Indo-Korea trade to cross $10 b: Korean Ambassador
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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.
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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 |
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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.
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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. |
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Visiting Korean Importers |
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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. |
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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 |
