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Home › Press Release and Events › Media Report: Prime Minister Modi says "We will actively help Korean firms enter India" (JoongAng...
Media Report: Prime Minister Modi says "We will actively help Korean firms enter India" (JoongAng Ilbo)


India's Prime Minister Narendra Modi called for active investment from South Korean companies when he visited South Korea Pavilion at the exhibition centre of the Make In India week held in Mumbai, India on February 13. PM Modi said that "I'm well aware that Korea is contributing to 'Make in India.' I'm looking forward to more investment from Korea." He also showed his will to actively help Korean firms which plan to enter India. 'Make in India' is an initiative launched by PM Modi in September 2014 after he took office. The initiative aims to boost the manufacturing industry in India by encouraging foreign companies to set up manufacturing plants in the country. PM Modi looked around the booths of several Korean companies, including Doosan Heavy Industries & Construction which has recently won a 350 billion won contract to build a thermal power plant in Bihar, a state in northeastern India and Hyundai Motor which has obtained the second largest market share in the passenger vehicle segment in India after it advanced into the county in 1996.

South Korea Pavilion was set up at the main exhibition hall, along with India's largest companies Tata and Reliance. Korean companies which participated in the exhibition include five SMEs and three big firms. Woosim Systems, which holds key technologies in small computing devices including mobile printers and barcode printers, is currently preparing to establish its production facility and sales subsidiary in India. Lee Il-bok, CEO of Woosim, said that "We will use this exhibition as an opportunity to promote our corporate image and products in India." Total Engineering, a manufacturer of special valves for industrial purposes, is seeking to tap into the Indian market by joining hands with Doosan Heavy Industries & Construction. "Korea's outstanding manufacturing companies can use India as a bridge-head for entering Africa or Europe," said Choi Dong-seok, Regional Chief Director General for South Asia at KOTRA. "We will continuously offer assistance to expand economic cooperation with India and to encourage Korean companies to enter the country."

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