Business

India, South Korea sign MoUs in key areas of trade, investment, security

Updated : February 22, 2019 11:59 AM IST

Prime Minister Narendra Modi said that South Korea is an important partner in India's economic transformation

Both leaders held "constructive" talks on Friday on enhancing bilateral cooperation

India and South Korea signed a number of agreements, including in the areas of trade, cultural and scientific and technological cooperation, during Prime Minister Narendra Modi's visit to South Korea. Modi's trip followed the visit of South Korean President Moon Jae-in to India last year, when both the countries agreed to further strengthen their relationship.

Modi, who is on a two-day visit to South Korea to strengthen India's strategic ties with the country, was earlier accorded an official reception at the Blue House, the executive office and official residence of the South Korean President Moon Jae-in.

Primer Minister Narendra Modi and South Korean President Moon Jae-in held "constructive" talks on Friday on enhancing bilateral cooperation in key areas including trade, investment, defence and security. Addressing the media after the talks with President Moon, Prime Minister Modi said that South Korea is an important partner in India's economic transformation.

Here is the list of the memorandum of understandings (MoUs) signed between India and South Korea:

Release of commemorative postal stamp on Queen Hur:

The countries have agreed to release a joint stamp commemorating the legendary Princess Suriratna who went to Korea in AD 48 and married King Kim-Suro and whom a large number of Koreans trace their ancestry to.

Extension of Korea Plus:

Both countries have agreed to continue operations of Korea Plus, i.e. an organization that facilitates investments by Korean companies in India.

Start-up Cooperation:

Both countries will co-operate with each other in order to promote collaboration among Start-ups and to set up of a Korea Start-up Centre (KSC) in India.

Korean National Police Agency and MHA:

The MoU aims to enhance cooperation between the law enforcement agencies of the two countries and aim to combat trans-border and international crimes.

Korean Broadcasting System (KBS) and Prasar Bharti :

The understanding between the two parties will facilitate the broadcast of DD India Channel in South Korea and KBS World Channel in India.

National Highways Authority of India and Korea Expressway Corporation:

The understanding aims to promote bilateral cooperation in road and transport infrastructure development projects of India. It will also facilitate technical and institutional knowledge exchange in the field of road and transport between the countries.

With inputs from agencies