in cosmetics, ES Controls and Forbiz Korea in IT System and Solution, Balance Hero in Fin Tech, Chung-Ryu FNS in manufacturing, HP Bio in biotech, Loco in animation, Medipresso in home appliances, Mirae E&I in solar energy, , O2power in eco- food preservatives, Research Mento in data analysis and Vrani in virtual reality sector.

On the sidelines of the event Y K Lee, the chairman of Korean Small & Medium Enterprises Association (KOSMA) in India said that “Discover Business Opportunities in Seoul” offered an excellent opportunity to the Indian businessmen to explore new market avenues in Korea.

Also read: Korean, Indian MSME associations sign pact to boost Korean investment in India

Kim Chung Kook, the CEO, JEWOO Medical Company Limited that offers a number of medico-cosmetic products such as high-quality toothpaste with the FINEFRA brand his company had ventured into India for the first time though they have products being exported to many countries globally.

Leo Lee, COO, Forbiz Korea Co. Limited- an IT solutions company offering technology for the e-commerce companies like Lazada and Shopee said that the Indian e-commerce players had greater opportunity to venture into Korean markets and vice versa.

“We can work with APIs of e-commerce companies like Snapdeal and Flipkart and help them expand their market horizon. We offer services like multi-channel order management and online shopping mall,” he added.