New Supply Chain Emerging at 'Igot'... KITA Builds Bridge Between Korea and India

Creating Networking Opportunities Between Major Korean and Indian Companies
KITA Signs MOU to Promote Business Cooperation

As the global trade order is rapidly being reshaped, India is gaining attention as a new market. The Korea International Trade Association (KITA) has taken the initiative to serve as a link to facilitate active communication between Korean and Indian companies.

KITA announced on the 6th that it held the "Korea-India Business Leaders Meeting" on the 5th at the Trade Tower in Gangnam-gu, Seoul. This event was organized to promote business exchanges between the two countries, coinciding with the visit of a delegation from the Confederation of Indian Industry (CII), India's largest private economic organization.

On the 5th, the Korea International Trade Association and the Confederation of Indian Industry signed a Memorandum of Understanding (MOU) to promote business cooperation between the two countries at the Trade Tower in Gangnam-gu, Seoul. From the left: Yoon Jin-sik, Chairman of the Korea International Trade Association; Oh Seok-song, Chairman of Meta Biomed Co., Ltd.; Shiv Siddhant Kaul, Chairman of the Korea Committee of the Confederation of Indian Industry; Amit Kumar, Indian Ambassador to Korea. Photo by Korea International Trade Association

The main agenda discussed at the event was "Ways to Cooperate Between Companies of Both Countries." On the Korean side, about 10 executives from major companies engaged in trade with India attended, including Yoon Jin-sik, Chairman of KITA, Oh Seok-song, Chairman of MetaBioMed Co., Ltd., and Song Ho-geun, Chairman of YG-One Co., Ltd. From India, 15 participants attended, including Amit Kumar, Indian Ambassador to Korea, Shiv Siddhant Kaul, Chairman of the Korea Committee of the Confederation of Indian Industry, and Sarathi Anand, President of Anand Group.

Chairman Yoon Jin-sik emphasized, "Securing a reliable supply chain has become increasingly important, and India, the world's 5th largest economy and an emerging global innovation hub, is a very important partner. We will support the expansion of exchanges and synergy between companies of both countries in future industries such as energy and bio."

Meanwhile, KITA signed a Memorandum of Understanding (MOU) with the Confederation of Indian Industry on the same day. They agreed to strengthen cooperation to revitalize business, including holding the "Korea-India Business Forum" annually in each country.

In particular, KITA plans to establish an "India Committee," which will be used as a channel for companies to communicate by increasing networking and information exchange jointly with the Korea Committee of the Confederation of Indian Industry.