New Delhi, June 18 (IANS) In a bid to promote and facilitate South Korean investments in India, India and South Korea on Saturday launched Korea Plus initiative here, an official statement said.
The special initiative was launched by South Korean Trade, Industry and Energy Minister Joo Hyunghwan and Indian Commerce and Industry Minister Nirmala Sitharaman.
Korea Plus, operationalised on Saturday, comprises a representative from the Korean Ministry of Industry, Trade and Energy and also representative from Korea Trade Investment and Promotion Agency (KOTRA) and three representatives from Invest India.
The mandate of the initiative covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time, looking into issues faced by Korean companies doing business in India and policy advocacy to the Indian government on their behalf, a statement said.
Korea Plus will act as a mediator in arranging meetings, assisting in public relations and research/evaluation, provide information and counselling in regard to Korean companies’ investing in India.
An MOU for establishing the initiative was earlier signed between Korea government, Invest India, the National Investment Promotion and Facilitation Agency of India in January 2016.