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Korea is Emerging as an Important Economic Partner for India

Fast growing economic relations between Korea and India

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Feb 28, 2017: When India liberalized in 1990s, international companies were reluctant to invest in India. Korea was the first country which dared to invest in India when other countries were reluctant to take the economic risk of investing in the 1990s. Korea subsequently became the 4th largest investor during the 1990s.

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Bilateral economic relation between India and Korea is important for both India and Korea, Korea’s Trade Minister Joo Hyung-hwan had said last year, “Fostering close economic ties with India is the top priority for Korea.” Further, the Federation of Korean Industries (FKI) had said last September,  “Korea needs to deepen economic ties with India and Vietnam for its economic growth,” reported Korea Times

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Economic relations with India is important for Korea as its relation with its 3 important trading partners- US, Japan and China is declining. Relations with US are fast declining due to America’s policy of protectionism and the new policies of Trump. Historical issues with Japan and Japan’s economic stagnation, as well as Korea’s decision to deploy US missile system, has soured Korea’s relation with both these two countries, hence relations with all 3 countries have become precarious.

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In January last year, a Memorandum of Understanding (MoU) was signed between the India and Korea for establishing the platform “Korea Plus” a joint initiative of Ministry of Commerce and Industries of both countries, a platform established to promote and facilitate Korean investments.

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Few of the Korean startups are also doing business with Indian companies. Bangalore based real estate portal NoBroker had announced that it has raised $7 million (Rs 50 crore) in one round led by KTB Network, a Seoul-based VC firm in December last year. Softbank of South Korea had had led one round of funding for the Gurgaon-based True Balance, the CEO of True balance is Cheolwon (Charlie) Lee, a Korean.

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Prepared by Upama Bhattacharya. Twitter @Upama_myself

 

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“I feel I give back less than what I receive, and this disturbs me”,Amitabh Bachchan

I do know, and am intelligent enough to know my present standing and what I deserve. But when it exceeds that, I feel a discomfort.

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Amitabh Bachchan
The veteran actor was also lost in nostalgia as he recounted the old times. Pixabay

Megastar Amitabh Bachchan, who is in Bulgaria to shoot “Brahmastra”, spared a thought about the care and concern he gets wherever he goes. But he finds it disturbing that he feels he gives back less than he gets.

In a blog post from Bulgaria, where he is enjoying the sun, Amitabh wrote: “Filmmaking from my times has undergone substantial change… Hundreds of unit and crew work assiduously on projects these days, every little detail of the making and production is looked at with such a degree of importance and a liberty it astonishes me.

“I feel guilty at times at what is on offer from the unit at times… Their care and concern, their efforts to make everything so comfortable and pleasant, all with such alacrity and love. I do know, and am intelligent enough to know my present standing and what I deserve. But when it exceeds that, I feel a discomfort.

“I feel I give back less than what I receive, and this disturbs me.”

Amitabh Bachchan
There were times in the past when prominence was shown in much the same manner. Wikimedia commons

The veteran actor was also lost in nostalgia as he recounted the old times.

“There were times in the past when prominence was shown in much the same manner. Well not to the extent it is nowadays, and I felt maybe it was justifiable. But now with diminished presence, I feel it not right. I try hard to skip past it but it catches up .. as does most things in life,” he added.

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“Brahmastra” features Alia Bhatt an Ranbir Kapoor, with Nagarjuna cast in a special role. It is produced by Karan Johar and directed by Ayan Mukerji.

A trilogy, its first part will release on India’s Independence Day on August 15, 2019.(IANS)