India and Korea unveiled a Korea Plus initiative to promote and facilitate Korean investments in India.
The mandate of Korea Plus covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time, looking into issues faced by Korean companies doing business in India and policy advocacy to the Indian government on their behalf, according to am official statement.
Korea Plus will act as a mediator in arranging meetings, assisting in public relations and research, evaluation and provide information and counselling in regard to Korean companies’ investing in India. The initiative was introduced by Commerce and Industry Minister Nirmala Sitharaman and Korean minister of Trade, Industry and Energy, Joo Hyunghwan.
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Korea Plus comprises of a representative each from the Korean ministry of industry, trade and energy, Korea Trade Investment and Promotion Agency as well as three representatives from Invest India -- the national investment promotion and facilitation agency of India. An memorandum of understanding for establishing Korea Plus was earlier signed between the Korean ministry of trade, industry and energy and Invest India in January 2016.