India-Korea Trade and Business Relation

Korea is at the heart of Northeast Asia, one of the world’s top three economic regions & a global innovation leader.

There are around 500+ Korean companies who operate in India & in 2016-17 India & Korea had a Bilateral Trade of USD 16.8 Billion.

In 2015, Korea & India signed the framework of co-operation in the field of road transport & Highway & signed a MoU for co-operation in the fields of Maritime Transport & Logistics & also signed Mou for co-operation in electric power development & New Energy Industries.

Korea & India signed a MoU for co-operation & Mutual assistance in the development of parts in 2016 & Hyosung Co-operation inks Mou with Maharashtra with Investment of USD 100 Million.

Korea’s national investment promotion agency was established as part of the Korea Trade-Investment Promotion Agency (KOTRA) to support the entry and establishment of foreign businesses in Korea.

India-South Korea Bilateral Trade in 2017 reached $20 Billion, said Prime Minister Narendra Modi

Korea: Business-friendly investment environment:

Korea ranked the 4th easiest place in the world to do business & provides an ideal environment for business success, world-class infrastructure, intellectual property rights protection, high quality of life, FDI-friendly government policies, one-stop investment services and more.

South Korea’s Top 10 Major Export Companies:

  1. Samsung Electronics (semiconductors)
  2. Hyundai Motor (car/truck makers)
  3. Hanwha Corp (product trading, explosives)
  4. SK Holdings (oil, gas)
  5. Posco (iron, steel)
  6. KIA Motors (car/truck makers)
  7. Hyundai Heavy Industries (heavy equipment)
  8. Hyundai Mobis (automotive parts)
  9. LG Electronics (consumer electronics)
  10. SK Innovation (iron, steel)

Hyundai operates the world’s largest integrated Automobile manufacturing facility:

It is the 2nd largest Automobile manufacturer in India who Exports 150000+ ‘Made in India’ units to over 87 countries.

  • In India, Samsung opens 15 smart Healthcare centres in Tamil Nadu & about 70000 Samsung phones & 10000 Samsung televisions sold in      India every day.
  • Korea has a well-established system for foreign direct investment and provides various incentives to induce investment & around 16,000 foreign companies are doing businesses in Korea in a variety of fields including finance, technology, motor vehicles and automotive parts, and medical service.

All material, information, data, images or content in this book is published and managed by Department of Industrial Policy & Promotion & Government of India. Crescendo Worldwide is not liable for any errors in the same.

Written By-  Abhilasha Kumari

(Market Report & Research Analyst)