ICCK

India Forum & ICCK co-hosted the seminar

 India Market Entry Strategy Based on

a New Relationship between India and Korea

Indian Prime Minister Shri Narendra Modi Visit to South Korea (February 21st ~ 22nd February 2019)

February 19th (Tuesday) 2:00 ~ 4:40 pm, Kim & Chang Conference Room

The Indian Chamber of Commerce in Korea (ICCK) & India Forum organized the ‘69th India Forum: India Market Entry Strategy Based on a New Relationship between India and Korea’.

In this seminar over 150 companies and institutions have attended. Three speakers presented on the New Southern Policy, New model of India Market Entry Strategy, and Strategy in Investment.

The importance of India in South Korea’s foreign policy has risen in recent years. South Korean President Moon Jae-in’s “New Southern Policy” (NSP) attached primacy to strengthening the country’s economic and strategic relations with India, as well as the countries of Southeast Asia. It is the first time that South Korea has clearly designed a foreign policy initiative for India and officially documented it immediately after President Moon assumed office in May 2017, he sent a special envoy to India; it is an unprecedented move that highlights his government’s desire to shape a new paradigm in Seoul-New Delhi relations. Since then, a number of high-level official delegations have visited India.

India has the world's 6th largest economy, the world's second largest population, with the High growth rate of 7% and emerging as a global economic powerhouse. In addition, Prime Minister Narendra Modi is actively pursuing Make-in India, which is a manufacturing activity policy of its own country. As a result, the Korean company's model of entry into India is changing. For example, Samsung Electronics is pushing for local production of parts such as display panels, and Lotte is also pushing for direct entry into the agro-food sector to put a plant in India. In addition, awareness of Korea in India is also rising recently, and there are also more opportunities to enter everyday consumer goods such as K-Beauty and K-Food in addition to existing Samsung phones.

In line with this newly changing Korea - India relationship, our companies need new entry strategies.

With this the Indian Chamber of Commerce in Korea (ICCK) and the India Forum had planned to organize a joint seminar on Tuesday, 19th February 2019, in line with this trend, to strengthen the relationship between India – Korea.

In this forum, former Ambassador Mr. Joongyu Lee gave the opening remarks as the new chairman of the 'India Forum'. Mr. Yeungki Kim, who runs BTN, a specialized business consulting company in Korea, spoke about Indian market strategy as global value & how to explore'. In addition, Ms. Soyeon Park, official member of Special committee on New Southern Policy (under Korean Govt.), made a presentation on the ‘New Southern Policy’ and last not the least Mr. Seungjae Yoo, Foreign Attorney at Kim & Chang made a presentation on “Things to Keep in Mind when Investing in India”.

Mr. Hwijae Lee, Secretary General of the Indian Chamber of Commerce in Korea (ICCK) and Mr. Joongyu Lee, former Ambassador to India said “The Make in India Initiative started by Prime Minister of India Shri Narendra Modi is a great opportunity for all Korean Companies to grow in India”. “I hope that the trade and investment between Korea and India will increase exponentially in the near future”. India Forum and Indian Chamber of Commerce in Korea (ICCK), with a broad understanding and knowledge of both Korea and India, "We are doing our part to help the Korean & Indian Businesses to grow in their specific sectors.

http://www.fnnews.com/news/201902201556083252  

https://www.nocutnews.co.kr/news/5107726

http://www.fnnews.com/news/201902201556083252

http://www.dongponews.net/news/articleView.html?idxno=39040