South Korea keen on investing in Assam

South Korea on Thursday expressed interest in investing in emerging sectors such as healthcare, food processing, infrastructure and tourism in Assam, according to a statement.

A high-level South Korean delegation comprising officials of its embassy in India and Korean Trade-Investment Promotion Agency visited Guwahati and met Assam Commerce and Industry Secretary Manvendra Pratap Singh to explore the feasibility of investment in various sectors in the state, it said.

The members of the delegation and the secretary discussed economic issues and bilateral cooperation between the East Asian country and the Assam government with the Korean officials expressing interest in healthcare in the state as it has huge potential for health-related technology, which is largely untapped.

They also explored the possibility of collaboration among the Korean companies and the state in several other sectors such as food processing, infrastructure and tourism, the statement issued by the Korean Embassy said.

The trade delegation assured Singh of sharing the investment opportunity available in Assam with the Korean companies based in India as well as in Korea.

Apart from officials of the South Korean Embassy and the KOTRA, the team comprises representatives of India-Korea Business Cooperation Centre, India-Korea Startup Centre, Korea International Trade Association and Korea Chamber of Commerce and Industry in India.

“Korea has invested mainly in automotive, electronics, and chemical sectors since the 1990s and now intends to expand its interest to various industries such as pharmaceutical, organic farming, food processing and tourism. I hope, post this visit multiple opportunities open up in Assam," said Kwang Seok Yang, the commercial attache in the Korea Embassy, New Delhi.

KOTRA South Asia Region Managing Director Joonhwa Bin said Assam can be one of the favourable destinations considering its various potentials.

"We shall explore multiple opportunities with Korean companies operating in areas like infrastructure, healthcare, food processing, organic farming and other sectors. We can leverage each other's strength for mutual benefit," Bin said.

KOTRA is the Korean government’s trade and investment promotion agency. India-Korea Business Cooperation Centre, which works under KOTRA in India, develops investment strategies for Korean companies to do business in the country, the statement said.

The members of the delegation also donated Korean-made N95 masks, PPE Kits, Infrared thermometers and sanitiser to the Assam Health and Family Welfare Department. 

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