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:
- 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.|
- 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