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Korea Plus

Korea Plus is a one-stop-assistance platform for Korean companies to explore and materialize their entry plans to India.

For any information on investing in India or any other query, reach out to us at:

koreaplus@investindia.org.in

Our Existing Relations

India and The Republic of Korea developed strong diplomatic and economic relations during the 21st century as opening up of the Indian economy in 1991 coincided with Korea’s search for new avenues to expand. Bilateral ties between the two nations received a significant boost with the visit of Prime Minister Narendra Modi to Korea in 2015. The two nations decided to commence negotiations to amend Comprehensive Economic Partnership Agreement (CEPA) and strengthen cooperation in sectors such as energy, electronics and shipbuilding.

Some Major Korean Investors:

Highlights

  • Bilateral trade between India and Korea touched USD 19 bn in 2018.
  • Korea is the 16th largest investor in India, investing USD 2.5 bn during 2000-17.
  • Korean EXIM Bank signed an MoU with EXIM Bank of India in June 2017, to provide USD 9 bn credit for India’s infrastructural development.

Recent Investments

  • March 2018

    16 Korean companies signed MoU with the Government of Andhra Pradesh to set up auto ancillary units, which would cumulatively invest USD 737 mn and create 6,580 jobs. The auto giant Kia Motors is setting up its first car manufacturing plant in India in Anantapur district of Andhra Pradesh with an investment of USD 1.1 bn.

  • January 2018

    Hyundai plans to invest over USD 1 bn in India by 2020 on new products, development of powertrain and setting up of a new office building.

  • October 2017

    Youngone Corporation, a leading Korean textile firm and largest foreign investor in Bangladesh, signed MoU with Telangana Government to establish a USD 300 mn factory in Warangal, which would create 10,000 jobs.

  • June 2017

    Samsung announced USD 756 mn investment to expand their Noida facility on additional 35 acre of land for manufacturing smartphones and consumer electronics.

Korea Plus

Korea Plus is a bilateral initiative between the Republic of India and the Republic of Korea to promote, facilitate and retain Korean investments in India. It is envisaged as the first reference point for Korean Investors in India.

Key Functions

Business planning and advisory
  • Opportunity assessment
  • Policy and incentive advisory
  • Location assessment
Strategy and implementation
  • Market entry strategy
  • JV and strategic partner research
  • Approvals and compliance advisory
Long-term partnership
  • Issue redressal support
  • Expansion advisory
  • Policy impact analysis

Team Advantages

  • Nodal agency between investors and government
  • Joint team of investment experts from both countries
  • Business Advisory and End-to-end facilitation
  • One-stop-agency for Korean Investors

Our Team Members

Ko Junseok
Jeon Byungju
Choi Byunhgee
Sandeep Behal
Gaurav Sishodia
Aakriti Jain
Iqbaljeet Singh Bains
Harshita Madan

Korea Plus is envisaged as the first reference point for Korean Investors in India. Korea Plus has facilitated more than 100 Korean Investors in a short span of about two years. It acts as a partner throughout the investment cycle of Korean companies. This shows our commitment towards welcoming Korean people and companies; ideas and investments.

Narendra Modi, Hon'ble P.M. of India at IKBS, 2018

Korea Plus has been a game-changer for our effort to promote India as an essential part of the international strategy of any Korean business house—from conglomerates to SMEs. Until the establishment of Korea Plus, we faced great difficulty in managing even the basics of long-distance facilitation for business visitors after they left our doorstep. Today, with Korea Plus, we have the confidence that our Korean business guests will be given the best possible support to persuade them that India is indeed an inevitable destination for their business.

H.E. Vikram Doraiswami, Ambassador of India to Republic of Korea

We along with the entire team, wish to express our sincere gratitude for all the support and assistance extended to us by you in connection with our feasibility study on investing and setting up its first manufacturing unit in India. We further wish to express our appreciation for the assistance provided by Korea Plus which has been helpful for us in making an informed decision.

One of World’s Leading Korean Automobile Manufacturer

Success Stories

Korea’s leading passenger vehicle manufacturer setting up unit in India
Korea’s leading passenger vehicle manufacturer setting up unit in India

The company is South Korea's second-largest automobile manufacturer and manufactures passenger cars, trucks, sports utility vehicles, light commercial vehicles and other…

World’s leading spandex manufacturer setting up plant in India
World’s leading spandex manufacturer setting up plant in India

The South Korean diversified industrial conglomerate, founded in 1966, is one of world’s leading manufacturer of spandex and has a presence in over 27 countries. The…

Korea’s leading auto-component manufacturer setting up its second unit in India
Korea’s leading auto-component manufacturer setting up its second unit in India

The company is one of the leading Korean auto-component manufacturer and supplier to Maruti and Hyundai in India.

Project Details

The company…

Sectoral Synergies

Automobile

Highlights

3rd India to be 3rd largest automotive market by volume by 2026

5th Korea is the 5th largest auto-parts industry

40% India’s share of global R&D in the sector

Electronics

Highlights

$ 122 bn Production volume recorded by Korean electronics industry in 2017

$ 400 bn Value of Indian electronics market by 2025

Textile

Highlights

$ 223 bn Value of Indian textile exports by 2021

85% Level of technology usage in Korean textile industry by 2020

$ 300 bn Indian textile exports by 2024

Chemicals

Highlights

3rd India is 3rd largest consumer of polymers in the world

5th Korea 5th largest specialty chemicals industry in the world

$ 403 bn Value of Indian chemical industry by 2025

Food Processing

Highlights

$ 33 bn Investment in Indian food processing sector by 2020

127 Identified agro-climatic zones in India

Latest News

Jul 12, 2018 Gujarat government signs MoU with Korean investment agency
Jul 10, 2018 India, South Korea aim to more than double trade to $50 billion
Jul 10, 2018 India becomes world's 2nd largest phone maker on Make-in-India initiative: PM Modi

If you are considering India, consider us your team

For any further information on investing in India, reach out to us at:

koreaplus@investindia.org.in

Indo-Korean Relations

  • The bilateral consular relations established between India and The Republic of Korea in 1962, were upgraded with Ambassador appointment in 1973. The year 2018 marks 45 years of successful diplomatic ties between the two nations. 

  • Both countries have made great strides in their relations in recent years, spurred by a significant convergence of interests, mutual goodwill and high-level exchanges.

  • With the visit of Indian PM Narendra Modi to Korea in May 2015, the bilateral relations were upgraded to ‘Special Strategic Partnership’. In the ‘Joint Statement for Special Strategic Partnership’, the Indian Prime Minister and the Korean President agreed to establish a 2+2 consultation mechanism at Secretary/Vice Minister of Foreign Office and Defence Ministry.

  • Bilateral meeting between PM Modi and President Moon Jae-in on the sidelines of G-20 Summit, held in Hamburg in July 2017, led to discussions on further participation through programmes like ‘Make in India’, ‘Digital India’ and ‘Start-up India’.

  • The Republic of Korea ranks 16th in FDI inflows to India, investing USD 2.5 bn since 2000. Metallurgy, automobile, electronics, prime movers, machine tools, hospital and diagnostic centers are the sectors that attracted maximum FDI.

  • Bilateral trade touched USD 18.9 bn in 2018. Imports from Korea were valued at USD 14.9 bn during 2017-18. Auto-components, telecom equipment, iron & steel products, petroleum refined products and mechanical appliances are key areas for imports.

  • Exports to Korea were valued at USD 3.9 bn during 2017-18. Non-ferrous metals, petroleum and related products, chemicals and textile yarn formed the bulk for exports from India.

  • Korea and India signed the CEPA free trade agreement in August 2009, which became operational from 1 January 2010. In addition, an Indian Chamber of Commerce in Korea was established in January 2010 to support Korean companies interested in doing business in India.

  • Korea houses Indian Council for Cultural Relations in Seoul and Busan to promote Indian culture in the country and also to strengthen cultural and educational ties between the two nations. The Council offers regular classes in yoga, dance, Hindi language, musical instruments and cooking.

  • Sarang, the annual festival of India in Korea was initiated in 2015 to showcase diverse Indian culture and art forms in various parts of Korea.

  • Several arrangements between Korean and Indian educational institutions continue to promote people-to-people exchanges. Indian institutes like Jawaharlal Nehru University and the Delhi University offer programmes in Korean studies and Korean language courses.

  • Bilateral Civil Aviation Agreement of 1994 was revised in November 2015 to increase weekly flights between the two countries to 19, starting new operations by Korean Airlines with direct flights to Delhi. India also extended visa-on-arrival facility for Korean tourists from April 2014 to boost travel between the two countries.