is Coming to Korea - Korea IT Times

India special | Collaboration between Korea and India
Members of the ICCK
gathered at Shilla Hotel
Two Heads are
Better than One
Korea and India make a determined effort to control Asia
Korea and India decided to hold hands
and walk down the road to success. Both
nations have a game plan that will benefit
each of them, but at the same time, enhance
Asia on the world stage. Both countries
will propel Korea-India relations and
collaborate on science and technology.
How will science and technology cooperation
work between Korea and India?
They already pumped their gas to the max
and all they need to do is, go.
President Lee Myung Bak embarked on
a tour to India, on January 24. This was at
the request of the President Pratibha Patil
of India to sign the MOU that states, the
two nations will jointly promote the development
of technology. The two nations'
dialogues were concerned with strengthening
the national ties and exchanging software
experts and cultivate skilled manpower
to generate significant synergy.
Together, they raised US$10 million for
the science and technology sector and constructed
'Science and Technology Cooperation
Center between India and Korea'
at Bangalore, India. This facility will be
operated by Korea Institute of Science and
Technology(KIST) and Indian Institute of
Science(IISc). It is concluded that Korea
will attract and retain high quality IT man
power and also send Korean job seekers to
India for IT-oriented job training. In addition,
they will, in concert, execute research
on aerospace technology and endorse student
exchange programs in Korean and
Indian colleges and universities.
On January 19, 2010, was the launching
of The Indian Chamber of Commerce in
Korea (ICCK) at Shilla Hotel in Seoul.
"The comprehensive economic partnership
agreement (CEPA) that took effect on
New Year's Day will start a new era of strong
economic cooperation", said Ambassador
Skand R Tayal, during the congregation.
He continued to say, "Korea can boast its
advantage in manufacturing industries,
while India has strength in know-ledge
and service industries." Kim Jong-Sik,
President and CEO of TDCV also said,
"the ICCK acts as a strategic partner in the
global marketplace on political, economic,
cultural, and business leadership." The
launching of ICCK and with CEPA together
promoting bilateral economic cooperation
has opened doors to Korean market
as well as to Indian market. There are
50 participating companies for the ICCK.
India and Korea's trade volume in 2000
was US$2.3 billion and has increased to
US$15.6 billion in 2008. Korea invested
US$2.5 billion last year; India invested
US$83 million to Korea to strengthen economic
cooperation.
On a similar note, Korea will get involved
in India's Electronic government
projects and Social Overhead Capital
(SOC) infrastructure that contends with
software technology.
Bang Jung-hyun / jbang@koreaittimes.com
46 KOREA IT TIMES | February 2010