Junggyeonryeon Signs Business Exchange Support MOU with Korea-India Chamber of Commerce and Industry

Consultation on Promoting Business Open Day for India's Top 10 Groups

From the left, Lee Hwijae, Secretary General of the Korea-India Chamber of Commerce and Industry, Sachin Sapute, Chairman of the Korea-India Chamber of Commerce and Industry, Ban Wonik, Executive Vice Chairman of the Korea Association of Small and Medium Business, and Lee Chungyeol, Director of the Corporate Growth Support Headquarters of the Korea Association of Small and Medium Business, are taking a commemorative photo after signing the business agreement.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Medium-Sized Enterprises (KFME) is joining hands with the India Chamber of Commerce in Korea to support medium-sized companies' entry into the Indian market. On the 17th, KFME announced that it signed a memorandum of understanding (MOU) with the India Chamber of Commerce in Korea at the Indian Embassy in Korea to support "Korean medium-sized enterprises' entry into India and technological cooperation between companies of both countries."

The two organizations plan to continuously expand opportunities for exchange, such as the "Open Day" business event hosted by the top 10 Indian groups leading sectors like energy, automotive, steel, IT, pharmaceuticals, and textiles, to support the successful entry of medium-sized companies into India and to closely cooperate in enhancing technological cooperation between companies of both countries. Based on the network of Indian IT experts and engineers numbering over 4,000, as well as Korean companies operating in India such as Novelis Asia, the chairman company of the India Chamber, and Mahindra Group's SsangYong Motor, KFME intends to actively support medium-sized enterprises in pioneering the Indian market.

Ban Won-ik, Executive Vice Chairman of KFME, stated, "As a global giant market in the energy, automotive, and IT sectors, India is a blue ocean and a key exchange target for discovering new growth engines for medium-sized enterprises. We will actively support medium-sized companies to successfully enter the Indian market." He added, "We will expand the space for exchange between Korea's excellent medium-sized enterprises and Indian companies, establish various win-win cooperation models to lead the reorganization of the global supply chain in the post-COVID-19 era, and do our best to contribute to mutually beneficial exchange and cooperation between the two countries."