South Korea keen on making investment in emerging sectors in Assam

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-High-level delegation visits Guwahati, discussed the possibility of collaboration with Assam Govt

-South Korean delegation explores investment opportunities in Healthcare, Pharmaceuticals, Food processing, and Tourism sectors in Assam

Guwahati (Assam): South Korea has expressed its interest in investing in healthcare, food processing, infrastructure, and tourism sectors in Assam, and bringing Korean companies to this region of India.

South Korea keen on making investment in emerging sectors in Assam 2

A high-level South Korean delegation led by the Embassy of the Republic of Korea, and Korean Trade-Investment Promotion Agency (KOTRA) today visited Guwahati and met Mr. Manvendra Pratap Singh, Secretary, Commerce and Industry Department, Assam in Guwahati to explore the feasibility of investment in multiple sectors in the state.

The South Korean delegation comprised of top officials of the Embassy of the Republic of Korea, Korean Trade-Investment Promotion Agency (KOTRA), India- Korea Business Cooperation Center, India-Korea Startup Center, K-Sure, and Korea International Trade Association (KITA), and Korea Chamber of Commerce and Industry in India (KOCHAM).

The delegation discussed economic and bilateral cooperation between Korea and the Assam Government with the Korean officials expressing keen interest in healthcare and other projects in the State as it has huge potential for health tech, which is largely untapped.

The two sides also explored the possibility of collaboration between the Korean companies and the state in several other sectors such as food processing, infrastructure, and tourism. The Korean trade delegation promised to share the investment opportunity available in Assam with the Korean companies based in India as well as in Korea.

According to Mr. Kwang Seok Yang, the commercial attache, Embassy of the Republic of Korea, New Delhi, “Korea has invested mainly in automotive, electronics, and chemical sectors since the 1990s and now intends to expand its interest to various industries such as pharmaceutical, Organic farming, food processing, and tourism. I hope, post this visit multiple opportunities open up in Assam .”South Korea keen on making investment in emerging sectors in Assam 3

Mr. Joonhwa Bin, the Managing Director of KOTRA South Asia Region said “Korean companies tend to be bold and try to be pre-emptive, so Assam can be one of the favourable destinations considering its various potentials. Based on this, we shall explore multiple opportunities with Korean companies operating in areas like infrastructure, health care, food processing, Organic Farming, and other sectors. We can leverage each other’s strength for mutual benefit.”

The Korean mission also donated Korean-made protection masks and thermometers to the Health & Family Welfare Department, Govt. of Assam. Among them, Korean made N95 Masks, PPE Kits, Infra thermometers, and Sanitisers.

About KOTRA and India-Korea Business Cooperation Center  :

Korea Trade-Investment Promotion Agency (KOTRA) is the Commercial Section of the Embassy of the Republic of Korea and under The Korean Ministry of Trade, Industry & Energy. It is Korean Government’s Trade and Investment Promotion Organisation. KOTRA is a Gateway to do business with Korea, and World’s Global Business Partner. India-Korea Business Cooperation Center develops investment strategies for Korean companies to do business in India. It works under KOTRA in India.

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