South Korea looks for investment opportunities in Himachal

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A high-level South Korean trade delegation, comprising heads of its apex trade and industry organisations, including the embassy, visited the Himachal Pradesh capital on Thursday to explore possibilities of investment and collaborations in upcoming sectors.

The delegation met Industries Department Director Rakesh Kumar Prajapati and other key officials.

Both sides discussed economic and bilateral cooperation between Korea and the Himachal Pradesh government. The Korean delegation expressed interest in electronics, semiconductor manufacturing, EV components, pharmaceuticals, and medical devices in the state which has a huge potential for Korean companies.

They also agreed that several sectors such as renewable energy, power, agro and food processing and tourism might be opportunities for collaboration between companies from Korea and Himachal Pradesh.

Led by Kwang Seok Yang, Commercial Attach, Embassy of the Republic of Korea, the delegation comprised heads of Korea Plus, Invest India, KOTRA (Korea Trade-Investment Promotion Agency), Korea International Trade Association (KITA), Korea SMEs and Startups Agency (KOSME), Korea Trade Insurance Corporation (K-Sure) and Chungcheongnam-Do Economic Promotion Agency (CEPA).

According to the delegation, KOTRA will share the features of Himachal Pradesh with Korean companies based in India as well as in Korea to attract them to this promising and investment-friendly state.

“I hope, post this visit multiple opportunities open up in Himachal Pradesh,” said Kwang Seok Yang, the Commercial Attache, Korean Embassy, New Delhi.

A state-owned agency, KOTRA is the apex foreign trade promotion agency of the Korean government with offices across the globe.

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