South Korea considers India as the long-term Investment Partner post Covid 19

No.PR-75 May 15, 2020 New Delhi South Korea considers India as the long-term Investment Partner post Covid 19 New Delhi, 15th May 2020: The world is witnessing the carnage of the novel coronavirus (COVID-19) pandemic and it is commendable how South Korea has handled the pandemic situation. South Korea with its high recovery rate and such a large pool of recovered people could facilitate a wide assessment of convalescent antibody-led lines of treatment. India and South Korea have been sharing a long-term relationship which has evolved over the years. To understand the current business and trade relations between the two nations and the opportunities post Covid19, PHD Chamber of Commerce and Industry organized an interactive webinar on “India - South Korea Business Promotion, Challenges, and Opportunities - Post Covid19” with H.E. Ms. Sripriya Ranganathan, Ambassador of India to South Korea. Highlighting the long-term relationship between India and South Korea, H.E. Ms. Sripriya Ranganathan, Ambassador of India to South Korea also acknowledged the efforts of the Chamber to be a facilitator of the MSME sector. She mentioned that the sector has been a priority for the Indian government and there are immense opportunities for bilateral business and economic cooperation between Indian and South Korean counterparts. She was affirmative regarding the UP-Help Desk of the Chamber, as it will be a practical and useful resource for the Korean companies who are considering India as the long-term Investment Partner as the current number of South Korean Companies operating in India has increased from 600 to over 1200 in the last couple of years. H.E. Ms. Sripriya Ranganathan shared how the government of South Korea has handled the pandemic by following the 3 Ts- Trace, Test, and Treat, by expanding testing and using the GPS technology to do the massive tracing of COVID 19 carriers. Mr. Kim Moonyoung, President, Korea Trade-Investment Promotion Agency (KOTRA) highlighted the Korean market and economy, and opportunities for Indian businesses in depth. He echoed the views of Her Excellency by stating that the South Korean companies are considering India as the partner as India is the largest democratic country and offers political and economical stability. Mr. Sanjay Aggarwal, Senior Vice President, PHD Chamber of Commerce and Industry in his welcome address gave a brief insight into relations between India and South Korea. He also commended the efforts made by the South Korean Government for fighting Covid-19, as South Korea, that has a population of a little more than 5 crores, could roll out its programs on a national level. Mr. Ajay Poddar, Chair, International Affairs Committee for ASEAN, East Asia & Oceania in his address shared that there is massive scope to expand ties between India- South Korea with immense potential in diverse areas such as technology, e-mobility, health care, cultural relations, institutional exchange, building on people-to-people contact, and civilizational connection. Mr. Saurabh Sanyal, Secretary General, PHD Chamber of Commerce and Industry, gave the formal Vote of Thanks and assured that the Chamber would also be getting in touch with the member companies in India who would like to do business with their Korean counterpart. Dr. Ranjeet Mehta, Principal Director, PHD Chamber of Commerce and Industry, apprised about the new initiative of PHD Chamber to set up Uttar Pradesh Investment Help Desk, with a vision to present Uttar Pradesh as the most attractive destination for investments in the country, and act as an extended arm of the State Government to coordinate with investors from South Korea and other parts of the globe. The webinar was moderated by Mr. Naveen Seth, Principal Director, PHD Chamber of Commerce and Industry and was attended by Mr. Purrshottam Bhaggeria, Chair, International Affairs Committee for Europe & CIS; Mr. Vivek Agarwala, Chair, International Affairs Committee for Africa; Mr. Vikram Gera, Co-Chair, International Affairs Committee for Europe & CIS; Mr. Surinder K Kalra, Co-Chair, International Affairs Committee for Gulf, and over 60 members of PHD Chamber which included industry players and other industry stalwarts from all across the world. Ends. Media Division PHD Chamber of Commerce and Industry