South Korea keen on investing in emerging sectors in Assam, its high-level delegation visits Guwahati
South Korea is exploring investment opportunities beyond conventional sectors like automotive, electronics, and chemical.
GUWAHATI (Assam)South Korea on Thursday expressed its interest in investing in healthcare, food processing, infrastructure, and tourism sectors in Assam, and bringing Korean companies to this region of India, which it says has huge untapped potential.
A high-level South Korean delegation led by the Embassy of the Republic of Korea, and the Korean Trade-Investment Promotion Agency (KOTRA) visited Guwahati and met 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 including Kwang Seok Yang, the commercial attache; Joonhwa Bin, Managing Director, South Asia Region Korean Trade-Investment Promotion Agency (KOTRA), Hee-chul Jung, Chief Representative (Director), Korea International Trade Association (KITA), and Secretary-General, Korea Chamber of Commerce and Industry in India (KOCHAM), and others from India- Korea Business Cooperation Center, India-Korea Startup Center, and K-Sure.
The Korean delegation 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.
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 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 .”
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.”
Hee-chul Jung, Chief Representative (Director), KITA, India, and Secretary-General, KOCHAM, said, “This mission was primarily a CSR activity of public sector and our counterpart this time were health department officials. The government of Assam showed interest in Korean medical equipment and hospital management companies.”
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.
