Relation Ships Between India N Korea
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India–South Korea relations
India–South Korea relations has been relatively limited, although much progress arose during three decades. Since the formal establishment of the diplomatic ties between the two countries in 1973, several trade agreements have been reached: Agreement on Trade Promotion and Economic and Technological Co-operation in 1974; Agreement on Co-operation in Science & Technology in 1976; Convention on Double Taxation Avoidance in 1985; and Bilateral Investment Promotion/ Protection Agreement in 1996. Trade between the two nations has increased exponentially, exemplified by the $530 million during the fiscal year of 1992-1993, and the $10 billion during 2006-2007.[1]
During the 1997 Asian financial crisis, South Korean businesses sought to increase access to the global markets, and began trade investments with India.[1] The last two presidential visits from South Korea to India were in 1996 and 2006,[2] and the embassy works between the two countries are seen as needing improvements.[3] Recently, there have been acknowledgments in the Korean public and political spheres that expanding relations with India should be a major economical and political priority for South Korea. Much of the economic investments of South Korea have been drained into China;[4] however, South Korea is currently the fifth largest source of investment in India.[5] To the Times of India, President Roh voiced his opinion that co-operation between India's software and Korea's IT industries would bring very efficient and successful outcomes.[2] The two countries agreed to shift their focus to the revision of the visa policies between the two countries, expansion of trade, and establishment of free trade agreement to encourage further investment between the two countries. Korean companies such as LG and Samsung have established manufacturing and service facilities in India, and several Korean construction companies won
India–South Korea relations
India–South Korea relations has been relatively limited, although much progress arose during three decades. Since the formal establishment of the diplomatic ties between the two countries in 1973, several trade agreements have been reached: Agreement on Trade Promotion and Economic and Technological Co-operation in 1974; Agreement on Co-operation in Science & Technology in 1976; Convention on Double Taxation Avoidance in 1985; and Bilateral Investment Promotion/ Protection Agreement in 1996. Trade between the two nations has increased exponentially, exemplified by the $530 million during the fiscal year of 1992-1993, and the $10 billion during 2006-2007.[1]
During the 1997 Asian financial crisis, South Korean businesses sought to increase access to the global markets, and began trade investments with India.[1] The last two presidential visits from South Korea to India were in 1996 and 2006,[2] and the embassy works between the two countries are seen as needing improvements.[3] Recently, there have been acknowledgments in the Korean public and political spheres that expanding relations with India should be a major economical and political priority for South Korea. Much of the economic investments of South Korea have been drained into China;[4] however, South Korea is currently the fifth largest source of investment in India.[5] To the Times of India, President Roh voiced his opinion that co-operation between India's software and Korea's IT industries would bring very efficient and successful outcomes.[2] The two countries agreed to shift their focus to the revision of the visa policies between the two countries, expansion of trade, and establishment of free trade agreement to encourage further investment between the two countries. Korean companies such as LG and Samsung have established manufacturing and service facilities in India, and several Korean construction companies won