Indo-Korea trade to cross $10 b: Korean Ambassador

On the dais, from left, are Mr Ajay Sahai, Director General FIEO; Dr Kim Wan Hee, Chairman, Korea Importers Association (KOIMA); Mr Subhash Mittal, Convenor, FIEO Committee on IT & EP; H.E. Mr. Paek Young-Sun, Ambassador of the Republic of Korea, and Dr Bimal Mawandia, Member FIEO Managing Committee.

Korean Ambassador hopes the bilateral trade between India and the Republic of Korea to cross 10 billion USD this year. Addressing a buyer-seller meet organized by FIEO on 11 May at New Delhi, Mr. Paek Young-sun called India as an emerging economic superpower attracting attention from international community and said India has the fastest growing free market, young workforce, and an economy growing at an impressive rate of 8% over the past four years. He went on to say that India is endowed with the highest level of human resources in IT, biotechnology and other scientific areas.

The Ambassador informed that Korea was the 9th largest investor in India with an investment of 823 million dollars. According to him, India features among top 10 export markets for Korea. Referring to ‘Comprehensive Economic Partnership Agreement,’ he said the negotiations between the two countries were on track and were likely to be concluded by the end of this year.

Earlier, FIEO Convenor of the Committee on IT & EP Mr. Subhash Mittal while welcoming the 22-member Korean Importers’ Delegation referred to the rapid economic growth of Korea as "Miracle of Han River." He outlined Korea’s strongest areas of development as shipbuilding, semiconductors and consumer electronics, automobiles, textiles and steel.

Explaining the strength of the Indian economy, Mr. Mittal said "India is one of the fastest growing economies in the world with consistent growth rate of over 8% for the past few years. Its GDP has crossed one trillion dollars and is set to cross two trillion dollars by 2015 as per some predictions. Indian exports are growing by over 25% from the last three years."

On trade relations between India and Korea Mr. Mittal said despite the two countries granting MFN status to each other way back in 1974, India’s share was a meager 0.6% in the total import by the Republic of Korea estimated at USD 309 billion. On the other hand, India’s total imports from Korea were USD 4563 million in the year 2005-06 having a share of 1.4% of the Republic of Korea’s total export. Mr. Mittal, however, exuded confidence that the two sides could increase their trade manifold and said India’s export to the Republic of Korea had already crossed USD 1062 million in the first half of 2006-07.

There is no Government of India’s Line of credit for the republic of Korea. In the year 2000, Exim Bank of India signed an agreement with Korea development bank to provide trade financial facility of 20 million dollar to the latter. "This line of credit can be a good mechanism to increase the bilateral trade between the two countries," said Mr. Mittal.

Chairman of Korea Importers Association (KOIMA) Dr. Kim 

One-to-one business meeting in progress

Wan Hee, who led the delegation, said the trade between the two countries has developed fast since the trade and cultural treaty signed between them in 1962. He described KOIMA as the unique, import specialized organization and claimed that KOIMA had a membership base of ten thousand companies which represent 80% of Korea’s total import volume. "It has 60000 suppliers from 100 countries all over the world. KOIMA makes great effort to expand effective marketing without requiring foreign firms to carry out any direct activities in Korea." He added.

Towards the end of the meeting, FIEO Director General Mr. Ajay Sahai observed that there were lots of opportunities for Indian SMEs to enter into joint ventures with their Korean counterparts. He urged Indian companies to take advantage of the opportunities being provided by trade promotion bodies like FIEO towards that end.

The meet attended by more than 40 Indian companies got concluded with the signing of an MoU between KOIMA and FIEO for mutual cooperation in the field of trade promotion.

Dr Kim Wan Hee, Chairman, Korea Importers Association (KOIMA) and Mr Subhash Mittal, Convenor, FIEO Committee on IT & EP signing an MOU between KOIMA and FIEO.

Visiting Korean Importers

Mr Wan Hee Kim

Chairman, KOIMA & Leader of the Delegation

President, TRICO International Ltd

Rm 1001, Daeha Bldg 14-11 Yoldo-Dong, Yungdungpo-gu, Seoul 150-715, Korea

Tel: 82 2 784 7202 Fax: 82 2 784 9073

E Mail: whkim@tricoint.co.kr

Homepage: www.tricoint.co.kr

Import: Human Resources Research (for High Tech.), Coal tar, chemical, Fine chemical, special natural rubber, Scrap iron

Export: Stainless steel scrap, P.T.H (Prevent Total Hardness):Water treatment system, Valves, Forging parts, Stainless steel scrap

 

Mr Dong Rim Yoo

Vice Chairman,KOIMA

President, True Trading Co. Ltd

Rm 1111 Leader’s Tower,

60-15 Gasan-dong, Geumcheon-gu

Seoul, 153-790

Tel: 82 2 585 3001; Fax: 82 2 588 3577

E Mail: dry@truetrading.co.kr

Homepage: www.truetrading.co.kr

Import: Mineral (Molybedenite, Bauxite), Diamond (Industrial use) Polyester 300/46F denier, dope dyed yarn, Intermingled Polyester 300/96F denier, dope dyed yarn, non Intermingled

Export: Mold Analysis and Plastics Solutions, Non-contact 3D Measurement system, Vinyl Film extrusion line, PE/PS Foam Extrusion Line, Vacuum Clearner, Security Equipment, Mold & Die

 

Mr Hyun Chul Kim

Vice Chairman, KOIMA

President, Shin Hwan Corp.

No 1341, Rosedall Building

724, Suseo-dong, Gangnam-gu, Seoul

Tel: 82 2 3413 3481

Fax: 82 2 34133484

E Mail: hck@shinhwan.biz

Homepage: www.shinhwan.biz

Import: Ethanol, Rectified Ethyl Alcohol

 

Mr Seong Hun Wang

Member of Advisory Committee, Korea Importers Association

President, Su Sung Trading Co. Ltd

SUIT 307, Bando Bldg. 36-14,

4Ga Chungang-dong, Chung-ku Busan

Tel: 82 51 463 7371

Fax: 82 51 463 9991

E Mail: susungmu@kornet.net

Homepage: www.susung21.net

Import: Frozen Ribbon Fish w/round (300-500G/pc), All kind of Handicrafts & Handicrafts & Household & Tablewares & Kitchenware (baskets, Mats, Chopsticks, Spoon) Rattan Picnic Baskets, wooden kitchenwares (Bowl, tray, chopsticks, spoon, mats), Rattan Tray, Rattan Furniture, All kind of Baskets, Flower Baskets, Mats, Hats, Fans. All kinds of Handicrafts/Household, flate titanium T0.5-0.7 mm, W1 meter up, L2 meter up, grade : 1st), Titanium, Combs of Buffalo horn, Plate (RP or NRP) – Nickel 2% Content (No 201), Nickel 4% Content (No 202L), Nickel 6%, Content (No 301), Nickel 8% Content (No 304)

 

Mr Young Ho Noh

Director, Korea Importers Association

President, Jing Sung Corporation

No 302, Sung Kyong Bldg, 262-4,

Yang Jae-dong, Seocho-gu, Seoul

Tel: 82 2 2057 8177; Fax: 82 2 578 8174

E Mail: yhnoh@jinsungcorp.com

Import: Machinery, Measure Control parts for Piping, Valve

Export Lubricating Oil, Medical Casting Tape

 

Mr Hyun Yel Kim

Director, Korea Importers Association

President, Eun Min International Corp

2 Fl, EM Bldg., 449-5, Dogok-Dong

Kangnam-Ku, Seoul

Tel: 82 2 571 6538; Fax: 82 2 571 6539

E Mail: eunmini@kornet.net

Import: Cow Hide and Buffalo Leather for Upholstery and Automotive, Interior Small Decoration, Home Interior Sofas & Dining Table/Chairs, Upholstery Materials (Nails/Elastic Web Ban/etc)

 

Mr Ki Seob Lee

Director, Korea Importers Association

President, Kyung Seung Pipe Co Ltd

292, Seokmo-ri, Yangchon-myeon

Kimpo-si, Kyounggi-do

Tel: 82 31 981 6691; Fax: 82 31 981 6694

E Mail: kspipe@naver.com

Import/Export: Carbon steel Pipe (Hot Rolled Seamless Carbon Steel Pipe and ERW Carbon Steel Pipe)

 

Mr Dae Hwan Kim

Director, Korea Importers Association

President, I-Chem Korea Co. Ltd

B-1001, Samho Center Bldg, 275-6, Yangjae-Dong, Seocho-ku, Seoul

Tel: 82 2 589 1172, Fax: 82 2 589 1174

Email: ichem01@hanmail.net

Import: Ti02(Titanium Dioxide, Rutile Type); Al Paste (Non-leafing type) Monomers and Photoiniators for UV Coatings; Raw Materials for Resins (T. M.P, N.P. G, I. P. A, P. A, M. A, A. A, etc.); Others of Raw materials of Coating Industry; Organic Pigments; Chemicals for Electric and Electro Industry

Mr So King Park

Director, Korea Importers Association

President, Soon-Man Industry Co Ltd

Soon-Man Bldg, 151-11

9 F Noryangjin-donf, Dongjak-gu

Seoul, 156 801

Tel: 82 2 816 0700

Fax: 82 2 824 4482

Email: sokangpark@yahoo.co.kr

Import: Pharmaceuticals, Healthcare Equipment, Building Materials

 

Mr Seung Min Baik

Manager, KOIMA

218 Hankangro 2-ga, Yongsan-gu

Seoul 140-875

Email: azalebaik@koima.or.kr

Homepage: www.koima.or.kr

 

Mr Chae Mu Lee

Director, KOIMA

Email: cmiee-koima@hanmail.net

Homepage: www.koima.or.kr

Mr Jae Hoo Bae

President, One Sun Trading, Inc

Obelisk (O/T) No 2407, 555, Dowha

Mapo-ku, Seoul

Tel: 82 2 3272 6077

Fax: 82 2 3272 6079

Email: onesuntr@unitel.co.kr

Import: Food Colors, Food Stuffs

Export: Plastic Resins

 

Mr Jae Soon Song

President, Sae Ki Rtn Company

2 Fl, Hong-Jing Building

134-1, OGum-dong, Songpa-gu

Seoul 138-859

Tel: 82 2 406 6302

Fax: 82 2 406 6320

Email: saeki@chollian.net

Homepage: www.saekirtn.com

Import: Dyes, Pigments, Granite Marble, Silk Yarn, Jewellery, Machine Tools, Coco Feats, Silk Yarn, Jewellery, Machine Tools, Coro Peats, Fresh Cut Flower, Rose, Chrysanthemum, Carnation, etc. Orchids, Foliage etc, Dry Flower

Export: Horticulture Equipment, Greenhouse, Flower, Tomato, Sweetpaper, Vegetable, Hydrophonic growing system, Growing Consulting, 2nd Hand Agriculture machine, Liverstock Equipment, Chicken, Pig, Public, Health Sprayer, Above Each items of looking for agents

 

Mr Chul Heun Jung

Deputy Director, Export & Import Division

Ministry of Commerce, Industry & Energy

1, Joongang-dong, Gwacheon-si,

Gyunggi-do

Tel: 82 2 2110 5335 Fax: 82 2 503 9438

Email: chjung123@mocie.go.kr

Homepage: www.mocie.go.kr

 

Mr Young Sig Ko

Director, T&C Korea Co. Ltd

Rm 212, Hannambubjo Town

707-4, Gojan-Dong Danwon-gu

Ansan, Gyunggi-do

Tel: 82 2 761 2757

Fax: 82 2 761 2759

Email: ysko@tnckorea.co.kr

Homepage: www.tnckorea.co.kr

Import: Vacuum Heat treatment Furnace, Forging Press, Stamping press, Melting & Casting Furnace, PVD coating material target

 

Mr Hang Jae Lee

President, Hankuk Geo Eng

No 307, YBS Bldg, Yongdap-dong

227-1, Seongdong-gu, Seoul

Tel: 82 2 2214 4346

Fax: 82 2 2214 4379

Email: hkgeo@korea.com

Homepage: www.hkgeo.co.kr

Import: Quartz Sllica Rocks (S02 99%), Pyrophyllite (A1202 21%), Woolastonite

(Fibrous type) Etc, Mineral ore.

Import: Vacuum Heat treatment Furnace, Forging Press, Stamping press, Melting & Casting Furnace, PVD coating material target

 

Mr. Tae Hoon Kim

President, YounWoo G.S.T. Co. Ltd.

15 DongSun-dong 2ga, Seong Buk-ku, Seoul

Tel: 82 2 922 2544

Fax: 82 2 926 7232

Email: thkim@younwoo.co.kr

Homepage: www.younwoo.co.kr

Export: Mechanical Joint Systems (Coupling, Fittings, Valves)

 

Mr. Suk Kyun Shin

President, Dae Ryung Corporation

2nd FL, Academy Tower, 277-17, Seongsu-Dong, 2ga

Seongdong-Gu, Seoul, 133-832

Tel: 82 2 461 7768

Fax: 82 2 461 7703

Email: sales@daeryungco.com

Homepage: www.daeryungco.com

Import: Tube, Pipe, Coil and Plate for Heat Exchanger, Boiler and Ship-buildings; Material 1) Carbon & Carbon Alloy; 2) Stainless; 3) Nickel & Nickel Alloy; 4) Other Special Metals

Export: Copper Alloy Tube & Pipe, Low Finned Tube (Ferrous & Non-Ferrous), Copper & Copper Alloy High Finned Tube, Aluminum Finned Tube, ERW Stainless Steel Tube.

 

Korea Importers Association (KOIMA)

218 Hankangro 2-ga, Yongsan-gu

Seoul 140-875, Korea

Tel: 82 2 792 1581

Fax: 82 2 749 1830

E Mail: koimka@koima.or.kr

Homepage: www.koima.or.kr

 


Federation of Indian Export Organisations
New Delhi, INDIA.