[Event] On 4th of April, The Indian Chamber of Commerce in Korea (ICCK) in collaboration with FOMEK (Federation of Middle Market Enterprise of Korea) and Embassy of India in Seoul, held a seminar on Investment and Business Opportunities in India. The seminar majorly focused on India’s Investment Outlook for 2024 and was attended by more than 30 executives & employees from middle sized Korean companies.
The event started with opening remarks by H.E. Mr. Amit Kumar, Ambassador of the Embassy of India, Seoul, and Dr. Ho Joon Lee, Executive Vice Chairman of FOMEK.
During the remarks, H.E. Mr. Amit Kumar stated that India is the fastest-growing market in the world, with last year's growth rate of 6.8% and expected growth of over 7% this year. He highlighted bright futures in industries including manufacturing, construction, semiconductor, electronics, and green hydrogen.
Our ICCK Chairman, Mr. Ramesh Iyer talked about the investment environment of India, the factors attracting investors’ interest in India and how MSMEs are playing a crucial role in the growth of the country. He also mentioned the constant efforts made by the government of India to ease up the FDI inflows into the country.
One of our charter members, Mr. Harns Kim from Krafton also presented Krafton’s success story of entering the Indian market. Additionally, he talked about Krafton’s financial decision of investing around 180 million USD back into the Indian market and their future intentions of investing the same amount again.
Our ICCK member Chung In Choi, Senior Foreign Attorney from Shin & Kim LLC highlighted the importance for South Korean ventures to have professional legal services when setting up business in India or going into a contract with Indian businesses due to vast differences in the legal system, laws and regulations governing business activities.
The event concluded with networking lunch and Q&A session. |
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