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Korean Ambassador Offers Tremendous Investment Opportunities In Punjab


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Korean ambassador offers tremendous investment opportunities in Punjab

Punjab Newsline Network

Thursday, 18 August 2011

CHANDIGARH:Korean Ambassador Joong Keun today called on Punjab Chief Minister Parkash Singh Badal and evinced keen interest to set up automobile & electronics industry in Punjab.

Taking part in the deliberations during a meeting with Badal at Chief Minister’s residence this evening, Joong Keun apprised him that Korean Government had already signed an comprehensive Economic Cooperation Agreement with India which has resulted in huge volumes of trade to the tune of 17 Billion US dollars thereby registering an increase of 42% recently.

He said that the bilateral relations between India and Korea were very cordial and there was further huge potential of trade and economic activity. He also urged the Chief Minister to establish joint ventures in food processing industry in view of Punjab’s agrarian background.

The visiting envoy also impressed upon Badal to tie up with world acclaimed Korean companies like Hyundai Motors, LG Electronics, Samsung besides Steel Giant Posco to set up their units in Punjab as these companies had already put up their several manufacturing units in different parts of the country. He said that the investment scenario in Punjab were very much conducive and extended all support and cooperation on behalf of Korean government.

Appreciating the congenial investment climate in the state, Keun asked the Chief Minister to immediately initiate efforts to bring Korean industry to the state as both Korea and Punjab would be mutually benefited.

Responding to the offer made by the visiting Korean envoy, Badal informed that a special team of senior officers led by his Principal Secretary DS Guru would immediately tie up with these companies so that these proposals could be formalized. The Chief Minister also sought technical know-how and expertise from the Korean food processing industry so that the income of the farmers could be increased manifold through value addition.

He also commended the food marketing policy of the Korean government which was giving a slew of incentives to boost the agriculture production as well as to ensure better prices to the farmers for their produce in Korea. Badal assured the Korean envoy that Punjab government would extend fulsome support to the interested Korean companies for setting up their units in the state.

The visiting ambassador was accompanied by Min Jeon, Sang-wook (both first Secretaries) Embassy of the Republic of Korea and Director Korea Trade Investment Promotion Agency Mr. Joonhwa Bin. Principal Secretary to Chief Minister DS Guru and Special Principal Secretary to Chief Minister KJS Cheema were also present in the meeting.

http://punjabnewsline.com/content/korean-ambassador-offers-tremendous-investment-opportunities-punjab/32930

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Nice to see that far eastern govts/companies are willing to even look at Pb for investing.

But at what cost to its environment?

It seems to me that any major firm that is investing in India just defiles the earth with pollution and rapes it for profit. The government both state and central, are willing to encourage it just to maintain the 8% growth factor; not to mention any kickbacks recieved.

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Nice to see that far eastern govts/companies are willing to even look at Pb for investing.

But at what cost to its environment?

It seems to me that any major firm that is investing in India just defiles the earth with pollution and rapes it for profit. The government both state and central, are willing to encourage it just to maintain the 8% growth factor; not to mention any kickbacks recieved.

well you cannot get everything in world, you have to pay some price for it.Today China is an economic giant because it allowed full exploitation of its environment and labour ,so if you want development then you have to pay price for it

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Great news - as long as the jobs go to Punjabis, rather than Biharis or Kashmiri Muslims. Both Korea and Japan are trying to reduce their reliance on Chinese manufacturing, giving Punjab's government a chance to jump in and get a share. If the Badals have their heads screwed on right that is.

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