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Current Affairs

India, South Korea ink six agreements to enhance cooperation

Date: 23 February 2019 Tags: India & World

India and South Korea have signed six agreements/MoUs to enhance bilateral cooperation in key areas, including infrastructure development, media, start-ups and combating trans-border and international crime.

They were singed during Prime Minister Narendra Modi's visit to South Korea on the invitation of President Moon Jae-in. This was his second visit to South Korea since 2015 and second summit meeting with South Korean President.

Signed Agreements are

  • MoU on release of commemorative postal stamp on Queen Hur Hwang-ok (Suriratna): She was Ayodhya’s legendary Princess Suriratna, who had traveled to Korea in 48 CE and married Korean King Suro.
  • Large number of Koreans trace their ancestry to this legendary princess.
  • MOU on Extension of Korea Plus: It will continue operations of Korea Plus- an organization that facilitates investments by South Korean companies in India.
  • It was operationalized in June 2016 and comprises representatives from Ministry of Industry, Trade and Energy of South Korea, Korea Trade Investment and Promotion Agency (KOTRA) and Invest India.
  • MoU on Start-up Cooperation: It aims to promote collaboration among Start-ups of both countries,
  • It also seeks to set up of Korea Start-up Centre (KSC) in India to commercialize ideas, technologies and designs of Startup companies.
  • MoU on Combating Transnational Crime and Developing Police Cooperation:  It was signed between Korean National Police Agency and Ministry of Home Affairs.
  • It aims to enhance cooperation between law enforcement agencies of two countries and combat trans-border and international crimes.
  • MoU on Cooperation in Broadcasting: It was signed between Korean Broadcasting System (KBS) and Prasar Bharti.
  • It seeks to facilitate broadcast of DD India Channel in South Korea and KBS World Channel in India.
  • MoU on Cooperation in Infrastructure: It was signed between National Highways Authority of India (NHAI) and Korea Expressway Corporation.
  • It aims to promote bilateral cooperation in road and transport infrastructure development projects of India.
  • It also seeks to facilitate technical and institutional knowledge exchange in the field of road and transport.