Under new leadership, Korean Chamber of Commerce KOCHAM to make it big in India this year
Representing 837 Korean companies based in India, KOCHAM India organized its annual assembly on Monday when Hyundai Motor India MD Unsoo Kim who took over as the new president.
NEW DELHI: The Korean Chamber of Commerce in India (KOCHAM India) has ambitious plans for the year 2023 to promote business bilateral trade between India and South Korea. The year 2023, which is also the 50th anniversary year of diplomatic relations between the two nations, would witness a series of business promotion events by KOCHAM, supported by the Korea International Trade Association (KITA), Korea Trade Investment Promotion Agency (KOTRA), and the Embassy of the Republic of Korea.
The announcement came during the first annual general assembly of KOCHAM India on Monday in New Delhi organised after the Covid-19 pandemic. Besides Korean Ambassador Chang Jae-bok, and Hyundai Motor India MD Unsoo Kim who took over KOCHAM as new president succeeding Kang Hyun Seok, VP of Samsung Electronics India. The official name of KOCHAM India is Korean Business Association in India, and it was founded in 2014.
KOCHAM India is a representative body of 837 Korean companies based in India, and these members are spread across in Delhi NCR 269, Mumbai 75, Pune 90, Chennai 211, Bengaluru 83, and other cities.
The meeting was also attended by the top representatives of KOCHAM, KITA, KOTRA, KOSMA, Federation of Korean Associations, KOSME, KIEP (Korea Institute for International Economic Policy), OKTA ( Overseas Korean Traders Association), KYC, Korea Business Network (Ernst & Young LLP), KB Kookmin Bank as well representatives of major Korean companies.
In his address, Ambassador Chang Jae-bok emphasized on a business-friendly embassy and support for the Korean companies in India from the Embassy. He said that the year 2023 that marks the 50th anniversary of Korea-India diplomatic relations would witness a series of events to promote bilateral relations including trade, commerce and Industry.
While talking to Asian Community News Network, Hyundai Motor India MD and new KOCHAM India president Unsoo Kim said that a plan would be made at the KOCHAM to promote Korea-India bilateral trade.
Young Ho Lee, Executive Director & Chief Trade Representative, KITA New Delhi Center, and Executive Vice Chairman of KOCHAM India said that this annual general assembly of KOCHAM was being organised three years after the global pandemic that struck in 2020.
“KITA New Delhi Center that acts as the secretariat for the KOCHAM India, with its 837 member companies, seeks to add fresh fuel to supporting the Korea-India businesses by various networking events in the occasion of G20-B20 and the 50th Anniversary of Korea-India diplomatic relations. I wishes to pass along the best wishes and his entreaties to both Indian and Korea business communities as well as the relevant government bodies for kind support,” Lee added.
Some of the key initiatives it is planning for the year 2023 include promotion of cooperative projects with the Indian government, universities and related organizations, exchange of economic missions between the two countries, finding of successful cases of companies entering the two countries, and
hosting Korea Night event with local Korean language departments and universities such as Korean language debate and K-pop song/dance competitions, etc.
Tae-Jin Park, Managing Director and CEO, Kia India is the Secretary General of KOCHAM India.
KOCHAM also has seven vice presidents that come from companies such as Samsung, KIA, Posco, Doosan, Hyosung, LG, and Seela Infratech.
On December 10, the India-Korea Friendship Day the South Korean Ambassador Chang Jae-bok had unveiled a special commemorative 50th anniversary logo at the Indo-Korean Friendship park in New Delhi. The logo truly captures the essence of friendship between India and South Korea and the significance of the historic occasion.
