Prime Minister Narendra Modi, who met South Korean President Park Geun-Hye here on the sidelines of the East Asia Summit, together reviewed the Strategic Partnership which had been upgraded to a Special Strategic Partnership during the his visit to South Korea last year.
President Park appreciated the Korea Plus programme initiated by Modi and said it would lead to further investments in India by Korean firms, External Affairs Ministry spokesperson Vikas Swarup said.
EXIM Banks of the two countries are discussing modalities for the utilisation of the package, Swarup said.
The two leaders agreed that their shared commitment to democracy and free market economy, and complementary strengths made India and South Korea ideal partners.
President Park complimented Modi, saying the profile of India was rising due to the Prime Minister's proactive leadership. She also complimented him on the success of India's economic development strategy, which had led to 7 per cent plus growth rate despite the global slowdown, Swarup said.
Disclaimer: No Business Standard Journalist was involved in creation of this content