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Overview of Prime Minister Narendra Modi’s Two day Visit to South Korea

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On February 21 2019, Prime Minister Narendra Modi embarked on a 2-day visit to South Korea or Republic of Korea(ROK) on the invitation of President Moon Jae-in.This was his 2nd Visit to South Korea,Previously he visited South Korea in the year 2015 .He was received by Indian Community in South Korea.

India-South Korea Business Symposium in Seoul:
India-South Korea Business Symposium

  • Prime Minister Narendra Modi addressed the India-South Korea Business Symposium in Seoul and he launched the India-Korea Startup Hub.
  • This startup hub will serve as an one-stop platform to bring Indian and Korean startup ecosystems closer and to facilitate joint innovation between the two economies.
  • The startup hub is launched based on the joint statement signed between the Korea Trade-Investment Promotion Agency (KOTRA) and Invest India.
  • Startup Grand Challenge’ was also launched,which focus on the issues related to cyber threat, analytics & rural healthcare.The State Bank of India(SBI) & Mahindra Rise will provide mentoring, pilot opportunities & financial support to the winners of this challenge.

Indian Chamber of Commerce in Korea(ICCK) and India Forum organizes joint seminar in Seoul:

  • The seminar was organized with respect to the South Korean President Moon Jae-in’s “New Southern Policy” (NSP) which strengthens the country’s economic and strategic relations with India and 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.

Highlights of the visit:

  • Prime Minister, Shri Narendra Modi, unveiled a bust of Mahatma Gandhi at Yonsei University in Seoul.
  • PM gifts a Bodhi tree sapling to Mayor of Gimhae Heo Seong gon as a mark of close ties between the South Korea and India.
  • Prime Minister Narendra Modi was conferred with Seoul peace prize in the 14th Edition of Seoul Peace Prize Ceremony.
  • Prime Minister Narendra Modi paid tribute to fallen soldiers at the National Cemetery, including those who died in the Korean War.

India and South Korea signed 6 MoU’s in South Korea:

  • MoU on commercialising ideas, technologies and designs of start-up companies.
  • MoU to continue operations of Korea Plus organisation that facilitates investments by Korean companies in India.
  • MoU on releasing a joint stamp, commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary Princess of Ayodhya.
S.No MoU’s Signed on Behalf of India MoU’s Signed on Behalf of South Korea Field
1. Ministry of Home Affairs Korean National Police Agency Law enforcement agencies of the two countries and combat trans-border and international crimes.
2. Prasar Bharti Korean Broadcasting System (KBS) To Broadcast DD India Channel in South Korea and KBS World Channel in India
3. National Highways Authority of India Korea Expressway Corporation To promote bilateral cooperation in road and transport infrastructure development projects of India.

Highlights of Prime Minister’s Speech:

  • Korea specific facilitation cell “Korea Plus” under ‘Invest India’ was launched after his visit to Korea in 2015.
  • South Korea too has unveiled a program to spend 4 billion Dollars by 2020 in a bid to boost startups.

About South Korea:
♦ Capital – Seoul
♦ Currency – South Korean won
♦ President – Moon Jae-in