India-south Korea

India, South Korea bonds to join FTSE Russell EMGB index starting Sept 2025

In March review, FTSE had deferred inclusion of Indian bonds in its index due to taxation, registration and settlement issues but acknowledged India's progress in the accessibility of the securities

South Korean ambassador lauds growing bilateral relations with India

Ambassador highlighted the crucial role of cultural exchanges in bringing the two nations closer

India, Korea discuss upgrading of trade pact, promoting investments

India and Korea on Saturday held discussions on upgrading the existing free trade agreement, balancing two-way commerce and promoting investments between the two countries. The issues were discussed during a meeting between Commerce and Industry Minister Piyush Goyal and his Korean counterpart Inkyo Cheong at Vientiane, Laos. "Deliberations were held on achieving more balanced trade, upgrading the India-Korea Comprehensive Economic Partnership Agreement (CEPA), promoting investments linked to job creation and addressing non-tariff barriers to further strengthen our economic ties," Goyal said in a post on social media platform X. The two countries are holding review meetings to upgrade the CEPA, which was operationalised in January 2010. So far, over 10 rounds of review talks have been held. The two countries have sought greater market access for certain products that are under the negative list of the agreement. No customs duty concessions are granted for the goods under this ...

India, S Korea share bill of lading electronically to promote trade: DGFT

India and South Korea have started sharing the bill of lading in an electronic transfer mode between the customs of both sides, a move that will help promote ease of doing business, a senior official said on Thursday. A bill of lading is a legal document that serves as a receipt, contract, and proof of ownership for shipped goods. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said as and when the system becomes a norm for all the countries, there will be no requirement for physical submission of records. "India in collaboration with South Korea has now started this concept of sharing the bill of lading in an electronic transfer mode between the customs of both sides," he said while addressing a session in the 'Deloitte Government Summit' here. South Korea is a key trading partner of India and both countries have implemented a comprehensive free trade agreement in 2010. India's exports to the country stood at USD 6.41 billion in 2023-23, while imports aggregated at

India fine tuning FTAs with countries to suit domestic industry: Prasada

India is revising FTAs with South Korea, Malaysia and various other ASEAN countries to benefit the domestic industries, Union Minister of State for Ministry of Commerce and Industry Jitin Prasada said on Monday. At the 64th annual session of ACMA (Automotive Component Manufacturers Association) here, he noted that the free trade agreements (FTAs) with the UK and the European Union are being spearheaded by Prime Minister Narendra Modi. "It will play a great role for the auto components industry," the minister said. He further said: "We are also revising and reworking our FTAs with Korea, with Malaysia, with ASEAN countries, which will be fine-tuned to the demands of our industry." Prasada also urged the auto components industry to increase investment in R&D activities. "We are not investing enough in R&D, I believe this is 1 per cent of the revenue that is being invested so this is very crucial," he noted. He also emphasised the importance of boosting exports, reducing import ..

Seoul welcomes Super 30 famed, Ambassador of Korean Tourism Anand Kumar

The function, where Kumar was felicitated took place at the Korea Tourism Organisation (KTO) headquarters in Segye-ro, Wonju-si, Gangwon State on August 23

South Korea seeks to lower inheritance tax in first revision since 2000

High inheritance taxes have been cited by analysts as a factor behind the "Korea discount", which refers to South Korean firms' comparatively lower valuations.

India-Korea to hold next round of FTA review meeting from Jul 17 in Seoul

With talks to upgrade the existing India-Korea free trade agreement (FTA) moving forward, senior officials of both countries will hold the next round of negotiations from Wednesday in Seoul, an official said. The agreement, dubbed as comprehensive economic partnership agreement (CEPA), was operationalised in January 2010. So far, 10 rounds of review talks have been concluded. The Indian team "will visit Seoul from July 17-19" for the next round of review meetings, the official added. "In the 11th round, both the sides would discuss the broad contours for closing the deal," the official said, adding that Korea is keen to conclude the negotiations this year. The two countries have sought greater market access for certain products, which are under the negative list of the agreement. No customs duty concessions are granted for the goods under this list. The Department of Commerce has engaged with different ministries, including heavy industries, steel, and chemicals, to prepare the of

South Korea trade: India did better on manufactured goods, grew at 6.4%

Electronic goods was among the fastest growing segment among major manufactured goods imported from South Korea

India, S Korea to collaborate in critical tech, semiconductors: Jaishankar

India wants to expand its strategic partnership with South Korea into new areas like critical and emerging technologies, semiconductors and green hydrogen to make the bilateral ties more contemporary, External Affairs Minister S Jaishankar said on Wednesday. Jaishankar's remarks came as he co-chaired the 10th India-South Korea Joint Commission Meeting (JCM) with his counterpart Cho Tae-yul. In his opening remarks, Jaishankar said that during Prime Minister Narendra Modi's visit to South Korea in 2015 the bilateral relations were elevated to a special strategic partnership. "It is important that we live up to that. We have grown from strength to strength in the years that have passed. We have become truly important partners for each other and our bilateral exchanges, trade, investments, defence and science and technology cooperation have all seen a steady growth while keeping up the momentum in the traditional areas of cooperation," the minister said. "We would be very much interest

India seeks greater market access for steel, rice, shrimp from S Korea

India has sought greater market access for certain products such as steel, rice, and shrimp from South Korea with a view to boost exports of these goods, an official said. These are part of the negotiations, which are underway, for the upgradation of the existing free trade agreement between the two countries, which is officially dubbed as comprehensive economic partnership agreement (CEPA). The agreement was operationalised in January 2010. The 10th round of upgradation talks are underway here. "We are asking for greater market access for products such as steel, rice and shrimp," the official said. In the meeting, India has flagged issues over Korean firms not buying Indian steel. "Korean firms in India also place orders from their local firms in Korea, so this is a double whammy for Indian companies. The Korean side has asked for an increase in price competitiveness here," the official added. On rice, there is a tariff rate quota of five lakh tonnes in Korea. Under this, they h

S Korean Oppn leader released from hospital a week after being stabbed

South Korea's main opposition leader expressed hopes for an end of politics of hatred, as he left a hospital Wednesday about a week after he was stabbed in the neck by a knife-wielding man who approached while asking for his autograph. The suspect's motive isn't known, but he told police that he attempted to kill Lee Jae-myung, leader of the liberal Democratic Party. The shocking assault came as political strife was deepening in South Korea ahead of its parliamentary elections in April. Our respected and dear citizens, I feel sorry for causing concerns for you and I'd like to say thank you. Our people saved me, Lee said in front of Seoul National University Hospital, as his supporters shouted his name. Lee said he hopes the attack will serve as a chance to end politics of hatred and politics of confrontation and return to politics of mutual respect and co-existence. The attack, which happened during his visit to the southeastern city of Busan on Jan. 2, left Lee, 59, bleeding and .

South Korea launches 'workation' visa for foreigners: All you must know

South Korea 'workation' visa: Foreign nationals with annual income twice as much as South Korea's per capita gross national income will be eligible to apply for the visa

No plan to expand laptop, personal computer import curbs: India tells WTO

India said that industry experts were consulted prior to the notification issued on August 3, and a transition period of three months was provided till October 31

Zydus, Daewoong collaborate to co-develop, market Leuprolide Acetate

Daewoong will leverage its proprietary technology to produce Leuprolide Acetate for Depot Suspension in its manufacturing facilities located in Osong, South Korea

PM extends wishes to S Korean prez as both nations celebrate 50 yrs of ties

He further emphasised that India and South Korea have mutual respect, shared values and growing partnerships.

Biden to host trilateral summit with Japan, S Korea amid challenges

US President Joe Biden is using the presidential retreat at 'Camp David' by hosting the first-ever trilateral summit with Japan and South Korea in the face of shared security challenges, CNN reported.President Joe Biden is using the presidential retreat at Camp David to help with a diplomatic mission - hosting the first-ever trilateral summit with Japan and South Korea, two countries that are putting aside a fraught history in the face of shared security challenges.Biden's summit with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol is meant to serve as a show of force as the countries grapple with persistent provocative behaviour from North Korea.It also comes as President Biden has sought to deepen ties with allies in the Indo-Pacific amid concerns about a rising China.On Friday, Biden will host the leaders at the secluded getaway in the Catoctin Mountains in Maryland where they are set to deepen defence, technology and economic cooperation between the .

Govt reviewing FTAs with ASEAN, Korea: MoS Patel informed Parliament

The government is closely monitoring all the free trade agreements which it has signed and based on stakeholder consultations, existing FTAs with ASEAN and Korea are being reviewed, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Anupriya Patel said the government is negotiating FTAs with the European Union, the UK, European Free Trade Association (EFTA) and Canada. These negotiations or its review are a long-drawn process and the timeline for completion of such negotiations cannot be predicted since the parties to the negotiations are required to agree to the outcome, she said. "India has signed 13 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners...The government is closely monitoring these FTAs and based on stakeholder consultations, the experience and assessments thereof, the government is in the process of reviewing its existing FTAs with ASEAN and Korea," the

India asking for renegotiation of FTAs with Japan, S.Korea -trade minister

Goyal also termed India's free trade agreement with the Association of Southeast Asian Nations (ASEAN) "ill-conceived" and "unfair" to the Indian industry

Sitharaman meets Korean FM, highlights investment opportunities in India

Finance minister Nirmala Sitharaman on Thursday highlighted greater opportunities in India for investment in manufacturing, food processing and marine resources in a bilateral meeting with her South Korean counterpart. The minister met Choo Kyung-ho, Deputy PM & Minister of Economy and Finance, South Korea, on the sidelines of 56th ADB Annual Meeting here, and also invited Korea Investment Corporation (KIC) and other investors to take forward investment in India's infrastructure sector. During the meeting, Sitharaman also highlighted India's enabling policy framework for e-vehicles and green hydrogen sectors for further attracting investment in India with the engagement of the Korean government. "FM Smt. @nsitharaman emphasised on greater opportunities in India for #investments in #manufacturing, #RenewableEnergy, #infrastructure, #pharmaceuticals, #FoodProcessing, including #marine resources, among other sectors," a finance ministry tweet said. Sitharaman further informed her ...