Korea to promote economic cooperation with Odisha in multiple sectors, push CSR activities

Bhubaneswar. November 2, 2023: In its bid to promote economic cooperation between the state of Odisha and Korea in multiple sectors, a high-level Korean mission, called Team Korea, comprising representatives of the Embassy of the Republic of Korea, Korea Trade-Investment Promotion Agency (KOTRA), Korea SMEs and Startups Agency (KOSME), Korea Institute for International Economy Policy (KIEP), KOSMA – Korean Small & Medium Enterprises Association in India, K-SURE- Korea Trade Insurance Corp., and Korea Plus of Invest India visited Bhubaneswar, Odisha on Thursday.

The Team Korea interacted with Industry department of Odisha government.

KOTRA in collaboration with The Embassy of the Republic of Korea, and IPICOL as industry partners, hosted the 2023 Korea-India CSR-Economic Cooperation Seminar in Bhubaneswar, Odisha on Thursday. Bishnupada Sethi, Principal Secretary, Social Security and Empowerment of Persons with Disabilities (SSEPD) Department, Government of Odisha, Bhupendra Singh Poonia, Managing Director, IDCO & IPICOL (Industrial Promotion and Investment Corporation of Odisha Limited), Md Sadique Alam, Director of Industries, Lingaraj Panda, Director, IDCS & Social Welfare along with other state government officials were present during the event held today.

According to the KOTRA officials, the primary objective of this event was to foster mutual economic cooperation between the state of Odisha and Korea. It was a significant milestone commemorating the Golden Jubilee, marking 50 years of the bilateral relationship between India and Korea.

The Embassy of the Republic of Korea, along with Team Korea members, plans to share the attractive features of Odisha with Korean companies in India and Korea. “I am confident that all the industries that the Odisha government is focusing on, including IT, renewables, decarbonization, electric vehicles, aviation, etc. will flourish,” said Sungjoong CHO, the Commercial Counsellor at the Korean Embassy, in New Delhi. “We look forward to witnessing Odisha become the most developed and dynamic state of India. My delegation will actively promote what we see, hear and feel during our three-day visit,” he added.

In a corporate social responsibility initiative, Team Korea’s partners donated various Korean products, including small blankets, socks, and toothbrushes for kids. Atomy India, the Indian subsidiary of a Korean company also donated its product to the underprivileged community in Odisha on this occasion.

While calling upon Korean companies to invest in Odisha, Bhupendra Singh Poonia, MD, IDCO & IPICOL said that the state ranked high on the “ease of doing business’ in India, and offered a slew of incentives to industry. “Korean companies can consider many emerging sectors such as information technology, and green hydrogen. Located on the eastern coast of the Bay of Bengal, Odisha has ample power and water availability for the green hydrogen industry,” he added.